(Reuters) – Bank of Nova Scotia on Wednesday named insider Terri-Lee Weeks as the chief executive of its unit Tangerine, effective Nov. 1, to succeed incumbent Gillian Riley who will retire after a 31-year stint at the Canadian lender.
Weeks joined Scotiabank in September 2021 as executive vice president, Retail Customer.
Riley joined the Canadian lender in 1994 and since then has held several senior executive positions in its commercial banking, small business, retail banking and wealth management businesses. She was the President and CEO of Tangerine for the last six years.
Tangerine, previously known as ING Direct was started in 1997. It was rebranded after Scotiabank bought the business from Netherlands-based parent ING Groep in 2012 for C$3.1 billion.
Last month, Scotiabank’s peer TD Bank also announced that its CEO Bharat Masrani will retire next year.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shailesh Kuber)