Scotiabank is announcing a number of executive appointments, as the banking group continues its transition into a Financial Holding Company (FHC).

Four executives in Anya Schnoor, Perrin Gayle, Sabrina Cooper and Debra Lopez-Spence have all been promoted with new assignments over the past two months. 

Ms Schnoor, who chairs Scotia Group Jamaica Limited, has been appointed to the new role of Executive Vice President, Global Insurance effective November 1, 2024 ,while Gayle, the Senior Vice President (SVP) for Retail & Small Business, has been appointed Acting Head of Retail Banking, Caribbean and Central America (CCA).

This appointment took effect on November 1, 2024. Cooper, the SVP Wealth Management and CEO of Scotia Investments Jamaica, has been appointed Regional Director, Brokerage, CCA, effective September 2, 2024. 

Mrs Lopez-Spence, the President Scotia Jamaica Life Insurance Company Limited, has been appointed Regional Head Insurance, North & Central Region effective November 25, 2024.

Scotia Group has also confirmed that having been assessed by the Bank of Jamaica, it was awarded a license to operate as a FHC effective July 24, 2024. The new FHC licensing regime under the Banking Services Act (BSA) 2014 seeks to improve consolidated supervision of financial groups is in light of the growth of financial conglomerates in Jamaica.

The new regime marks one of the first moves taken by the BOJ as part of its transition into the sole regulator for all financial entities.