Scotiabank splits loyalty off of CMO role

Laura Curtis Ferrera takes over the job as Clinton Braganza moves to a mandate focused on elevating loyalty and partnerships.

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Scotiabank has promoted Laura Curtis Ferrera to the role of SVP and CMO, taking the marketing lead as previous CMO Clinton Braganza moves into a new role dedicated to the bank’s loyalty offering and partnerships.

Curtis Ferrera, most recently the bank’s SVP of marketing for its global wealth management, business banking and Canadian retail divisions, is now leading marketing across all of the bank’s divisions. This comes after leading much of Scotiabank’s response to the pandemic on the marketing front, which has included community care initiatives, providing advice-focused messages to Canadians and getting the word out about the various relief efforts it had untaken. The bank also launched “For Every Future,” a storytelling campaign aiming to show how the bank’s expertise and services have helped a range of different Canadians meet their personal and business financial goals.

Clinton Braganza Clinton Braganza, the bank’s previous SVP and CMO, has been named SVP of customer loyalty and partnerships within Canada, a newly created role at the bank. In the position, he has been tasked with elevating the bank’s loyalty and partnership assets – such as Scotia Rewards and Scene – as well as its partnership assets, like the NBA, with which it recently announced a three-year loyalty partner deal. He will report to Dan Rees, group head of Canadian banking.

The new role gives Braganza a more dedicated focus on a portfolio he is deeply familiar with. He played a pivotal role in not just modernizing the brand’s global identity and leading new initiatives with its loyalty programs during his time as CMO, but helped it land a partnership with MLSE. That has resulted in things like getting the naming right to the arena previously known as the Air Canada Centre, as well as establishing affiliated digital bank Tangerine as the official bank of the Toronto Raptors.

In its most recent quarterly results, Scotiabank reported an earnings loss of $429 million, down 53% from a year ago, falling short of analyst expectations but largely mirroring the results from the other Big Five banks, all of whom are setting aside provisions to help cover the potential impact of defaulted loans that it expects to come in the fallout of the COVID-19 pandemic.