Jun 2012 Financial News

Anya Schnoor promoted

Jun 04, 2012

In five months, Anya Schnoor will take over the country operations of Scotiabank, but not in Jamaica. Instead, she will replace Richard Young as head of Scotiabank Trinidad and Tobago Limited, subject to regulatory approvals. Young retires on October 31.

Schnoor was seconded to Toronto last year in a role that was vaguely described as developmental.

Now Scotia Group said its vice-president was being trained for the Trinidad job.

"During the past several months, Ms Schnoor has been in preparation for this senior level appointment by participating in an executive orientation programme," the bank said in a statement Friday.

"Her extensive background in wealth management and insurance combined with her strong leadership skills will serve her well as head of Scotiabank Trinidad and Tobago."

A month ago when Schnoor's training was winding down, there was market chatter that she was headed back home to take over from Bruce Bowen, but the bank then told Sunday Business that no succession was imminent.

Prior to her Canada assignment on November 1, 2011, Schnoor, an executive vice-president at the group level, ran the bank's wealth subsidiary Scotia Investments Jamaica Limited as its CEO. It was Schnoor who led the integration of Dehring Bunting & Golding into the Scotiabank Group at its acquisition in 2006. DB&G was rebranded Scotia DBG and finally Scotia Investments.

Long expected move

The market has long expected that Schnoor would run Scotia Group some day, especially after former heir apparent Minna Israel jumped ship to take over the country operations of rival RBTT Jamaica, now rebranded RBC Royal Bank Jamaica.

The process appears to have been interrupted when Toronto and former head of the Jamaican operations William Clarke fell out of favour and ended up fighting over compensation in court after Clarke's departure in late 2008.

Bowen stepped in to fill the gap left by Clarke, and has run the bank now for three and a half years, since November 1, 2008.

Bowen has a 21-year track record with Scotiabank. His other Caribbean assignments have included Cayman Islands, Trinidad and Tobago, and Puerto Rico.

Schnoor has a 20-year track record in wealth management and banking. She started her career at Eagle Unit Trust, joined Pan Caribbean Merchant Bank in 1998; and has been working with Scotia Group since 2006.

She was educated at Barry University in Florida, where she qualified for an MBA, and a degree in finance and international business from Florida International University.


Source:
business@gleanerjm.com
Jamaica Gleaner
Sunday June 3, 2012

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