Travis Machen, formerly of Morgan Stanley, will be heading up the global banking and markets division at the Bank of Nova Scotia, also known as Scotiabank. He is scheduled to begin his new role on May 6.
A statement on Monday, April 29, confirmed that Machen will take over for Jake Lawrence, who departed the bank in March to become chief financial officer of Power Corporation of Canada. Lawrence was an industry veteran of the Toronto-based lender who was also considered for the position of CEO.
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Travis Machen to Oversee Scotiabank's Global Banking and Markets Division
Machen's hiring is the most recent in a series of managerial shakeups at Scotiabank that began with Scott Thomson's appointment to CEO in early 2023. The firm has also changed the heads of its international, Canadian retail banking, and wealth-management businesses, Bloomberg reported.
The announcement states that Machen will be in charge of Scotiabank's investment bank and capital markets business. His new position will place him in both New York and Toronto.
According to Thomson, Travis has a long history of success in corporate, investment, and commercial banking, and he is known as a relationship banker who puts clients first. "I am confident in his ability to build our business across our key markets, and to execute on our strategy for our clients, our bank, and our shareholders," said the CEO.
Machen was formerly the managing director and head of banks, diversified, and financial infrastructure at Morgan Stanley. At JPMorgan Chase & Co., he oversaw corporate and commercial banking for financial institutions and served as managing director before that.
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