Mike Durland Retiring to Pursue Academic and Community Involvement

TORONTO, ONTARIO--(Marketwired - Feb. 10, 2016) -

Note to editors: There is a video associated with this Press Release.

Mike Durland, Group Head and CEO, Global Banking and Markets at Scotiabank (BNS.TO)(BNS.TO), has announced his decision to retire. After a 23-year career at Scotiabank, Mike has made a personal decision to pursue his lifelong interest in academia, community-building, and a focus on entrepreneurship, innovation and technology.

Scotiabank also announced today that two seasoned and experienced executives will take on new accountabilities. This transition will take place over the next few months. Dieter Jentsch, with more than 30 years of experience in Canada and internationally, and currently Group Head, International Banking, will become Group Head, Global Banking and Markets.

Ignacio 'Nacho' Deschamps, an international banking executive and digital pioneer with 30 years of experience, and currently Strategic Advisor, to the President and CEO, Global Digital Banking, will become Group Head, International Banking and Digital Transformation.

"We have deep executive bench strength consistent with our ongoing efforts focused on leadership depth and diversity. With James O'Sullivan leading our Canadian Banking business, and Dieter Jentsch and Nacho Deschamps leading our Global Banking and Markets and International Banking businesses respectively, we are well positioned as we continue to build a better bank," said Brian Porter, President and CEO, Scotiabank. "On behalf of the team at Scotiabank, I wish Mike all the best as he takes an exciting and different path forward into retirement. He has had a distinguished career and made a tremendous contribution to Scotiabank and our wholesale banking business over the last 20 years."

Dieter Jentsch Select Career Highlights:

• Educational background includes a Bachelor of Science Degree in Agriculture, Master of Business Administration, and Advanced Management Program at INSEAD.

• Joined Scotiabank in 1983.

• Held progressively senior roles including:

  • Senior Vice President, Canadian Commercial Banking

  • Regional Senior Vice President, Domestic Branch Banking, Toronto Region

  • Managing Director and Head, Scotia Private Client Group, Wealth Management

  • Executive Vice President, Commercial Banking, Canada

  • Executive Vice President, Latin America

  • Group Head, International Banking.

Ignacio 'Nacho' Deschamps Select Career Highlights:

• Educational background in industrial engineering with a Masters of Engineering and Administration from George Washington University.

• 30-year banking career including Inter-American Development Bank, Bancomext, Bancomer and BBVA.

• Former President of the Mexican Bankers Association, where he led significant consultations with government, regulators and key stakeholders during the financial crisis.

• Currently Strategic Advisor to Scotiabank's President and CEO, Global Digital Banking.

About Scotiabank:

Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and parts of Asia. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of approximately 90,000 employees and assets of $856 billion (as at October 31, 2015), Scotiabank trades on the Toronto (BNS.TO) and New York Exchanges (BNS.TO). Scotiabank distributes the Bank's media releases using Marketwired. For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankNews.

To view the video associated with this press release, please visit the following link: https://youtu.be/cnYeORJv99U.