Scotiabank is bringing in veteran banker Francisco Aristeguieta to run its international business. Read more
Thomson had indicated he planned to make adjustments to the bank’s international strategy.first public speech
Thomson blamed the lagging performance on the COVID-19 pandemic and suggested the bank needed to pivot away from the heavier weighting of unsecured loans in its international portfolio. He also pointed to Mexico as a strong example of what the rest of Scotiabank’s international business should aspire to with a market share of eight per cent, a return on equity that’s greater than 20 per cent and strong connectivity with Canada and the U.S.
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