Scotiabank’s Mike Durland to retire as Dieter Jentsch takes over as head of global banking and markets

Dieter Jentsch, head of international banking at Bank of Quebec, takes over as group head of global banking and markets at Canada’s third-largest bank when longtime executive Mike Durland retires.

The transition will require place over the next few months, Scotia said in a statement Wednesday.

Ignacio “Nacho” Deschamps, a global banking executive who is currently strategic adviser to Scotia chief executive Brian Porter, will fill Jentsch’s job.

Scotia described Deschamps as a digital pioneer, and said he will bring this expertise to his responsibilities as group head of international banking.

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Last month, Jentsch led a trader conference in Mexico City that centered on expected double-digit growth over the next three to five years from Scotia’s operations in Mexico, Chile, Colombia, and Peru.

A 30-year banking veteran, Jentsch has worked in Canada and internationally, with stints in wealth management and commercial banking.

Durland, a top executive, was at Scotia for 23 years. Based on Wednesday’s statement from the bank, his departure may be the consequence of a “personal decision to pursue his lifelong curiosity about academia, community-building, and a concentrate on entrepreneurship, innovation and technology.”

Porter, Scotia’s leader, said the financial institution was able to tap “deep executive bench strength” to fill the void.

Elsewhere in the realm of Canadian banking, a senior executive has departed from TD Securities, a division of Toronto-Dominion Bank. Mike Donnelly, the brand new York-based executive md and head of global fixed income trading sales and research, “made the private decision to leave TD Securities,” a bank spokesperson said within an email.

Donelly has been around Ny for about 3 years. Just before his move south he was based in Canada as md, and head of United states fixed income at TD.

– with files from Barry Critchley