Leadership shakeup at Scotiabank aims to accelerate strategy

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Scotiabank has announced several leadership changes effective December 2 as it works to advance key strategic priorities and deliver on its medium-term targets set out at the 2023 Investor Day.

President and CEO Scott Thomson said the appointments reflect the Bank’s focus on strengthening execution and elevating client experience across its operations.

The appointments include:

  • Phil Thomas – Group Head & Chief Strategy and Operating Officer
  • Shannon McGinnis – Chief Risk Officer
  • Anique Asher – Executive Vice President, Real Estate Secured Lending
  • Tracy Gomes – Executive Vice President & Chief Risk Officer, Canadian Banking, Global Wealth Management and Credit Risk
  • Meigan Terry – Executive Vice President & Chief Global Corporate and Public Affairs Officer

Thomas will lead several enterprise functions, including data and analytics, operations, real estate and corporate affairs, while advancing AI adoption and execution strategy. McGinnis, who joined the Bank in 2024, will become CRO and join Scotiabank’s Operating Committee.

Asher will take on leadership of the Real Estate Secured Lending business, which Scotiabank sees as a key driver of client acquisition and returns in Canadian Banking, while Gomes will assume a dedicated CRO role for Canadian Banking, Global Wealth Management and Credit Risk. Terry will step into an expanded public affairs role that now includes responsibility for global government relations.

“These leaders have made significant contributions to our transformation through their client focus and ability to build strong teams,” Thomson said, adding that the appointments will help the Bank build momentum toward sustainable, profitable growth.

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Last modified: November 18, 2025