It is pretty much certain that this year’s #4 ranked CEO will not make a return to next year’s list. Not because of some precipitous slide in performance or expectations. On the contrary, it is expected that this high achiever will continue to achieve at a very high level. However, this CEO will be making a move that will see her ineligible for this listing.

Schnoor took over the country operations of Scotiabank, but not in Jamaica. Instead, she replaced Richard Young as head of Scotiabank Trinidad and Tobago Limited, when Young retired on October 31, 2011. “Her extensive background in wealth management and insurance combined with her strong leadership skills will serve her well as head of Scotiabank Trinidad and Tobago,” read a statement from the Scotia Group read in regard to her promotion.

In fact, as the transition to her promotion neared, there was some amount of market chatter that she was headed back home to take over from Bruce Bowen, head of Scotia Bank in Jamaica. The bank however refuted that suspicion, stating that no succession was imminent.

The market has long expected that Schnoor would run Scotia Group some day, especially after former heir apparent Minna Israel jumped ship to take over the country operations of rival RBTT Jamaica, now rebranded RBC Royal Bank Jamaica.

Of her involvement with the banking giant, Schnoor said when she first set foot in the banking institution, she never saw this day coming. However, she knew that Scotiabank was a place one aspired to be because “it was the biggest bank; the best bank, the bank that had been around the longest and the bank that had done the most to Jamaica and the one that had played the most important role in the country’s development”.

Prior to taking up the position, she underwent intense training in Canada. At the time, here’s what she had to say: “I have been focused on the wealth management and insurance sides of the bank but my superiors now want me to learn more about the retail, corporate and commercial banking aspects of the business, so those will be my main areas of focus for training in Toronto.”

Ms. Schnoor served as Chief Executive Officer of Scotia Investments Jamaica Ltd. (formerly, Dehring Bunting & Golding Ltd.) from July 1, 2007 to November 1, 2011. She served as Executive Vice President of Wealth Management and Insurance at Scotia Group Jamaica Ltd. since February 2010, where she was responsible for the Group’s Wealth Management Division which includes Scotia Insurance, the provider of ScotiaMINT, Scotia Private Client Group and the newly acquired investment company. She served as Senior Vice President of Wealth Management and Investments at Scotia Jamaica Life Insurance Co. Ltd.

She has over 17 years of experience in the areas of investments, financial services and banking. She served as General Manager of Eagle Unit Trust.  She served as the Chief Operating Officer and Senior Vice President at Pan-Caribbean Financial Services Ltd. and was responsible for its operational functions, marketing, branch distribution and technology.

She is actively involved in the financial services community.  She served as the President of the Primary Dealers Association.  She serves on the board of Heart Trust NTA. Ms. Schnoor is a Member of the HEART/NTA Finance Committee. In terms of her training, she holds an MBA from Barry University and a BA in Finance and International Business from Florida International University.

Scotia Investments Jamaica Ltd. is a subsidiary of Scotia Group Jamaica Limited (Scotiabank Group) and represents the investment arm of the Group. Scotia Investments currently offers the widest array of investment products and services in Jamaica which includes: money market investment products, unit trust and mutual funds, stockbrokerage and equity trading services, pension and asset management and cambio services.

Scotia Investments is also an authorized primary dealer, through which the Bank of Jamaica (BOJ) conducts its open market trading operations.  They have five branches islandwide and Investment Advisors positioned in 26 Scotiabank locations.  An integral area of Scotia Investments is their cadre of talented, experienced and motivated professionals, who deliver the firm’s menu of products and services based on comprehensive training.

It should be very interest to see how Scotia Investments new CEO Lissant Mitchell, places on the next year’s list. From all indication he is already off to a flying start. The company reported a 15 per cent increase in second-quarter net profit to $536 million, boosted by operational efficiencies and growth in non-interest income. The wealth management arm of Scotiabank Jamaica posted total revenues of $1.06 billion for the three-month period ending April 2012, seven per cent more than the 2011 second quarter.

Scotia Investments reported that for the financial year ended October 31, 2011. Net income for the year amounted to $1.985 billion representing an increase of $498 million or 33.5% over the $1.487 billion that was reported for last year. The increase year over year is due to improved non-interest revenue and lower taxation charges. Net income pre-tax was $2.647 billion up $203 million from the previous year. Net income for the final quarter amounted to $577 million, up $102 million or 21% above the $475 million earned in the previous quarter. Earnings per share (EPS) for the year was $4.69 compared to $3.51 for last year. The company’s return on average equity (ROE) stood at 20.39% at the end of the financial year versus 17.64% for the previous year.

In commenting on the results, new CEO Lissant Mitchell stated, “We have produced another solid performance for this financial year. I am especially pleased given that our results were achieved in a challenging economic climate. We continue to streamline the operations of the company to reflect market realities and ultimately diversify away from reliance on net interest income.BM