Scotiabank's new CEO must sell investors on his plan to boost Latam profits
Bank of Nova Scotia CEO Scott Thomson will face shareholders for the first time on Wednesday since taking the job with expectations running high for the Canadian lender to outline a plan to fix its struggling Latin American units and a vision to grow profits at home. Thomson, who took charge in February, has warned fiscal 2024 profit growth would be marginal and announced one of the biggest job cuts among the Canadian banks this year, preparing the bank for challenging times. Scotiabank's net income for fiscal 2023 fell 21.5% as its bad debt provisions more than doubled to C$3.42 billio...