Power Corp. of Canada has hired veteran Scotiabank executive Jake Lawrence as its next chief financial officer.

Lawrence, who was responsible for Scotiabank’s wholesale banking and capital markets business, as group head of global banking and markets will join Power Corp. effective March 18.

He will replace Gregory Tretiak, who took a medical leave of absence last year.

Scotiabank said Paul Scurfield has been appointed as global head of capital markets, global banking and markets, while Michael Kruse has been named interim global head of corporate and investment banking, global banking and markets.

Scurfield joined Scotiabank in 2019 and had led the bank’s global fixed income, commodities and currencies business.

Kruse, who joined Scotiabank in 2018, was head of global banking and markets in the U.S.