After 16 years at MD, new CEO brings deep
understanding of the unique challenges and opportunities facing
physicians and their families
TORONTO, Nov. 1, 2022
/CNW/ - Scotiabank is delighted to announce that Pamela Allen has been appointed CEO of MD
Financial Management Inc. (MD), effective today. Ms. Allen is the
first woman executive to hold this position. She steps into this
role following the retirement of CEO Daniel
Labonté.
Ms. Allen has more than 30 years of experience in the financial
services industry and a background in financial planning. Since she
joined MD 16 years ago, she has held a number of increasingly
senior roles, culminating in her most recent role as Vice
President, Client Value & Performance. In all of her positions,
Ms. Allen has led with her wealth management insights and
experience in service of physicians and their family members, as
well as in service of MD staff and Advisors.
"Pamela Allen is a leader in the
wealth management industry who has helped shape the MD we know
today. Her deep and wide-ranging knowledge and understanding of
wealth management advice and services and the realities faced by
physician clients and their families will enable MD to continue to
deliver exceptional value for these important clients," said
Alex Besharat, Executive
Vice-President and Head, Canadian Wealth Management at
Scotiabank.
"Together with the MD Leadership Team and MD Advisors, I am
committed to delivering excellence in wealth management services to
physicians and their family members and to helping them to both
meet their unique financial challenges and enjoy a financially
secure retirement," said Ms. Allen. "We will build on our leading
platform of products and services, strengthen and deepen our
relationships with our clients, our colleagues and our partners so
that we can continue to remove that layer of financial stress and
worry from physicians, enabling them to focus on delivering
positive healthcare outcomes to all Canadians."
Ms. Allen is a graduate of the Commerce Program at the
University of Alberta and holds the
Certified Financial Planner (CFP®) designation.
About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our
purpose: "for every future", we help our customers, their families
and their communities achieve success through a broad range of
advice, products and services, including personal and commercial
banking, wealth management and private banking, corporate and
investment banking, and capital markets. With a team of over 90,000
employees and assets of approximately $1.3
trillion (as at July 31,
2022), Scotiabank trades on the Toronto Stock Exchange (TSX:
BNS) and New York Stock Exchange (NYSE: BNS). For more information,
please visit http://www.scotiabank.com and follow us on Twitter
@Scotiabank.
About MD Financial Management
Inc.
With more than 50 years of physician-focused experience, MD
Financial Management Inc. (MD) is dedicated to providing financial
peace of mind to Canada's
physicians and their families, so they can enjoy what matters most
to them while achieving their career and life goals. MD had more
than $50.4 billion in assets under
management as of October 21, 2022. MD
Management Limited was the first of the MD Group of Companies to be
founded, in 1969. MD Financial Management Inc. wholly owns MD
Management Limited. MD Financial Management provides financial
products and services, the MD Family of Funds and investment
counselling services through the MD Group of Companies and Scotia
Wealth Insurance Services Inc. For a detailed list of the MD Group
of Companies visit md.ca and visit scotiawealthmanagement.com for
more information on Scotia Wealth Insurance Services Inc.
CFP® is a trademark owned by Financial Planning Standards Board
Ltd. (FPSB) and used under licence.
SOURCE Scotiabank