Richard E. Waugh

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Richard E. Waugh (born 1947) is a Canadian banking executive. Born in Winnipeg, Manitoba, he is the Deputy Chairman of Scotiabank, and an Officer of the Order of Canada.[1] He was the Chief Executive Officer of Scotiabank,[2] and has been since January 2004.[3]


In 2007, he was appointed by government officials to offer his views at summit talks regarding business prospects in Latin America.[4] Waugh publicly advocated for more transparent rules regarding foreign takeovers of Canadian businesses in 2010.[5] Waugh was cited as having the highest CEO pay increase of 29% in 2009. He earned C$9.7 million in 2009, including salary, bonus, and equity-linked compensation, according to Bloomberg News.[6] He also sits on the boards of many philanthropic organizations. Also, in 2009, he received the Corporate Social Responsibility Award from the Foreign Policy Association in New York City, and more recently, was conferred by the President of the Dominican Republic the Order of Merit for distinguished service to the country.[7] Announced his retirement on 5/31/2013 to be succeeded by Brian Porter effective Nov. 1, 2013.


He obtained his undergraduate degree from the University of Manitoba. He holds an MBA and an Honorary Doctor of Laws degree from York University's Schulich School of Business.[8]

Personal life[edit]

Waugh resides in Toronto. He is married and has three children.


  1. ^,,540,00.html
  2. ^ CanWest News Service (July 17, 2007). "Canada offers unique style of leadership in Americas, PM tells Chile". Retrieved 2010-01-06. “I think it’s just great that Canada’s showing some leadership in Latin America,” said Richard Waugh, the President and CEO of Toronto-based Scotiabank, 
  3. ^ "Scotiabank:Richard E. Waugh, Chief Executive Officer". Globe Investor. Retrieved 18 March 2013. 
  4. ^ CanWest News Service (August 20, 2007). "Three Amigos launch summit talks amid protests". Retrieved 2010-01-06. The Canadian members of the council, each appointed by Ottawa last summer, are ... and Richard Waugh, of Scotiabank. 
  5. ^ News Services (November 6, 2010). "BHP bid shows Canada needs clear rules: Waugh". Nanaimo Daily News. Retrieved 2010-01-06. Canada needs clear rules on foreign takeovers after the federal government blocked BHP Billiton Ltd.'s hostile bid for Potash Corp. of Saskatchewan Inc., Bank of Nova Scotia chief executive Richard Waugh said. 
  6. ^ Sean B. Pasternak, Bloomberg (March 5, 2010). "Canadian bank CEO pay rises 10% as TD, Royal top Goldman Sachs". Retrieved 2010-01-06. Bank of Nova Scotia CEO Richard Waugh was awarded the biggest increase, 29 percent, followed by ... Amid the worst financial crisis since the Great Depression, Canadian banks remained profitable last year, largely avoiding debt-related write-downs as stock prices for the eight publicly traded lenders increased. ... Bank of Nova Scotia ... awarded CEO Waugh C$9.7 million in 2009, including a salary, bonus and equity-linked compensation. 
  7. ^ "At a Glance - Richard Waugh". Forbes. Retrieved 8 February 2013. 
  8. ^ "Bank Of Nova Scotia". Bloomberg Businessweek. Retrieved 17 June 2013. 

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