Staff
Rick Waugh, CEO of Scotiabank, plans to retire effective Nov. 1, 2013, after 10 years in the role and 43 years with the bank.
He will remain a director of the board and assume the role of deputy chairman of Scotiabank until Jan. 31, 2014.
The board of directors has appointed Brian Porter to replace him.
He was appointed to the role of president in November 2012; just prior to that he was group head, international banking, overseeing all of the bank’s personal, small business and commercial banking operations in more than 55 countries outside of Canada.
Porter joined Scotiabank in 1981 and has held a variety of other management positions, including deputy chairman of global banking and markets.