TORONTO, ON - September 28, 2015 /CNW/ - Scotiabank is pleased to announce that Eduardo Pacheco has been appointed a new member of the Bank's Board of Directors.

"Through his extensive experience and knowledge of the Colombian marketplace, Eduardo brings deep regional and business insights to the Board," said Thomas O'Neill, Chairman of the Board of Directors at Scotiabank. "We look forward to his contributions and perspective, particularly as Scotiabank continues its focus on the Pacific Alliance countries of Mexico, Peru, Colombia and Chile."

Mr. Pacheco is the Chief Executive Officer and a director of Mercantil Colpatria S.A. As Head of the Colpatria Group, Mercantil Colpatria S.A. is a multinational industrial firm based in Bogota, Colombia, focused on banking, insurance, construction, health services, infrastructure, investments and mining. Prior to this role, he served as Chief Executive Officer of the Savings and Housing Corporation Upac Colpatria Corpavi, also based in Bogota.

In addition, he is the Chairman of Banco Colpatria Multibanca Colpatria S.A. and Mineros S.A., a Colombian mining business dealing with gold. Mr. Pacheco is also a member of the Superior Council of Universidad de los Andes, one of the most recognized private higher education institutions in Colombia. Mr. Pacheco also sat on the Board of a variety of private organizations, including the Colombian Housing Institute and Comcel, a mobile phone operating business.

Scotiabank is a majority owner of Banco Colpatria, having acquired a 51% stake from Mercantil Colpatria in 2012.

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 21 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 more than 87,000 employees and assets of $863 billion (as at July 31, 2015), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). Scotiabank distributes the Bank's media releases using CNW. For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankNews.