head of Canadian banking Dan Rees is leaving the lender after more than 20 years as it prepares to unveil its strategic turnaround plan in December under the new leadership of chief executive officer Scott Thomson.
Scotiabank’s board also topped up the paycheques of Jake Lawrence, the CEO and group head of global banking and markets and Dan Rees, the group head of Canadian banking, who were both considered as front-runners for the CEO job before the selection of Mr. Thomson. Jake Lawrence, the CEO and group head of global banking and market, was also considered a top candidate.
“Dan steered our Canadian Banking business through the global pandemic, introducing new services and implementing relief programs that helped our customers manage through uncertainty,” Mr. Thomson said in a statement. “As a result of Dan’s efforts and client focus, our Canadian Banking business has built a strong foundation for future growth.”
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