Scotiabank today announced the appointment of Brian Porter as chief risk officer and Stephen McDonald and John Schumacher as co-heads of Scotia Capital, effective November 1.

Porter, who is deputy chairman, Scotia Capital and head of Canadian Capital Structuring, has been with the Scotiabank Group (including McLeod Young Weir) for almost 25 years. In his new position, he will report directly to Scotiabank President and CEO Rick Waugh in his new role.

“(Porter) is an exceptional leader who brings a tremendous depth of experience, particularly in financial markets and products, to his new position. He will play a critical role in leading the Bank’s global risk management – a function that is particularly important in a major international bank, like Scotiabank,” Waugh said in a statement released today.

Porter will be replacing Warren Walker, currently the Bank’s executive vice president, Global Risk Management, who is leaving the bank for personal reasons after more than 20 years of service.

McDonald, currently deputy chairman, Scotia Capital, and U.S. Country Head, becomes co-head, Scotia Capital, and head, Global Corporate and Investment Banking. Schumacher, who is now deputy chairman, Scotia Capital, and head of Global Trading, becomes co-head, Scotia Capital, and head, Global Capital Markets.

In June, the bank announced that Scotia Capital chairman and CEO David Wilson will be retiring on October 31.