Scotiabank names former Morgan Stanley exec as head of global banking, markets unit

(Reuters) -Canada's Scotiabank appointed on Monday banking veteran Travis Machen as the CEO and group head of its global banking and markets (GBM) unit, starting May 6.

Machen, who will be based in New York and Toronto, will execute Scotiabank's global banking business strategy and will focus on expanding product offerings and increasing primary clients.

In his most recent role, Machen was the managing director and head of banks, diversified and financial infrastructure at U.S. investment bank Morgan Stanley.

Prior to that, Machen, who has been a banker for more than 25 years, was at JPMorgan Chase.

Earlier this year, the head of the GBM unit Jake Lawrence, a two-decade veteran at the bank who was seen as a CEO contender, decided to leave the lender to take on a role at financial services firm Power Corporation of Canada.

The Canadian lender under CEO Scott Thomson has shaken up its senior leadership, including the replacement of the head of Canadian banking, wealth management and international banking.

Scotiabank's GBM business provides corporate clients with lending and transaction services, investment banking advice and access to capital markets in more than 20 countries.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Tasim Zahid and Alan Barona)