Scotiabank shuffles executive ranks, Phil Thomas to take on COO role

The Bank of Nova Scotia, or Scotiabank, signage is pictured in the financial district in Toronto. THE CANADIAN PRESS/Andrew Lahodynskyj

TORONTO — Scotiabank is shuffling its executive ranks.

The bank says Phil Thomas has been appointed group head and chief strategy and operating officer, replacing Anique Asher who took on the role in July 2024.

Asher has been moved to executive vice-president of real estate secured lending.

Shannon McGinnis is stepping into the chief risk officer role that Thomas has been in since 2021, moving up from her current position as executive vice-president and deputy chief risk officer.

Tracy Gomes has been appointed executive vice-president and chief risk officer for Canadian banking, global wealth management and credit risk, while Meigan Terry has been appointed executive vice-president and chief global corporate and public affairs officer.

Scotiabank says the changes, effective Dec. 2, will support the bank’s strategic priorities and accelerate progress toward its medium-term objectives.

This report by The Canadian Press was first published Nov. 18, 2025.