A co-director of investment banking services at the Bank of Nova Scotia has left the company after serving in this role for two years.
Adam Sinclair, who joined the bank in 2018, left the company last week. He was responsible for global investment banking and commercial banking services in Canada. Prior to joining Scotiabank, he spent over a decade at Barclays, where he led the Canadian Financial Institutions group of investment banking.
Mr. Sinclair did not respond to requests for comment on his departure. Scotiabank did not respond to a request for comment.
Dany Beauchemin, who co-led investment banking services with Mr. Sinclair and has worked for the bank for almost 20 years, is still listed as co-lead on the company’s website.
In 2019, Mr. Sinclair and Mr. Beauchemin replaced Charles Emond, who was the global head of investment banking for a few months before leaving Scotiabank after 20 years to join Caisse de dépôt et placement du Québec. . Mr. Emond is now President and CEO of the pension fund.
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Executive vacancies in investment banking are rare, according to Adam Dean, founder of Dean Executive Search, a headhunter for the financial services industry. Managers of investment banks, he said, need a particular skill set to be successful.
“Negotiators don’t always make great human leaders,” he said. “The skills required to be successful in a managerial position in an investment bank are very different from the attributes that have made them successful in the past. … A good candidate will have a strategic mindset, influence, collaborative skills and the ability to inspire others.
According to Refinitiv transaction data, Scotiabank is one of the top five investment banks for transactions in Canadian stocks and debt, as well as for initial public offerings.
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