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Mike Durland Retiring to Pursue Academic and Community Involvement
Deeply experienced bankers to take on new accountabilities in key business lines

Note to editors: There is a video associated with this Press Release.

Mike Durland, Group Head and CEO, Global Banking and Markets at Scotiabank (TSX:BNS)(NYSE:BNS), has announced his decision to retire. After a 23-year career at Scotiabank, Mike has made a personal decision to pursue his lifelong interest in academia, community-building, and a focus on entrepreneurship, innovation and technology.

Scotiabank also announced today that two seasoned and experienced executives will take on new accountabilities. This transition will take place over the next few months. Dieter Jentsch, with more than 30 years of experience in Canada and internationally, and currently Group Head, International Banking, will become Group Head, Global Banking and Markets.

Ignacio 'Nacho' Deschamps, an international banking executive and digital pioneer with 30 years of experience, and currently Strategic Advisor, to the President and CEO, Global Digital Banking, will become Group Head, International Banking and Digital Transformation.

"We have deep executive bench strength consistent with our ongoing efforts focused on leadership depth and diversity. With James O'Sullivan leading our Canadian Banking business, and Dieter Jentsch and Nacho Deschamps leading our Global Banking and Markets and International Banking businesses respectively, we are well positioned as we continue to build a better bank," said Brian Porter, President and CEO, Scotiabank. "On behalf of the team at Scotiabank, I wish Mike all the best as he takes an exciting and different path forward into retirement. He has had a distinguished career and made a tremendous contribution to Scotiabank and our wholesale banking business over the last 20 years."

Dieter Jentsch Select Career Highlights:

Ignacio 'Nacho' Deschamps Select Career Highlights:

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 parts of Asia. We are dedicated to helping our 23 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 approximately 90,000 employees and assets of $856 billion (as at October 31, 2015), Scotiabank trades on the Toronto (TSX:BNS) and New York Exchanges (NYSE:BNS). Scotiabank distributes the Bank's media releases using Marketwired. For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankNews.

To view the video associated with this press release, please visit the following link: https://youtu.be/cnYeORJv99U.

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