Scotiabank Appoints Aristeguieta to Lead International Banking business

Scotiabank appointed Francisco Aristeguieta to the role of group head of international banking, effective May 1. Aristeguieta will join the bank’s executive management team and have responsibility for the bank’s international banking business line.

Aristeguieta has more than 30 years of international banking experience in a range of markets, including Latin America, North America, Asia, Europe and the Middle East. He has senior leadership experience leading country operations and overseeing business lines that stretch across Latin America and other international markets.

Most recently, Aristeguieta served as CEO of institutional services at State Street and was responsible for the strategic repositioning of the firm’s asset servicing business globally. In this role, he managed more than 85% of the revenue of the company worldwide.

Prior to State Street, Aristeguieta spent 25 years with Citigroup, working on both the consumer and institutional sides of the business and leading the Latin America and Asia Pacific regions for the company, representing businesses with more than $15 billion in revenue. During his career with Citi, Aristeguieta drove the digitization of the company’s cards, retail and wealth management businesses in Asia and the Middle East. He also led the global transaction services group in Latin America and Mexico.

“Francisco is a seasoned transformational leader with a proven track record of delivering results, leading multiple business segments for major financial services organizations across global markets, including Latin America,” Scott Thomson, president and CEO of Scotiabank, said. “He will bring his experience and leadership to help us drive engagement and deliver for our customers in our international markets. As we look to refresh our strategy this year, Francisco will be a strong complement to our leadership team and will play a central role in helping us deliver long-term profitable and sustainable growth for our shareholders.”

In parallel to Aristeguieta’s appointment, Ignacio Deschamps announced his intention to retire from Scotiabank at the end of April. Deschamps, who currently serves as group head of international banking and digital transformation, joined Scotiabank in 2016, playing an integral role leading the bank’s international banking business line and digital transformation efforts across its global footprint.

“[Ignacio] is an outstanding global banker with a deep knowledge of Latin America. During his time with the bank, he reshaped our international footprint, led our international markets through a pandemic and built a highly competitive banking franchise in our key markets. [Ignacio] also led the bank through an enterprise-wide digital journey, inspiring the team to deliver and scale digital solutions across our footprint to enhance our employee and customer experiences,” Thomson said. “I would like to thank [Ignacio] for his leadership and many contributions, which have helped us become a more customer-focused, digitally driven organization.”

“It has been a tremendous privilege working with this winning team of Scotiabankers over the past seven years as we drove our digital banking leadership and improved our employee and customer experiences,” Deschamps said. “I’ve been inspired by the dedication and winning passion of our leaders and teams across Chile, Mexico, Peru, Colombia, the English Caribbean and the rest of our markets to build the best bank for our communities and countries, today and for every future. I am highly optimistic about the bank under Scott’s leadership and wish him and Francisco great success in this next phase of the bank’s journey.”

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