TORONTO, June 10, 2011 /CNW/ - Scotiabank today announced the appointment of Troy Wright to the position of Executive Vice-President, Retail Distribution, Canadian Banking, effective July 18, 2011. Troy is currently the Chief Executive Officer of Scotiabank de Puerto Rico.

"One of Scotiabank's distinct competitive advantages and fundamental strengths is the focus we place on leadership development," said Rick Waugh, Scotiabank President and CEO. "As Canada's most international bank, we also have the advantage of enabling talented employees to gain vital experiences in multiple markets. While he has significant experience in the Canadian market, Troy has been instrumental in developing our operations in Mexico and Puerto Rico and I look forward to his contribution to our Canadian Banking business."

Troy will be responsible for the operations and profitability of the Canadian retail and small business customer distribution channels.

"I am thrilled to have Troy head our retail operations in Canada," said Anatol von Hahn, Scotiabank Group Head of Canadian Banking. "I have worked with Troy in other countries and have full confidence in his leadership and in his ability to deliver solid results. Scotiabank has the expertise, products, and services to meet our Canadian customers' unique needs, and under Troy's leadership we look forward to building on our retail success in this market."

In addition to his most recent position as CEO of Scotiabank de Puerto Rico, Troy has completed a number of cross divisional assignments that position him well for this leadership role, including Senior Vice-President of Mergers and Acquisitions for International Banking; Senior Vice-President of Commercial Banking in Canada and Senior Vice-President of Capital Markets for Scotiabank Mexico.

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 70,000 employees, Scotiabank Group and its affiliates serve some 18.6 million customers in more than 50 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets above $571 billion (as at April 30, 2011), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.