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Scotiabank Announces Brian Porter's Appointment As President

TORONTO, Oct. 31, 2012 /CNW/ - Scotiabank announces Brian Porter's appointment as President effective November 1.  Rick Waugh continues in his role as Chief Executive Officer with Brian Porter reporting to him as President.

Brian is currently Group Head, International Banking, and oversees all of the Bank's personal, small business and commercial banking operations in more than 55 countries outside of Canada. Brian was previously Scotiabank's Chief Risk Officer for five years.  He joined Scotiabank in 1981, and has held a variety of management positions, including wholesale, international personal and commercial banking and global risk management.

"I am extremely pleased to welcome Brian to the role of President.  He has had a distinguished and diversified career at Scotiabank and he brings the right amount of breadth and depth to the role," said Rick Waugh, President and CEO, Scotiabank.  "I look forward to working closely with Brian and the whole management team in the year ahead as we focus on bringing diverse solutions to our customers and delivering long-term and sustainable earnings growth to our shareholders."

"I am very excited to take on the role of President and have the opportunity to work directly with Rick Waugh and our whole management team in this capacity," said Brian Porter, Group Head, International Banking. "I have been privileged to work with a tremendously talented group of Scotiabankers across the organization throughout my career."

"The Board is very confident that Brian Porter's appointment positions Scotiabank well to continue to produce strong results and build on the straightforward and proven business model that has worked so well for customers, shareholders and employees," said John Mayberry, Chairman of the Board.

Mr. Waugh will have four direct reports including the President; Chief Operating Officer; Group Head of Global Human Resources and Communications; and, Group Head of Global Risk Management.  All four business lines - Canadian Banking, International Banking, Global Wealth Management and Global Banking and Markets - will report directly to the President.  Mr. Porter will have responsibility for working with the business lines to execute the Bank's five-point strategy with a focus on sustainable and profitable revenue growth.

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