MEXICO CITY & TORONTO, Oct. 2, 2012 /CNW/ - Scotiabank today announced the appointment of Troy Wright as President and CEO of Grupo Financiero Scotiabank Mexico.

"I am pleased to welcome Troy back to International Banking and to Mexico in his new role as President & CEO," said Dieter Jentsch, Scotiabank Executive Vice President for Latin America. "Troy's depth and breadth of experience as well as his first-hand knowledge of the Mexico market will be assets to the Bank as we continue to develop and execute our growth strategy."

Prior to this role, Troy served as Executive Vice President of Retail Distribution in Canadian Banking, responsible for more than 1,000 branches and more than 20,000 employees. In his new role he will be reporting to Mr. Jentsch.

"One of Scotiabank's distinct competitive advantages and fundamental strengths is the emphasis we put on leadership development," said Rick Waugh, Scotiabank President and CEO. "Mexico is a key piece of our Latin American strategy and I believe Troy's knowledge and experience will benefit our entire team in Mexico."

In addition to his most recent position, Troy has completed a number of cross-business line assignments that position him well for this leadership role, including CEO of Puerto Rico, Senior Vice President (SVP) of International Mergers & Acquisitions; SVP of Commercial Banking in Canada and SVP of Capital Markets in Mexico, where he served for six years.

During his career Mr. Wright also served as Head of the Puerto Rico Bankers Association and the Canadian Chamber of Commerce in Mexico.

"The board and I unanimously support the appointment of Mr. Wright and believe his experience will allow us to move forward in the growth and development of our operations," said Peter Cardinal, Chairman of the Board of Scotiabank Mexico. "On behalf of the Board of Directors and employees of Scotiabank Mexico I would like to welcome Troy back to Mexico and look forward to working closely with him."

About Scotiabank
Grupo Financiero Scotiabank Mexico is part of Scotiabank, one of North America's premier financial institutions and Canada's most international bank. Grupo Scotiabank is one of the leading financial institutions in Mexico, with 711 branches and 1,561 ABMs. With more than 10,500 employees across Mexico, the Bank offers customers a wide range of products and services including personal, commercial, small business, corporate and investment banking. For more information visit www.scotiabank.com.mx.

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 81,000 employees, Scotiabank and its affiliates serve some 19 million customers in more than 55 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets of $670 billion (as at July 31, 2012), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

SOURCE: Scotiabank