John Hiscock, Senior Vice President of Automotive Finance at Scotiabank Canada
John Hiscock was raised in Cape Breton, Nova Scotia, but migrated to Ontario where he built an impressive career in auto lending in the heart of Canada’s finance sector in Toronto — but he never lost sight of his roots.
Hiscock spoke to Canadian auto dealer on the eve of his retirement as Senior Vice President at Automotive Finance at Scotiabank Canada. He reflected on some of the highlights of his 36-plus career in auto finance, working first for Ford Credit for 20 years, and then another 16 years at Scotiabank.
John Kontos, currently the bank’s Vice-President, Manufacturer Partnerships and Dealer Programs, took the helm on June 2 when Hiscock officially retired.
Hiscock said some of his fondest memories were meeting some of the incredible dealers and leaders in the industry. He said he remembers being so impressed when he heard industry legend Roger Penske, who was in his eighties at the time and running a vast business empire, speak at an event.
“There isn’t a more resilient or persistent bunch of business people in the country than auto dealers. The auto dealers are huge contributors to the economy and it’s been a real pleasure being able to see that happen over the last 36 years.” — John Hiscock
He said Penske could easily cite facts like used car sales figures from one specific dealership, although the company owned more than 200 dealerships across the United States. “That was quite something for such an interesting trailblazing person,” he said.
Hiscock also recalls meeting Bill Ford in Michigan. “I was a young Ford credit employee in Michigan working for Ford, and it was cool meeting someone whose last name was Ford,” said Hiscock. “Those are the things you remember. It was a cool event when you go home and tell your friends that story, when you are a guy that grew up in Cape Breton.”
He said although dealers, bankers, and OEMs work in different parts of the industry, they are all tied together and share a common bond in automotive.
Hiscock, who says his wife retired two years ago, has decided to follow suit. “I recently just turned 60 and it was one of those ages where I felt I could retire from what I was doing.”
In terms of retirement plans, Hiscock said he will enjoy a summer off at his cottage, where he can finally tackle those projects that he never seemed to get around to. He also just returned from a trip to Ireland and plans to visit Australia for a month later this year.
He said, as those who have golfed with him can attest, he also has a lot of work to do on his game. “I’ve played on far too many golf courses that are much, much better than my game deserves,” he said with a laugh.
Hiscock didn’t rule out a return to the industry in some part-time or volunteer capacity, but that’s to be determined down the road. After all, he’s never taken more than two weeks of holidays in a row during his long career.
He said he didn’t set out to work in the auto industry, but once he got a taste, there was no turning back. “Once you get in there you get to work with lots of really interesting entrepreneurs who run the dealerships,” he said. “It’s been lots of fun, and it went by in what feels like a blink of an eye.”
Hiscock added that he’ll miss working with dealers. “I’ve appreciated their entrepreneurial nature, and their resilience through economic cycles and technology changes,” he said. “There isn’t a more resilient or persistent bunch of business people in the country than auto dealers. The auto dealers are huge contributors to the economy and it’s been a real pleasure being able to see that happen over the last 36 years.”
His first auto industry job was doing collections for Ford Credit in Nova Scotia, although the position was advertised as a customer service representative.
“When I look back at my career, honestly, that collection job was probably one of the most fun jobs of my career. We would call people across the Maritimes who were past due for their car loans. This was not at all what I was expecting to be doing with a finance degree,” he said. “We called it dialing for dollars.” But the job taught him negotiation skills, problem solving, and many other aspects around auto finance that helped him build his career.
After 20 years there, he migrated to Scotiabank after being wooed by the bank’s leader (at the time, Ron Porter), who passed away last May. “Ron would tease me every now and then, and say one of these days you’re going to come and work for me. I never thought that would ever be the case, but Ron was always a pretty persuasive guy in his own way,” said Hiscock.
He said he was blessed over his career to work with great mentors like Porter and Ruth McBride, who he described as an icon in the auto finance industry and who helped Ron build the bank’s auto business.
Hiscock said he’s particularly proud of his team of five vice-presidents: Jacinta Chong-Drayton, Anne Marie Desando, Jennifer Gilbert, Alain Henry, and John Kontos — three of whom are women.
“The group that I’ve been fortunate to work with have really been the reason why I’ve been able to have some success running the business. That’s always how we’ve tried to do it here at Scotiabank is to have a good mix of auto finance people, auto people and bankers and try and keep a diverse workforce experience,” he said.
Hiscock was, and remains, a strong advocate of workforce diversity, equity and inclusion programs, even in a climate where some companies are backing away from those programs due to political pressures.
He said all five of his vice-presidents have been active in various DEI initiatives at the bank and remain strong advocates. Hiscock said 60 per cent of the 700-plus team members in the auto business identify as non-male.
“What’s most important for us here within Scotiabank is that we want people to bring their authentic self to work every day. If they do that, and we sit around meeting rooms and make decisions, we know we are going to make better decisions, which is going to drive better products, which is going to be a better experience for our clients,” he said.
Canadian auto dealer wishes John Hiscock a well-deserved happy and healthy retirement.
