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Bank of Nova Scotia’s brokerage business is shaking up its leadership.

Craig Gilchrist, chief investment officer at Scotia Wealth Management, was named interim head of ScotiaMcLeod Inc., the brokerage division of Canada’s third-largest bank, according to people familiar with the matter. Mr. Gilchrist has been with the bank for about a decade.

His appointment follows the departure of Rob Djurfeldt, who was managing director and head of ScotiaMcLeod, those people said. The sources were granted anonymity because the matter is confidential.

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The leadership change was announced in an internal memo on Wednesday, the sources said. Scotiabank did not immediately provide comment. Mr. Gilchrist and Mr. Djurfeldt could not be reached for comment on Thursday.

Mr. Djurfeldt joined the bank over 28 years ago as a wealth adviser in London, Ont. During his tenure, he moved into various branch manager and director roles, including time in Mexico City with the bank’s international wealth management division. He became the head of ScotiaMcLeod in 2015, replacing Alex Besharat, who was appointed as Scotiabank’s head of Canadian wealth management.

Earlier this month, Scotiabank announced plans to restructure its wealth-management division. As part of that overhaul, the bank will separate its wealth-management results, which are currently reported as part of its Canadian banking arm, as a separate business line. The new division, which will be known as global wealth management, commences on Nov. 1.

Glen Gowland, executive vice-president of global wealth management, will lead the new wealth-management division, reporting to chief executive officer Brian Porter.

Scotiabank also announced that its Canadian banking head, James O’Sullivan, is leaving his role on June 1, but will stay on as an adviser for the rest of this year. Succeeding him as group head of Canadian banking is Dan Rees, who has been in charge of operations at Scotiabank.

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