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Scotiabank shuffles executive ranks, Phil Thomas to take on COO role
Phil Thomas becomes group head and chief strategy officer, while Shannon McGinnis is promoted as the first female chief risk officer to drive strategic turnaround.
- On Nov. 18, 2025, Scotiabank announced Phil Thomas was appointed group head and chief strategy and operating officer, replacing Anique Asher, and promoted Shannon McGinnis to chief risk officer.
- Scotiabank is shuffling its senior leadership as part of a strategic turnaround to rejig its risk and strategy units, the bank said the moves reflect a refocus on client experience and AI innovation with consolidated oversight of data and analytics, real estate, and marketing.
- Anique Asher will move to executive vice-president of real estate secured lending and join the Canadian Bankers Association board next month.
- Scotiabank says the changes, effective Dec. 2, will support the bank's strategic priorities and accelerate progress toward its medium-term objectives, reshuffling risk, strategy and corporate affairs leadership teams.
- Phil Thomas, longtime Scotiabank executive since 1997, has experience in retail banking and risk, while Shannon McGinnis, promoted from deputy CRO, brings external risk leadership from Toronto-Dominion Bank.
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Winnipeg Free Press+5 Reposted by 5 other sources
Scotiabank shuffles executive ranks, Phil Thomas to take on COO role
Breaking News, Sports, Manitoba, Canada
·Winnipeg, Canada
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Coverage Details
Total News Sources10
Leaning Left4Leaning Right1Center3Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 38%
12%
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