comments from new CEOI was never a fan of Porter and thought he did a poor job with the Latin America investments.
I was actually happy to see him retire and for BNS to go outside the box a little with the hiring of Thomson. I'm even happier now reading some of his latest comments. Here's a quote from the Post.
Very nice!!
Incoming Bank of Nova Scotia chief executive Scott Thomson says returns from the bank’s international strategy haven’t matched the risks and that he sees an opportunity to refine the business line going forward. “We deployed a lot of capital into the international markets over the last 10 years, and the returns on that capital have not been commensurate with the risk that we’ve taken,” Thomson said during a fireside chat at the RBC Capital Markets 2023 Canadian Bank CEO Conference on Jan. 9. “There’s a lot of reasons for that … a lot of geopolitical reasons, a lot of macro reasons, a lot of execution reasons, but that’s something that we need to be really thoughtful about going forward.”