Scotiabank has promoted Brian Porter to president of the bank in a move that at least one analyst believes positions the former head of international banking as next in line for the bank's top job.
Porter takes over as the bank's president from Rick Waugh, who will continue his role as CEO.
Desjardins Securities analyst Michael Goldberg noted Waugh turns 65 in December and that using past succession patterns at the bank as a guide, "Porter also appears set to become CEO when Mr.
Waugh steps down." Scotiabank is Canada's most international bank and, as group head for international banking, Porter oversaw all of its personal, small business and commercial banking operations in more than 55 countries outside of Canada.
