ST. JOHN'S, April 7 /CNW/ - Undergraduate business students pursuing international study abroad opportunities can now access increased scholarship, bursary, and award funding thanks to a generous donation from Scotiabank. The $500,000 endowed donation, allocated to support an International Exchange Student Support Program within the Faculty of Business Administration (FBA), is the largest single contribution Scotiabank has ever made to the university.

"As Canada's most international bank, supporting Memorial's business students in their studies abroad demonstrates the importance we attach to Canadians gaining a broader understanding of different cultures," said Rick Waugh, President and Chief Executive Officer, Scotiabank. "We are crossing into a new frontier in business that is increasingly global. To succeed in the coming years Canadian businesses will need to ensure that their workforces reflect and understand the diverse and multinational customers and communities they serve, both abroad and here in Canada."

"We are very proud to have a number of Scotiabankers who are graduates of Memorial University, including two who are among our executive team and important contributors to our growth. Wendy Hannam is the Executive Vice President, Sales and Service, Products and Marketing with International Banking, and Jane Rowe is the Executive Vice President, Special Accounts Management and Retail Credit Risk. We are very fortunate to be able to draw on their expertise and skills."

The donation will enable the FBA to strengthen its international outreach efforts by encouraging more students to develop international business competence. Through the faculty's International Programs Office (IPO), business students are able to spend a semester abroad at one of 27 partner institutions all over the world. Since 1993, nearly 400 students have gone on an international exchange.

"For students interested in studying abroad as part of their Memorial University experience, a scholarship, bursary, or award can often make all the difference," said Dr. Christopher Loomis, Memorial's President and Vice-Chancellor, Pro Tempore. "Thanks to Scotiabank, more of our business students will be able to avail of these increasingly important and transformative opportunities. Scotiabank's support will significantly advance our efforts to prepare our students for professional success in a complex, global business environment."

The donation was presented today at a reception held at the Johnson GEO CENTRE in advance of the Bank's Annual General Meeting, to be held in St. John's on April 8. Dr. Loomis and Mr. Waugh were joined by Dr. Wilfred Zerbe, Dean, Faculty of Business Administration; the Honourable Dr. John C. Crosbie, Lieutenant Governor of Newfoundland and Labrador; John Mayberry, Chair of Scotiabank's Board of Directors; Scotiabankers and Memorial alumni, Jane Rowe and Wendy Hannam; as well as members of the university community.

The FBA has undergraduate exchange partnerships in Australia, Belgium, China, Czech Republic, England, France, Germany, Ireland, Italy, Malaysia, Mexico, the Netherlands, New Zealand, Norway, Singapore and Sweden. Internationally, Scotiabank operates in some 50 countries around the globe, but has particularly strong links to Latin America, the Caribbean, and Asia.

Scotiabank's history in Newfoundland and Labrador dates back to 1894, when it established its first office in St. John's. Today Scotiabank has more branches and is present in more communities in Newfoundland and Labrador than any other bank.

About Memorial University

Founded in 1925 as a living memorial to Newfoundland's war dead, Memorial University College was elevated to degree-granting status in 1949 as Memorial University of Newfoundland. Today, the university is the largest in Atlantic Canada, with over 17,000 students. Memorial provides excellent undergraduate, graduate and professional programs in virtually all disciplines.

Memorial's Faculty of Business Administration is recognized as a leader in Canadian business education, offering innovative programs at the undergraduate and graduate levels. Graduates of the faculty occupy positions of leadership in private and public sectors provincially, nationally, and internationally, and its undergraduate and graduate students boast the best case competition record among Canadian universities. The faculty is home to the Gardiner Centre, which provides executive education, management development and business solutions to client organizations and individuals. For more information, visit www.business.mun.ca.

About Scotiabank

Scotiabank is committed to supporting the communities in which we live and work, both in Canada and abroad. Recognized as a leader internationally and among Canadian corporations for its charitable donations and philanthropic activities, in 2009 the Bank provided about $39 million in sponsorships and donations to a variety of projects and initiatives, primarily in the areas of healthcare, education, social services and arts and culture. For more information, visit www.scotiabank.com.

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