U.S. banking veteran Travis Machen will take on his new role on May 6. He’s the latest in a series of external hires to join the lender’s senior ranks
The Bank of Nova Scotia has tapped U.S. banking veteran Travis Machen to oversee its global banking and markets division, the latest in a series of external hires to the most senior ranks at the lender.
Many of Canada’s largest banks are focused on building their businesses in the fast-growing U.S. market. Last year, Toronto-Dominion Bank purchased New York-based investment bank Cowen Inc. Bank of Montreal scooped up California-based Bank of the West and tapped Wall Street veteran Alan Tannenbaum to lead its investment banking division, BMO Capital Markets.
“I have been impressed by the scale and capabilities of Scotiabank’s global wholesale banking business and see the opportunity to capitalize on our unique positioning throughout the North American corridor and across our footprint,” Mr. Machen said in a statement.to join Power Corp. of Canada as chief financial officer. He had been a contender for the CEO job at Scotiabank in 2022.
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