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Appointments Notices

Richard E. Waugh, Chief Executive Officer

Wednesday, January 28, 2004

Richard E. Waugh
From The Globe and Mail

Scotiabank is pleased to announce the appointment of Rick Waugh to the position of Chief Executive Officer. Mr. Waugh will continue to serve as President of Scotiabank and a member of the Board of Directors. His responsibilities include advancing the Bank’s strategies for all stakeholders while fostering and building its culture.

Mr. Waugh began his career with Scotiabank in Winnipeg in 1970 and has served in the Bank’s investment, corporate, international, and retail and commercial areas. He became Senior Vice-President of North American Corporate Banking in 1983, Senior Vice-President at the Bank’s New York Agency in 1985 and then Executive Vice-President in New York in 1991, where he was the Bank’s most senior Officer in the United States. He returned to Toronto to serve as Senior Executive Vice-President of Corporate Banking in 1993. Mr. Waugh was named Vice-Chairman in 1995 and Vice-Chairman, Wealth Management and International Banking in 1998. He was appointed President of the Bank in January of 2003 and elected as Director of the Board in March 2003.

A graduate of the University of Manitoba, Mr. Waugh holds a Master of Business Administration from York University, and is a Fellow of the Institute of Canadian Bankers. He is currently the Director of several of the Bank’s domestic and international subsidiaries. Mr. Waugh is also a strong supporter of various community and educational organizations.

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With approximately 48,000 employees, Scotiabank Group and its affiliates serve about 10 million customers in some 50 countries around the world. Scotiabank offers a diverse range of products and services including personal, commercial, corporate and investment banking. With C$286 billion in assets (as at October 31, 2003), Scotiabank trades on the Toronto (BNS), New York (BNS) and London (BNV) Stock Exchanges. For more information please visit

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