Toronto-based Bank of Nova Scotia has appointed Tom McGuire as executive vice-president and group treasurer, and announced the sale of its operations in El Salvador.

McGuire will succeed Andrew Branion, who will retire after 22 years with the bank. Branion will continue to serve as the chairman of the board of directors of Scotiabank (Ireland) Designated Activity Company, Scotiabank said.

McGuire will be responsible for “managing Scotiabank’s global treasury and investment operations, including medium-term and capital funding, asset/liability management, liquidity and public and private investment portfolios,” the bank said in a statement.

McGuire joined Scotiabank in 2018. Previously, he was the treasurer of Barclays Americas and Barclays Group U.S. LLC, an intermediate holding company. He has also held leadership roles in the capital markets groups of Goldman Sachs, Lehman Brothers and Barclays. His appointment is effective Feb. 11.

Scotiabank’s sale of its banking and insurance operations in El Salvador to Panama-based Imperia Intercontinental Inc. is part of a strategy “to focus on key markets which can generate greater scale,” the bank said.

The transaction is expected to result in an after-tax loss of approximately $170 million to be recorded in Q2 2019, the bank said.

Scotiabank announced the sale of its operations in nine Caribbean countries this past November, and the sale of its pension and insurance business in the Dominican Republic in December.