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Scotiabank Appoints Francisco Aristeguieta To Lead International Banking Business

Scotiabank Appoints Francisco Aristeguieta To Lead International Banking Business

Scotiabank announced that it has appointed Francisco Aristeguieta to the role of Group Head, International Banking, effective May 1, 2023. Mr. Aristeguieta will become a part of the executive management team, with responsibility for the Bank’s International Banking business line.

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Mr. Aristeguieta is a seasoned global banking leader with more than 30 years of international banking experience with major global financial services organizations in a wide range of markets including Latin AmericaNorth AmericaAsiaEurope and the Middle East. He has significant senior leadership experience leading country operations and overseeing business lines that stretch across Latin America and other international markets. Most recently, Mr. Aristeguieta was responsible for the strategic repositioning of the Asset Servicing business globally of a major financial institution with operations in the U.S., EuropeAsia, the Middle East and Latin America.

“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,” said Scott Thomson, President and CEO of Scotiabank. “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 addition, Ignacio “Nacho” Deschamps has announced his intention to retire from Scotiabank at the end of April. Mr. Deschamps joined Scotiabank in 2016, playing an integral role leading the Bank’s International Banking business line and digital transformation efforts across its global footprint.

“Nacho 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. Nacho 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,” continued Mr. Thomson. “I would like to thank Nacho 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,” said Nacho Deschamps, Group Head, International Banking and Digital Transformation for Scotiabank. “I’ve been inspired by the dedication and winning passion of our leaders and teams across ChileMexicoPeruColombia, 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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Francisco Aristeguieta Career Highlights:

  • As CEO of Institutional Services at State Street, Mr. Aristeguieta managed over 85% of the revenue of the bank worldwide, having led the strategic repositioning of the Asset Servicing business globally, moving from an operations centric to a client centric approach.
  • At Citigroup, Mr. Aristeguieta worked on both the consumer and institutional sides of the business, having led the Latin America and Asia Pacific regions; businesses with more than $15 billion in revenue.
  • During Mr. Aristeguieta’s 25-year career at Citigroup, he drove the market-leading digitization of the 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, and drove successful change and transformation across most markets in the region, leading to improved efficiency and sustainable revenue growth.

Scotiabank is a leading bank in the Americas. Guided by our purpose: “for every future“, we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of over 90,000 employees and assets of over $1.3 trillion (as at January 31, 2023), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange.

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