Dieter Jentsch, head of international banking at Bank of Quebec, takes over as group head of global banking and markets at Canada’s third-largest bank when longtime executive Mike Durland retires.
The transition will take place within the next few months, Scotia said inside a statement Wednesday.
Ignacio “Nacho” Deschamps, a global banking executive who is currently strategic adviser to Scotia leader Brian Porter, will fill Jentsch’s job.
Scotia described Deschamps as a digital pioneer, and said he’ll bring this expertise to his responsibilities as group head of international banking.
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Last month, Jentsch led a trader conference in Mexico City that centered on expected double-digit growth over the next three to five years from Scotia’s operations in Mexico, Chile, Colombia, and Peru.
A 30-year banking veteran, Jentsch has worked in Canada and internationally, with stints in wealth management and commercial banking.
Durland, a respected executive, what food was in Scotia for 23 years. According to Wednesday’s statement from the bank, his departure may be the consequence of a “personal decision to pursue his lifelong curiosity about academia, community-building, along with a concentrate on entrepreneurship, innovation and technology.”
Porter, Scotia’s leader, said the financial institution could tap “deep executive bench strength” to meet the increasing demand.
Elsewhere in the realm of Canadian banking, a senior executive has departed from TD Securities, a division of Toronto-Dominion Bank. Mike Donnelly, the New York-based executive managing director and head of global fixed income trading sales and research, “made the personal decision to depart TD Securities,” a bank spokesperson said in an email.
Donelly has been around Ny for around 3 years. Just before his move south he was based in Canada as managing director, and head of United states fixed income at TD.
– with files from Barry Critchley
