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Scotiabank announced a change in leadership on Thursday, with Aris Bogdaneris set to become the Group Head of Canadian Banking effective November 3, 2023. He succeeds Dan Rees, who is leaving his role after more than two decades to explore new opportunities. This move comes as part of Scotiabank’s strategic plan to bolster its position in Canada and stimulate sustainable profitability.
Bogdaneris brings over 25 years of experience in financial services, having held significant roles at ING, Raiffeisen Bank International AG, and GE Capital. His expertise spans retail and business banking, digital operations, process management, and risk. At ING, he served as the Global Head of Retail Banking and led the Challenger & Growth Markets division.
In his new role at Scotiabank, Bogdaneris will take charge of the bank’s personal and commercial banking sectors, digital transformation efforts, Tangerine business, marketing and analytics. Scotiabank’s CEO Scott Thomson expressed confidence in Bogdaneris’ leadership skills and his record in retail banking.
Rees, who joined Scotiabank in 2000, has been instrumental in guiding the Canadian banking division through the pandemic by introducing relief programs and new services. He was also pivotal in launching Scene+, a revolutionary loyalty program in Canada.
As part of a leadership shakeup in August, Scotiabank awarded Rees and Jake Lawrence, CEO and group head of global banking and markets, a one-time $1.5 million stock award. The bank aims to ensure strong leadership as it prepares to roll out its strategic turnaround plan under the new CEO Scott Thomson in December.
Scotiabank is a leading bank in the Americas with over 90,000 employees and manages approximately $1.4 trillion in assets. It is traded on the Toronto Stock Exchange (TSX:BNS) and New York Stock Exchange (NYSE:BNS).
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This story originally appeared on Investing
