Scotiabank announces new Chief Risk Officer and Co-Heads of Scotia Capital
07 Settembre 2005 - 4:46PM
PR Newswire (US)
TORONTO, Sept. 7 /PRNewswire-FirstCall/ -- Scotiabank today
announced the appointment of Brian Porter as Chief Risk Officer,
effective November 1, 2005. Mr. Porter has been with the Scotiabank
Group (including McLeod Young Weir) for almost 25 years and is
currently Deputy Chairman, Scotia Capital, and Head of Canadian
Capital Structuring. He will report directly to Scotiabank
President and CEO Rick Waugh in his new role. "I congratulate Brian
on his appointment," said Mr. Waugh. "He is an exceptional leader
who brings a tremendous depth of experience, particularly in
financial markets and products, to his new position. He will play a
critical role in leading the Bank's global risk management - a
function that is particularly important in a major international
bank, like Scotiabank." Mr. Porter will be replacing Warren Walker,
currently the Bank's Executive Vice President, Global Risk
Management. Mr. Walker is leaving the Bank on November 1, 2005 for
personal reasons after more than 20 years of service. In addition,
new Co-Heads for Scotia Capital were announced. Stephen McDonald
and John Schumacher were named to run Scotia Capital, also
effective November 1, 2005. Mr. McDonald, currently Deputy
Chairman, Scotia Capital, and U.S. Country Head, will be promoted
to Co-Head, Scotia Capital, and Head, Global Corporate and
Investment Banking. Mr. Schumacher, who is now Deputy Chairman,
Scotia Capital, and Head of Global Trading, will be promoted to Co-
Head, Scotia Capital, and Head, Global Capital Markets. Both Mr.
McDonald and Mr. Schumacher will report directly to Mr. Waugh in
their new positions. "This new structure reflects the significant
depth of leadership talent at Scotia Capital and the specific
expertise of each of these officers," said Mr. Waugh. "Both Steve
and John are well respected for their knowledge of Canadian and
international corporate lending and capital markets, and their
commitment to client service. Together, they will be instrumental
in continuing to position Scotia Capital as a leading corporate and
investment bank and an integral part of the future growth and
success of the Scotiabank Group." These appointments follow the
earlier announcement in June that current Scotia Capital Chairman
and CEO David Wilson will be retiring on October 31, 2005. "We are
confident these changes to our executive team and this structure
represents the right approach to ensuring the continued success of
Scotia Capital and the Scotiabank Group," said Mr. Waugh. Mr. Waugh
also commented on David Wilson's departure and Warren Walker's
decision to leave the Bank. "I'd like to thank David for his
tremendous contribution to our Bank. He has played a key role in
our success for many years, and we wish him continued success,"
said Mr. Waugh. "Warren has done a great job for us in Global Risk
Management and in several other senior positions he held in his
20-plus years with the Bank. We wish him all the best in the
future." 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 $318 billion in assets (as at July 31, 2005), Scotiabank
trades on the Toronto (BNS) and New York (BNS) Stock Exchanges. For
more information please visit http://www.scotiabank.com/.
DATASOURCE: Scotiabank CONTACT: Frank Switzer, Director, Public
Affairs, Scotiabank, (416) 866-7238 or
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