TORONTO, Dec. 15, 2023 /CNW/ - Today, many current and former Scotiabankers are mourning the passing of Peter Godsoe—visionary leader and former Chairman and Chief Executive Officer of Scotiabank from 1993 to 2003.

"Today many Scotiabankers are remembering the great business leader, individual and family man that Peter Godsoe was," said Scott Thomson, President and Chief Executive Officer at Scotiabank. "Peter's incredible career at Scotiabank spanned almost four decades, as he worked his way up from a teller to Chairman and CEO, and those who worked with him fondly remember the visionary and forward-looking leader that he was."

During his time at the helm of the Bank, Mr. Godsoe worked to grow the Bank's scale. He oversaw the purchase of both National Trust and Montreal Trust—significant acquisitions that grew Scotiabank's presence domestically. He also saw opportunity for the Bank abroad in markets such as Mexico, where Scotiabank took a controlling stake in Grupo Financiero Inverlat SA.

"Peter was prescient in his vision for our unique North American connectivity. He saw the immense opportunity in—and potential of—Mexico, and led the expansion of our presence there," continued Mr. Thomson. "He was also ahead of his time in his strong support for diversity and inclusion and as a champion for women in leadership, and left an exceptional and enduring legacy for all of us here at Scotiabank and the world around him."

In 1993, Mr. Godsoe appointed a special independent task force to find out why so few women held upper management positions and to determine how to improve this situation, and he also oversaw the appointment of the Bank's first woman Executive Vice President. During Mr. Godsoe's tenure, the Bank also changed its definition of spouse to permit benefit coverage for same-sex partners.

For his success in business and his overarching generosity, Mr. Godsoe was awarded the Order of Canada in 2001.

The Peter Godsoe/Scotiabank Scholarships in Financial Engineering and International Finance at the Rotman School of Management were established in 2003 upon his retirement as Chair and CEO. The Bank will be looking to further honour his legacy in the months ahead.

Scotiabank's vision is to be our clients' most trusted financial partner, to deliver sustainable, profitable growth and maximize total shareholder return. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success 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 assets of approximately $1.4 trillion (as at October 31, 2023), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on X @Scotiabank.

SOURCE Scotiabank