Scotiabank names new CEO of MD Financial Management

Pamela Allen brings 16 years of financial planning experience as she takes the helm at physician-focused firm

Scotiabank names new CEO of MD Financial Management

Scotiabank has named Pamela Allen as the new CEO of MD Financial Management Inc. (MD) effective immediately. She’s the first female executive to hold this position, and is coming in following the retirement of Daniel Labonté.

Alex Besharat, executive vice-president and head, Canadian Wealth Management at Scotiabank, said in a statement, "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."

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Allen has a degree in business administration from the University of Alberta and is a Certified Financial Planner. With a background in financial planning, she has more than 30 years of expertise in the financial services sector.

She has held several positions of increasing responsibility since she joined MD 16 years ago, with her most recent position being Vice President, Client Value & Performance.

In each of her roles, Allen has been a leader who has used her knowledge of wealth management to benefit both MD staff and advisors as well as patients and their families.

"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," Allen said.

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"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."