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Economy

Scotiabank CEO Brian Porter to retire in 2023, Finning president set as replacement

By The Staff Global News
Posted September 26, 2022 9:35 am EST
1 min read
Finance Minister Chrystia Freeland commented Monday on a Scotiabank report that criticized government spending amid soaring inflation. She said it is chiefly the role of the Bank of Canada to bring inflation down, but realizes that fiscal policies play a role. "I chose to stay with the affordability measures that were already in the budget from April and in last year's budget rather than bringing new measures online," Freeland said – Jun 20, 2022

Scotiabank says CEO Brian Porter will retire at the end of January next year.

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The bank says he will be replaced by Scott Thomson, currently president and chief executive of heavy equipment dealer Finning International Inc.

Thomson has been a member of the Scotiabank board since 2016.

He will retire from Finning on Nov. 15 and become president at Scotiabank starting on Dec. 1 before taking over as chief executive on Feb. 1, 2023.

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Porter joined Scotiabank in 1981 and became chief executive on Nov. 1, 2013.

He will serve as a strategic adviser to Thomson from Feb. 1 to April 30, 2023.
© 2022 Global News, a division of Corus Entertainment Inc.

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