Scotiabank Appoints Phil Thomas as Chief Strategy and Operating Officer and Shannon McGinnis as Chief Risk Officer

Scotiabank announced on 18 November 2025 the appointment of Phil Thomas as Group Head and Chief Strategy and Operating Officer, and Shannon McGinnis as Chief Risk Officer. Both executives will assume their new responsibilities on 2 December 2025.

Phil Thomas moves into the combined strategy and operating role, succeeding Anique Asher. Thomas has served as Group Head and Chief Risk Officer.

ASHER MOVES TO REAL ESTATE SECURED LENDING

Anique Asher, who led the Strategy and Operating Group, becomes Executive Vice President, Real Estate Secured Lending.

MCGINNIS ASSUMES CHIEF RISK OFFICER RESPONSIBILITIES

Shannon McGinnis, previously Executive Vice President and Deputy Chief Risk Officer, has been named as Scotiabank's new Chief Risk Officer, succeeding Thomas.