Scotiabank Names Travis Machen to Head Global Markets Unit
Canada’s Scotiabank has a new CEO for its global banking and markets (GBM) business.
Travis Machen, who joins the bank from Morgan Stanley, is set to take on his new position on May 6, Scotiabank announced in a Monday (April 29) news release.
“In this role, Mr. Machen will be responsible for leading the execution of a global banking business strategy that builds on Scotiabank’s unique North American reach and GBM’s strategic presence in Latin America, Europe and Asia Pacific.
“He will focus on expanding product offerings and earning more primary clients to deliver sustainable and profitable growth for the Bank’s GBM business which provides corporate clients with lending and transaction services, investment banking advice and access to capital markets in 20+ countries.”
Machen is a 25-year banking veteran, holding leadership roles at both Morgan Stanley and JPMorgan Chase.
He also has “a significant track record of successfully executing on M&A advisory mandates,” per the release, as well as expertise in the financial industry regulatory landscape, serving on the Financial Sector Advisory Council for the Federal Reserve Bank of Dallas.
“Travis is a forward-thinking leader with the vision and experience to lead our Global Banking and Markets business,” Scotiabank President and CEO Scott Thomson said in the announcement.
“Throughout his career in corporate, investment and commercial banking, Travis has earned a reputation for being a client-focused relationship banker. I am confident in his ability to build our business across our key markets, and to execute on our strategy for our clients, our bank and our shareholders.”
In other banking news, PYMNTS spoke with Doug Brown, chief product officer, NCR Voyix Digital Banking, about how lenders need to move on from their pre-COVID approach.
“Put your money here — and put it in your ‘rainy day fund.’ And that was it,” he told PYMNTS CEO Karen Webster in an interview posted on Tuesday (April 30), noting this one-size-fits all approach doesn’t work anymore.
Forward-thinking financial institutions (FIs), he said, are employing digital channels, from mobile apps to social media, to reach customers.
“Digital has got to infuse and permeate everything,” said Brown, while also noting that human connections remain important for banks.
“We still want a combination of things,” in financial services, said Brown, “that include a physical, tactile experience … bringing digital to the story as we go just makes it a richer experience.”
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