Posts Tagged ‘Scotiabank’

Scotiabank recognized by Junior Achievement Americas with 2017’s Transforming Education Award

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TORONTO, Jan. 25, 2018 /PRNewswire-HISPANIC PR WIRE/ – Scotiabank has been recognized by Junior Achievement Americas (JA) as the winner of the 2017 Transforming Education Award, the maximum recognition that JA gives to its partners at the regional level. Brent Currie, Scotiabank’s Senior Vice-President of Brand Management and Marketing Services, received the award in Toronto, Ontario.

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“We are pleased to partner with Junior Achievement Americas to help young people develop their entrepreneurial, labour and financial skills. This partnership reflects Scotiabank’s commitment to the long-term development of Latin America and the Caribbean,” said Brent Currie, Senior Vice-President, Brand Management and Marketing Services. “At Scotiabank, we’re focused on our future leaders, and recognize that our involvement with Junior Achievement not only helps young people reach their infinite potential, but also helps to ensure communities are set-up for success.”

Junior Achievement Americas has recognized Scotiabank for its ongoing support over the last eight years, allowing JA to not only impact the lives of thousands of young people in the region, but to generate innovations to remain relevant in the face of the needs of young people and the labour market. That is, digitalization of the content of the JA Economics for Success program, the development of the first Regional Online Innovation Camp of JA Americas, and the Road to Success initiative launching.

“We are delighted to recognize Scotiabank for its tireless support to the Latin American and Caribbean region,” said Leo Martellotto, President of Junior Achievement Americas. “Thanks to Scotiabank, and in partnership with them, JA Americas was able to improve the Economics for Success program, generating version 2.0: an online platform through which students learn the same concepts of the original program but in a digital, more interactive way.”

Scotiabank’s CSR priority to invest in young people has been reflected through the Bank’s partnership with Junior Achievement Americas, allowing students from 14 to 18 years of age to participate in national innovation camp competitions that aim to find innovative solutions to specific challenges that the business world faces. Similarly, the Road to Success program aims to help develop the infinite potential of youth in our communities by teaching kids the basic concepts of financial literacy. The initiative will continue to give students a basic understanding of the principles of finance and practical advice on budget planning and money management.

About Scotiabank
Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 24 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 88,000 employees and assets of over $915 billion (as at October 31, 2017), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @Scotiabank.

About Scotiabank’s CSR
Scotiabank believes that every customer has the right to become better off. When customers succeed, businesses, communities, and entire societies benefit as well. Through our CSR strategy, Better Future, Better Off, we seek to create economic, social and environmental value that benefits every customer. Through our five commitments to Customers, Employees, Communities, the Environment and strong Corporate Governance practices, we aim to create a better future for both society and Scotiabank. For more information on our priorities and the impact we have made, please visit www.scotiabank.com/csr.

About JA Americas
As part of one of the world’s largest youth-serving NGOs, JA Americas activates youth for the future of jobs. Through the delivery of hands-on, blended learning in financial literacy, work readiness, and entrepreneurship, we empower young people to grow their entrepreneurial ideas, hone their work skills, manage their earnings, and secure better lives for themselves, their families, and their communities. With 31 countries, the JA Americas network is powered by over 38,000 volunteers and mentors, who serve more than 1 million young people each year. More information at www.jaamericas.org.

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Scotiabank to partner with two Israeli technology leaders to accelerate its digital transformation

TORONTO and NEW YORK, Dec. 6, 2017 /PRNewswire-HISPANIC PR WIRE/ — Scotiabank announced today partnerships with two prominent Israeli technology leaders, Viola Group and Team8.  These partnerships further establish Scotiabank as a leader in the global innovation ecosystem and will help accelerate its development of technology capabilities, best-in-class customer experiences, and expertise in cybersecurity.

Scotiabank is investing in Viola FinTech I, L.P., a new venture fund that will invest in Israeli, European and North American FinTechs across various growth stages. The fund will co-invest alongside other leading global venture capital, private equity and financial institution investors. Their mission is to create mutual value by bridging the gap between financial institutions and innovative startups. The fund is led by Avi Zeevi, Prof. Daniel Tsiddon and Tomer Michaeli, an exceptionally experienced team with proven track records in banking, entrepreneurship and investment.

“We are delighted to partner with Viola Group to accelerate the Bank’s digital transformation and work with the most promising FinTechs across the globe,” said Ignacio (Nacho) Deschamps, Group Head, International Banking and Digital Transformation at Scotiabank. “This partnership will allow us to access Israel’s innovation ecosystem including well-established cybersecurity and anti-fraud expertise by leveraging Viola Group’s unique entrepreneurial and operational expertise.”

“We are honoured to work with a world-class financial institution such as Scotiabank which is truly committed to innovation and its customers worldwide,” said Prof. Daniel Tsiddon, principal of Viola Fintech. “We already see early results of this long-term collaboration and we look forward to working with Scotiabank to accelerate the integration of innovative ideas.”

Scotiabank and Team8, Israel’s most prestigious cybersecurity think tank and company-creation platform, will work together to foster cybersecurity innovation, through the exchange of knowledge, insights, and methodologies. An executive from Scotiabank will sit on Team8’s advisory board alongside Chief Information and Security Officers of other global financial institutions.

“We look forward to our partnership with Team8 to deepen our technology capabilities and know-how, which are foundational to Scotiabank’s digital transformation,” said Michael Zerbs, Chief Technology Officer at Scotiabank. “This partnership will increase our access to Israel’s world-class cybersecurity and fraud prevention ecosystem.”

“We are thrilled that Scotiabank will play a role in our unique company creation model to solve the big problems in cybersecurity. It is truly a win-win partnership,” said Nadav Zafrir, CEO and Co-Founder of Team8 and former Commander of Israeli Intelligence Unit 8200. “Joining our advisory board and pioneering our community of chief information security officers represents Scotiabank’s deep commitment to our shared vision of partnering with the industry to empower resilience within organizations. Their insights and experience bring incredible value to our approach.”

Israel has become known as the “Start-up Nation” and one of the premier places for high-tech firms and innovation. These partnerships are part of a broad digital transformation strategy the Bank is undertaking, which spans over multiple geographies and multiple strategic alliances, such as existing venture capital relationships with QED Investors, Georgian Partners and ScaleUP Ventures. Execution of this strategy has also yielded the creation of the Digital Factories in Canada, Mexico, Chile, Colombia and Peru, and the establishment of partnerships with academic institutions.

About Scotiabank

Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 24 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 88,000 employees and assets of over $915 billion (as at October 31, 2017), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @Scotiabank.

About Viola Group

Viola Group, with over $2.8 Billion under management, is Israel’s premier technology oriented private equity investment group. Viola Group aims to provide long term, world-class returns by identifying and pursuing attractive investment strategies in the vibrant Israeli technology market. Viola Group is comprised of focused independent partnerships including a venture fund, a debt fund and a growth fund. Viola is currently establishing its FinTech arm – a global cross stage FinTech focused venture fund. The group funds, backed by leading global institutional investors from all over the world, have invested in over 200 technology companies. The group was co-founded by Avi Zeevi who is considered Israel’s leading Fintech investor.

About Team 8

Team8, Israel’s most prestigious cybersecurity think tank and venture creation foundry, develops disruptive companies that challenge the biggest problems in cybersecurity today. The Team8 innovation process combines a research team with intimate knowledge of both offensive and defensive aspects of cybersecurity, access to the best cyber talent, and a global syndicate that provides access to customers, partners and key influencers. Team8 was founded by leading cybersecurity experts Nadav Zafrir, Israel Grimberg and Liran Grinberg, all with deep ties to Israel’s famous IDF Technology & Intelligence Unit 8200. It is backed by Microsoft Ventures, Cisco, AT&T, Accenture, Qualcomm, Nokia, Temasek, Mitsui, Bessemer Venture Partners, Eric Schmidt’s Innovation Endeavors and Marker LLC. For more information on Team8, please visit www.team8.vc

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Scotiabank formalizes agreement with BBVA to acquire its shares in BBVA Chile

TORONTO and NEW YORK, Dec. 5, 2017 /PRNewswire-HISPANIC PR WIRE/ — Scotiabank announced today that Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) has formally accepted Scotiabank’s offer to acquire its 68.19% ownership in BBVA Chile, and its interests in certain subsidiaries, for approximately US$ 2.2 billion (CAD$ 2.9 billion). Scotiabank has entered into definitive agreements with BBVA and intends to merge BBVA Chile with its existing operations in Chile (Scotiabank Chile), subject to regulatory approvals.

The Said family, which owns 31.62% of BBVA Chile, has waived its Right of First Refusal to acquire BBVA’s shares of BBVA Chile, but maintains the right to tender all or a portion of its shares in the mandatory tender offer to be carried out by Scotiabank. The Said family has indicated their willingness to potentially remain in the business and, if so, would invest up to approximately US$ 500 million (CAD$ 650 million) in order to own up to 25% of the combined business when Scotiabank Chile and BBVA Chile are merged. In this scenario, and if the transaction is completed, Scotiabank’s Common Equity Tier 1 capital ratio will be impacted by approximately 90 basis points.  Scotiabank’s Common Equity Tier 1 capital ratio would be impacted by approximately 135 basis points, if the transaction is completed and the Said family tenders all of its shares to Scotiabank.

This transaction is in line with Scotiabank’s strategy to increase scale within the Chilean banking sector and the Pacific Alliance countries. It will double Scotiabank’s market share in Chile to approximately 14%, and make Scotiabank the 3rd largest private sector bank in the country.

“We are pleased to have reached an agreement with BBVA to acquire their shares of BBVA Chile.  We look forward to a partnership with the Said family and to build a better bank in Chile,” said Brian Porter, President and CEO at Scotiabank.  “BBVA Chile has a proven track record of providing leading financial products and services to customers across the country and this transaction demonstrates excellent synergy between both banks with customer-centric cultures.”

“This acquisition allows us to create a leading bank in Chile underpinned by a solid risk culture and provides opportunities to accelerate our digital transformation, while building a high performance team,” said Ignacio (Nacho) Deschamps, Group Head, International Banking and Digital Transformation at Scotiabank.

Conference call

A conference call will take place on December 5, 2017, at 8:30 a.m. ET. Interested parties are invited to access the call live, in listen-only mode, by telephone at (416) 640-5944, or toll-free at 1-800-281-7973 (please call five to 15 minutes in advance). In addition, an accompanying slide presentation may be accessed via the Investor Relations page of www.scotiabank.com. Following discussion of the transaction by Scotiabank executives, there will be a question and answer session.

A telephone replay of the conference call will be available from December 5, 2017, to December 20, 2017, by calling (647) 436-0148 or 1-888-203-1112 (North America toll-free) and entering the identification code 9422114#.

About Scotiabank
Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 24 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 88,000 employees and assets of over $915 billion (as at October 31, 2017), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @Scotiabank.

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Scotiabank submits a binding offer to BBVA to acquire its shares in BBVA Chile

TORONTO and NEW YORK, Nov. 28, 2017 /PRNewswire-HISPANIC PR WIRE/ — Scotiabank announced today that it has submitted a binding offer to acquire Banco Bilbao Vizcaya Argentaria, S.A.’s (BBVA) shares in BBVA Chile, which BBVA is willing to accept if BBVA’s minority partner, the Said family, does not exercise its Right of First Refusal under the shareholders agreement between BBVA and the Said family.

BBVA owns 68.19% of BBVA Chile and the Said family owns 31.62% of BBVA Chile. Scotiabank has offered to acquire BBVA’s interests in BBVA Chile, and certain subsidiaries, for approximately US$2.2 billion (CAD$2.9 billion).

This transaction is in line with Scotiabank’s strategy to increase scale within the Chilean banking sector and the Pacific Alliance countries. It will double Scotiabank’s market share in Chile to approximately 14%, and make Scotiabank the 3rd largest non-state owned bank in the country.  If the transaction is completed, Scotiabank’s Common Equity Tier 1 capital ratio will be impacted by approximately 100 basis points.

Pursuant to the mandatory tender offer for all the shares of BBVA Chile required under Chilean law or the Said family’s tag-along rights under the shareholders agreement of BBVA Chile, the Said family has the right to sell its shares of BBVA Chile on the same basis to Scotiabank.  Scotiabank’s Common Equity Tier 1 capital ratio would be impacted by approximately 135 basis points, if the transaction is completed and the Said family tenders/sells all of its shares to Scotiabank.

About BBVA Chile and Scotiabank Chile (September 2017 and in Canadian dollar equivalent):

Scotiabank Chile

BBVA Chile

Total Assets

$ 26 bn

$ 29 bn

Total Net Loans

$ 20 bn

$ 19 bn

Employees

3,700

4,000

Branches

89

127

About Scotiabank
Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 24 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 88,000 employees and assets of over $906 billion (as at July 31, 2017), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

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Scotiabank Stands with our Customers, Employees and Communities Affected by Hurricane Irma

Scotiabank donates $500,000 USD to organizations supporting the relief efforts in the Caribbean

TORONTO, Sept. 8, 2017 /PRNewswire-HISPANIC PR WIRE/ — Scotiabank is donating $500,000 USD to charitable organizations assisting with the rescue and relief efforts in the many Caribbean countries impacted by Hurricane Irma. Our thoughts continue to be with the people of the affected regions as they demonstrate strength and resilience following the devastation.

Scotiabank

The Canadian Red Cross will receive $250,000 of Scotiabank’s donation, with the remainder being directed to initiatives supporting young people in the affected communities. Red Cross Societies are already active, mobilizing volunteers to the possible affected areas and relaying public awareness messages. Relief supplies are on standby in Panama and the Dominican Republic to ensure an immediate response. The Canadian Red Cross has a presence in the area and is coordinating with the International Federation of the Red Cross and supporting the mobilization of regional Red Cross teams.

“The devastation caused in the countries impacted by Hurricane Irma is heartbreaking,” says Brian Porter, President and Chief Executive Officer. “Scotiabank has been part of the affected communities for decades. We are committed to the region, and will support our customers and employees during these challenging times.”

The damage associated with Hurricane Irma has resulted in a number of fatalities and caused damage to infrastructure, cutting communities off from water and electricity. Our immediate focus is on ensuring the safety of our employees. We are continuing to assess the impact on our business operations.

Customers having banking questions or support can find the appropriate contact information here.

To make a donation to the Hurricane Irma relief fund, please visit the Canadian Red Cross website.

About Scotiabank

Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 24 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 88,000 employees and assets of over $906 billion (as at July 31, 2017), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

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Rick Waugh announces his retirement from Scotiabank effective January 31, 2014; Brian Porter to take on role of President and CEO effective November 1, 2013

TORONTO, May 31, 2013 /PRNewswire/ – Scotiabank Chief Executive Officer Rick Waugh today announced his intention to retire as CEO effective November 1, 2013 after 10 years in the role and 43 years with the Bank.  He will remain a Director of the Board and assume the role of Deputy Chairman of the Bank until January 31, 2014.

(Photo: http://photos.prnewswire.com/prnh/20130531/LT23880 )

The Board of Directors has appointed Brian Porter to the role of President and Chief Executive Officer effective November 1, 2013.  Brian was appointed to the role of President on November 1, 2012, and just prior to that was Group Head, International Banking, overseeing all of the Bank’s personal, small business and commercial banking operations in more than 55 countries outside of Canada. Brian was also Scotiabank’s Group Head of Global Risk Management and Treasury.   He joined Scotiabank in 1981, and has held a variety of other management positions, including Deputy Chairman of Global Banking and Markets.

“Rick Waugh has guided Scotiabank through a period of tremendous growth, generating exceptional returns for shareholders and employees during some very turbulent times. His focus on customers, diversification, emerging markets and risk management along with his strong values, has shaped the growth and direction of the Bank over the last ten years,” said John Mayberry, Chairman of the Board.

The Board expressed its confidence in Brian Porter appointing him President in November 2012.  Mayberry added, “We are pleased to take the next step in succession today by confirming him in the role of President and CEO effective November 1, 2013.   Brian has a tremendous range of experience across the Bank, including the critical role of Chief Risk Officer. The Board is confident in Brian’s ability to continue to produce strong results and build on the straightforward and proven business model that has worked so well for customers, shareholders and employees.”

“I want to congratulate Brian Porter on his appointment to President and Chief Executive Officer,” said Rick Waugh, CEO, Scotiabank.  “He has had an exceptional career at Scotiabank.  Brian and the management team bring the right experience, values and culture to ensure our Bank’s continued success.”

“It is a distinct privilege to have been entrusted with the role of President and Chief Executive Officer, and I would like to thank the Board of Directors and Rick Waugh for their confidence in my ability to continue to deliver superior, consistent and predictable results for all of our stakeholders,” said Brian Porter, President, Scotiabank.

Scotiabank is a leading multinational financial services provider and Canada’s most international bank. With more than 83,000 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. In December 2012, Scotiabank became the first Canadian bank to be named Global Bank of the Year and Bank of the Year in the Americas by The Banker magazine, a Financial Times publication. With assets of $754 billion (as at April 30, 2013), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

For further information:

Diane Flanagan diane.flanagan@scotiabank.com (416) 933-2176
Ann DeRabbie ann.derabbie@scotiabank.com (416) 933-1344

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Scotiabank pledges $1 million to help improve outcomes for children in the Caribbean with cancer and blood disorders

The Bank teams up with SickKids to support telemedicine program

TORONTO, March 14, 2013 /PRNewswire/ – Today, through Scotiabank’s global philanthropic program, Bright Future, the Bank announced a pledge of $1 million to support the Caribbean-SickKids Paediatric Cancer and Blood Disorders Project. These funds will be used to support the project’s telemedicine programs in Barbados, Jamaica, St. Lucia, St. Vincent and the Grenadines, Trinidad and Tobago, and The Bahamas.

The telemedicine element of the project will allow physicians in the Caribbean to connect directly with leading paediatric cancer and blood disorder experts at SickKids. As well, physicians specializing in areas other than cancer and blood diseases can also connect with both Caribbean and international colleagues, enhancing their ability to diagnose and care for Caribbean children. The goal of this project is to expand access to world-leading medical professionals allowing children to get the best care possible in their own country.

“The Caribbean is a big part of Scotiabank’s history and our future. This donation and our partnership with SickKids are directed at giving the next generation a better chance of growing up healthy and making their contribution to the Caribbean,” said Sabi Marwah, Scotiabank Vice Chairman and Chief Operating Officer. “Supporting our communities through the Bright Future program is a big part of Scotiabank’s culture and our way of giving back to the network of 55 countries we call home.”

Through SickKids Foundation, Scotiabank also previously pledged $1 million to the International Patient Program.

“We are grateful for Scotiabank’s generous support of the telemedicine element of the project,” said Ted Garrard, President and CEO, SickKids Foundation. “Too often, children in the Caribbean succumb to cancer because the proper diagnostics and treatments are not available. This gift will help build capacity for these Caribbean countries to more effectively diagnose and treat children.”

In the Caribbean, there is often a combination of factors that negatively impact on the ability to deliver clinical care, including: a lack of medical professionals with specialized training in paediatric cancer care; limited technological resources which often prohibits proper diagnoses; few nurses and pharmacists able to provide specialized front-line health care; and limited data on the effectiveness of treatments and epidemiology of paediatric cancer. Working with local hospital partners in the Caribbean, the Caribbean-SickKids Paediatric Cancer and Blood Disorders Project includes a five-year plan to address the region’s gaps in research, care and education in order to advance the diagnosis and management of paediatric cancer and blood disorders.

Elements of this five-year plan include using telemedicine, physician envoys, and the SickKids International Learner Programme to provide customized, hands-on training to local individuals, establishing and maintaining a patient registry to provide high-quality data and key outcomes, and increasing the knowledge of primary care practitioners and pharmacists in the region to improve cancer care access. Trainees will also travel from the Caribbean to SickKids on a regular basis for hands-on training and experience within the Garron Family Cancer Centre at SickKids.

For more information on the Caribbean-SickKids Paediatric Cancer and Blood Disorders Project, please visit www.sickkidsfoundation.com/caribbean. To watch a video about the Project, please visit: http://www.youtube.com/watch?v=xvntNAnvuSY.

About SickKids Foundation
Established in 1972, SickKids Foundation raises funds on behalf of The Hospital for Sick Children (SickKids) and is the largest charitable funder of child health research, learning and care in Canada. Philanthropy is a critical source of funding for SickKids — one of the world’s foremost paediatric health-care institutions. For the fiscal year ending March 31, 2012, SickKids Foundation made an investment of $61.3 million in children’s health, a direct result of community and corporate support. For more information, please visit www.sickkidsfoundation.com.

About Scotiabank
Scotiabank is committed to supporting the communities in which we live and work, both in Canada and abroad, through our global philanthropic program, Scotiabank Bright Future.  Recognized as a leader internationally and among Canadian corporations for our charitable donations and philanthropic activities, Scotiabank has provided on average approximately $47 million annually to community causes around the world over each of the last five years. Visit us at www.scotiabank.com.

For media enquiries:

Scotiabank
Paula Cufre, Scotiabank Media Communications, 416-866-4833 or
paula.cufre@scotiabank.com

SickKids Foundation
Janessa Bishop, Media Relations; 416-813-2944;
janessa.bishop@sickkidsfoundation.com

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