Scotiabank is continuing to build out what began as a tempered infrastructure effort into a dedicated global business with a newly appointed leader as well as a hiring spree.
The financial services provider put managing director John Kirwan in charge of its global infrastructure finance team. Toronto-headquartered Scotiabank announced his appointment Thursday.
Kirwan, who is based in London, joined Scotiabank in 2010 and had been head of infrastructure for Europe, Middle East and Asia (EMEA). Prior to Scotiabank, he worked for a decade at Dublin-headquartered private financing initiative (PFI) stalwart Depfa Bank.
Before Kirwan's appointment, the company relied on global energy head Matt Giffen and managing director David Konarek to co-head infrastructure globally.
Scotiabank pointed out its infrastructure business, launched in 2008, has amassed “notable success,” including winning a mandate as financial adviser and lead arranger on the Presidio Parkway public-private partnership (PPP) in San Francisco.
Growth necessitated a fulltime team head, but Kirwan added Scotiabank is hiring staff. He declined to provide detail, opting to be “purposely vague,” but noted the team is adding a number of what he called junior level personnel to keep pace with what has become, for Scotiabank, a global business.
The company has a 30-person infrastructure team.