NEWS † EXPERIENCE † SUCCESS · Canada that consume less paper and energy. Green banking options...

FEBRUARY/MARCH 2009, VOLUME 3, NUMBER 1

CANADIAN EDITION

ScotiaWorldM A G A Z I N E

NEWS • EXPERIENCE • SUCCESS

THE GLOBAL ECONOMYIN 2009-2010A DISCUSSION WITH

SCOTIABANK CHIEF ECONOMIST WARREN JESTIN

Highlights

2009 Objectives– Our Balanced Scorecard

Financial

• Return on equity of 16-20%

• Diluted earnings per share growth of 7-12%

• Long-term shareholder value through

increases in dividends and stock price

appreciation

People

• High levels of employee satisfaction

and engagement

• Enhance diversity of workforce

• Commitment to corporate social

responsibility and strong community

involvement

Customer

• High levels of customer satisfaction

and loyalty

• Deeper relationships with existing customers

• New customer acquisition

Operational

• Productivity ratio of < 58%

• Sound ratings

• Strong practices in corporate governance

and compliance processes

• Maintain strong capital ratios

ESOP

BNS common stock trading ranges during

the month of February 2009:

$23.99 - 31.55

Average closing price for February 2009:

$28.47

Scotia Capital’s Securities Lending teamranked #1 Scotia Capital’s Securities Lending team has been ranked number one in the world byisf (International Securities Finance) magazine for its service during the recentcredit crisis in the 2008 global Equity Lending Survey. It’s the team’s first-everappearance in the isf rankings.

“It is an honour to be recognized by isf for the hard work put in by all theemployees in securities lending to ensure that we offered the highest level of support toour clients around the globe through the difficult credit market,” said Jim Buckley,Managing Director and Head of Global Equity Finance, Scotia Capital.

In addition to the ranking, Scotia Capital’s Securities Lending team was ranked secondbest borrower in the Americas and third for consistency in the approach to pricing.

Over the past five years, Scotia Capital has invested significant resources to buildingits prime brokerage and equity finance business both in the NAFTA region and globally. w

New bursary award for Aboriginal students Scotiabank and the National Aboriginal Achievement Foundation (NAAF) havelaunched the Scotiabank Business and Commerce Bursary Award. In each of the nextfive years, the Bank will commit $20,000 to assist Aboriginal business and commercestudents with their educational costs. The bursaries vary in amount and are awardedon individual applicants’ needs.

“Scotiabank believes in creating opportunities that will help Aboriginal students achievetheir full potential,” said Rick Waugh, Scotiabank President and CEO. “We are very proud ofour longstanding tradition of community involvement and our support in educationalinitiatives and scholarship programs that help build brighter futures for our communities.”

“The Foundation is excited to welcome Scotiabank as a new partner in our educationprogram,” said NAAF President and CEO Roberta Jamieson.

By way of its Education Program, NAAF has awarded upwards of $27.7 million inscholarships and bursaries to more than 7,000 First Nations, Inuit and Métis studentsacross Canada since 1985.

“Through our partnership with the NAAF, we are able to give Aboriginal students thetools they need to develop their potential and give them confidence in their abilities,”added Michele Baptiste, National Manager, Aboriginal Relations, Scotiabank. w

Sponsorship

Investing in youth Scotiabank has committed US$50,000 over the next five years to support the Youth Empowerment Program (YEP) in theBritish Virgin Islands (BVI). Founded in 2003, YEP is a not-for-profit organization that aims to provide a positive and meaningfulenvironment where young people can participate in sports, academic tutoring, creative arts and other activities outside schoolhours. The programs are facilitated by local volunteers, including Scotiabank employees, who strive to help young peopleexplore and pursue productive interests while fostering meaningful relationships and creating a sense of social responsibility.

Under the umbrella of the Scotiabank Bright Futures Program, Scotiabank BVI selected YEP as the focus for their communitygiving and philanthropy for the next five years. w

ScotiaNews

what’sinside

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In DiscussionSabi Marwah

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CSRScotiabank’s Paper Policy

NewsScotiabank a best employer

FeatureWarren Jestin on the global economy

In DiscussionSabi Marwah

ProfileA look at the Chile integration

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Performance ManagementCreating your development plan

Total RewardsNew way to save with the tax-free savings account

Pensions & benefitsYour pensions are secure

HR PassportAbsence e-trac revamped!

Scotia Living WellTips for healthy eating

Lead storyScotiabank’s mascot has a name

HealthScotiabank Jamaica promotesAIDS awareness

Around the group Teaming up for the visionimpaired

CommunityCommitted to children’s education

HealthFighting cancer in Hamilton andNiagara

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ScotiaExperience ScotiaCares

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Contributing Writers: Lori Bianco, Jennifer Corbett

Co-ordination:Jennifer Corbett

Creative Director:Nancy Howard

Design: Kelly McCraw, Vincenza Thorburn, Luis Tudon

Production: Kelly McCraw, Vincenza Thorburn, Luis Tudon

The Canadian edition of Scotia World Magazine is publishedfive times a year in English and French by Corporate Affairs, andis distributed to all Scotiabank Group employees in Canada.

Scotia World Magazine is available on HR Passport under My Communities, on Scotia News Network, which is availablethrough IntraLink, and on the Scotia Navigator home pageunder the Employee Information link.

All submissions and suggestions are welcomed. If you aresending a digital photo, please make sure it is high resolution(300 dpi at 5” x 7”).

You can contact us by e-mailing [email protected] or by mailing directly to: Scotia World Magazine, Scotia Plaza, 40 King Street West, Toronto, Ontario M5H 1H1 Transit #37622

For address or distribution changes, please call 416-866-3925or fax 416-933-7385.

Managing Editor:Nadine JahangirTelephone: 416-866-4833

Editorial Board:Toni Spooner, Gail Lambie, Chris McAuliffe,

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Going green is what organizations aredoing to reduce their environmental

footprint. In 2009, Scotiabank isn’t just goinggreen, it’s going greener. After creating itsEnvironmental Paper Policy as part of itscommitment to being a leader in corporatesocial responsibility (CSR), Scotiabank isrolling out programs, paper-savingtechnologies and an employee website to helpachieve the Policy’s paper reduction targets.

Drafted by Scotiabank’s Paper WorkingGroup and reviewed by external experts, thePolicy will reduce paper usage and promotesustainable forestry by integrating

environmental considerations into Bankoperations. Some targets include:

• lowering Canadian Banking copy paperconsumption by five per cent by the endof fiscal 2010;

• creating recycling programs and trackingpaper consumption in three additionalcountries by 2010;

• ensuring all purchased paper comes fromlegal and sustainable resources withcertified or recycled content;

• moving all bond copy paper to ForestStewardship Council (FSC) stock; and,

• encouraging employees and customers torecycle and join waste reductionprograms. To reach these goals, the Bank is

incorporating paper-saving initiatives,including installing all-in-one print/copy/faxmachines in branches and offices acrossCanada that consume less paper and energy.

Green banking options such as epost,Canada Post’s electronic bill presentationservice, and Scotia OnLine® FinancialServices – which recently signed up its onemillionth paperless banking customer – havealso been successfully promoted.

Setting international targetsScotiabank is pursuing paper-savinginitiatives around the globe, where employeeand customer interest often outpaces locallyavailable environmental programs.

In Costa Rica, the Bank completed itssecond year of country-wide recycling.Scotiabank Peru is piloting a recycling programin its corporate offices, and Scotiabank SudAmericano in Chile has also set a five per centpaper reduction target.

ScotiaWorld February/March 20092

CSR

Each Scotiabanker in Canada uses 12,081 sheets of paper

per year! If we reduced our paper use by 10 per cent, we’d

save enough paper to cover 115,442 football fields.

To help out, you can:

• Use two-sided copying and printing

• Use PC projectors for presentations toeliminate handouts

• Review or modify documents withoutprinting them

• Use colour printing only for externalpurposes

• Circulate only one copy of a memo orreading materials

Did you

know?

Scotiabank Paper Policy sets international New technology, programs and employee participation to save paper

February/March 2009 ScotiaWorld 3

Scotiabank a BestEmployer in CanadaPrestigious recognition awarded for fivestraight years

2009 marks the fifth consecutive year that Scotiabank has beennamed one of the 50 Best Employers in Canada by The Globe and

Mail Report on Business Magazine. This year, Scotiabank placed20th on the list and was the highest placed bank.

“Our five-year presence on the list is a testament to thestrength of our employment experience and the perception ofScotiabank as a great place to work,” says Scotiabank President andCEO Rick Waugh. “While I believe we have effective employeepolicies and practices in place, it is our people – working togetheras One Team with One Goal – that makes Scotiabank such a greatplace to work, and a place where our customers and clients want todo business.”

The annual 50 Best Employers list isone of the most prestigious employerrecognition awards in Canada. Eachyear, Hewitt Associates, a global humanresources firm, administers surveys tomore than 100,000 employees androughly 2,000 human resourcesprofessionals.

Scotiabank has been recognized consistently – not only inCanada, but in a number of countries throughout Latin America andthe Caribbean – on the strength of its reputation and highlyengaged employees who work together toward common goals.Hewitt Associates states that engaged employees feel a strongcommitment to the organization and are more likely to do all theycan to help it achieve success. Overall, best employer companiesalso enjoy lower employee turnover and receive more applicationsfor job openings.

Fitting recognition“Receiving the honour five years in a row says a lot aboutScotiabank,” says Sylvia Chrominska, Group Head, Global HumanResources and Communications. “It is a fitting recognition of ourposition as a global employer of choice, reaffirms our ability toattract and retain high-performing employees and champions ourongoing success in creating an environment where people want towork and thrive in their careers.”

At the time the list was published in December, Scotiabank wasfeatured in a Globe and Mail article that recognized the Bank’sfive-year run, crediting its size and diversity, as well as the feedbackmechanisms the Bank has in place to keep leaders and front-lineemployees connected to one another. w

News

Employees play a key roleIn addition to Bank-wide programs, employeeinvolvement is critical to decreasing paperusage. By making small changes to dailyoperations, such as reviewing documentswithout printing them or double-sidedcopying, employees can do their part toreduce the amount of paper they use.

Kim Brand, Senior Manager, CSR, notesthat the CSR team has partnered with WorldWildlife Fund Canada (WWF-Canada) to raiseemployee awareness and technical expertisearound paper issues. An intranet site is alsoin the works to provide paper-saving tips andinformation.

“We are pleased to work with Scotiabankto help reduce, procure and use paper in asustainable manner. The Bank has been aWWF-Canada supporter since 1988, fundinginitiatives such as our Endangered SpeciesRecovery Fund and Forest StewardshipCouncil certification in Canada’s commercialforest,” says Gerald Butts, WWF-Canada CEO.

“Employees have the power and capacityto create real change,” concludes Brand.“Keeping the environment in mind in our day-to-day routines at work can help minimizeour impact.” w

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reduction targets

Feature

WARREN JESTIN ON THE GLOBAL ECONOMY AND WHAT

TO EXPECT IN 2009-2010Scotia World Magazine sat down with Scotiabank Chief Economist, Warren Jestin, to talk about the

state of our global economy and what clients and employees can expect over the next two years.

Nowhere to run and nowhere tohide might be the best way to

describe the global economythese days.

Every nation, sector and assetclass has been impacted. WhileCanada and the emerging economiesare faring better than others, growingunemployment, weaker profits, budgetdeficits and interest rate cuts willcontinue to dominate the headlines formost of 2009.

“What began as a housing andfinancial markets correction in theU.S. quickly spread,” says Jestin. “A

year ago we thought this could becontained as an American problem.By spring, Europe and Japan wereaffected and by summer, Asia andmost emerging economies hadslowed down.”

Canada was dragged in as theNorth American automobile sectorbegan to suffer, along with a dramaticdrop in demand for commodities,particularly from China and India.

Jestin and his team anticipate thatglobal growth will likely post itsweakest performance in more than ahalf century.

Caution and patienceGovernments around the world aretaking swift action to revive consumer,business and investor confidence.

The new U.S. administration haspromised action on a dramatic scale tostimulate the flow of credit, stabilizelending institutions, create jobsthrough infrastructure projects andpreserve jobs in the auto industry.

The Bank of England andEuropean Central Bank have cutinterest rates to historic lows. TheBank of Japan has moved backtowards a zero interest rate policy.


The structure of the world economy haschanged irrevocably. Don’t expect business asusual in the next decade.“

“

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Jestin advises caution and patience.He expects continued volatility in theequity markets and exchange rates forthe duration of 2009 and into 2010.

“The magnitude of the problem isunprecedented and it will take time toturn around,” he says.

No more ‘business as usual’According to Jestin, the correction waslong overdue and will lead to a morebalanced world economy.

Over the next decade, we canexpect less reliance on traditionaleconomies such as the U.S., Japan andEurope, with growth increasinglydriven by countries such as China,India and Brazil. These are regionswhere Scotiabank is strategicallypositioned for future growth.

Jestin says the proliferation of infra-structure projects will be good for long-term global productivity. At the sametime, market excesses have beencleaned out of the financial system.

The “borrow-to-buy” driver ofconsumer spending has been replacedby an “earn-and-save-before-you-buy”dynamic. This means a slower recovery,but one based on prudence and soundfiscal management.

“The structure of the worldeconomy has changed irrevocably,”says Jestin. “Don’t expect business asusual in the next decade.”

Emerging optimismChina and India are fortunate to havestrong domestic demand, which willlead them to outperform traditionaldeveloped nations by a wide margin.China, for example, is expected togrow by just under six per cent in 2009at a time when the G7 nations will allface declines.

According to Pablo Bréard, Head ofthe International Research Group, theLatin American and Caribbeaneconomies will not be immune to theeffects of a weakened U.S. economy asexports decline in 2009. However, due tothe major reforms in Mexico, Brazil,Chile and Peru over the past decade,these countries will manage the shocksrelatively well. There is no evidence ofcrisis in their banking sectors andprudent government policies and sizablecurrency reserves will provide the flex-ibility for these countries to stimulatetheir economies as needed.

“Most importantly, a stable politicalenvironment, combined with sound fiscalmanagement are key factors as theseeco no mies deal with the challenges ofthe downturn,” says Bréard.

Canadian resiliencyIn Canada, the economy is expected toshrink by 1.6 per cent this year, withOntario declining by more than two percent. Western and Atlantic Canada willbenefit as global demand for resourcesincreases in late 2009 and 2010.

“All provinces except Saskatchewanare expected to record a decline in2009, before posting modest recoveriesin 2010. Still, the downturn in Canadawill be significantly less than south ofthe border,” says Jestin.

Strong fundamentals explainCanada’s relative resiliency. Governmentsurpluses and balanced budgeting havecushioned the economy. Canadianfinancial institutions are considered tobe the strongest in the world. At thehousehold level, Canadians have amuch greater amount of equityinvested in their homes than their U.S.counterparts.

A buyer’s marketFor those with sufficient disposableincome, there are bargains to be had.

“Housing and vehicle prices havebeen declining, and equity prices,particularly for strong dividend-producing companies, are at levels wehave not seen in a very long time,”says Jestin.

Low gasoline prices are a boon tomany, although Jestin warns the priceswill not stay low once the globaleconomy gets on a path to recovery.“Enjoy it while you can,” he says.

Jestin adds, “Discounts feel goodfrom a consumer point of view, but Ithink we will all be grateful to see ourbusinesses return to stronger prof-itability as soon as possible.” w


Canadian financial institutions are considered tobe the strongest in the world.“

“

Scotiabank achieved some successes and also experiencedchallenges last year. How will the economic climate affect ouroperations in 2009?We expect that the current market uncertainty will continue wellinto this year. Achieving success in these tough conditions is going totake an increased effort from everyone – but it starts with having aclear goal and the right strategy and priorities in place to achieve it.

Our goal is to be the best Canadian-based international financialservices company. It’s the driving force behind everything we do.Even though it’s a challenging goal, I believe it’s one we have attained.

Our strategy continues to be rooted in our diversification bybusiness line, geography and product. This means that we are welldiversified from an earnings and risk standpoint, which gives us asolid foundation for long-term sustainable growth. And, this strategyhas been supported for the past few years by our focus on our keypriorities: revenue growth, capital management and leadership.

In 2009, these priorities remain, but we’ve added two additionalpriorities in response to the current environment – risk managementand expense control. These have always been strengths of our Bankand are now even more critical.

Why is expense control so essential now?In these economic times, revenues become less predictable – so, bynecessity, we must be even more careful in how we spend. While forthe past few years we have been spending on our growth initiatives,now we have to pay much more attention to keeping our expensesunder control.


Sarabjit (Sabi) Marwah is Vice-Chairman and Chief Operating Officer,

responsible for many of the Scotiabank’s administrative functions. These

include Audit, Finance, Corporate Insurance, General Counsel, Global

Transaction Banking, Global Wholesale Services, Information Technology

& Services, Investments, Real Estate, Scotia Economics, Securities

Operations and Shared Services. Marwah joined the Bank in 1979 as a

Financial Analyst and has since held progressively more senior positions

within the Finance department, including being appointed Chief

Financial Officer in 1998. Scotia World Magazine recently spoke with

Sabi about how Scotiabank will achieve its key priorities in 2009.

In discussionwith

Sabi

Sabi Marwah

Vice-Chairman and Chief Operating Officer

Marwah

It will be a tough year, but we’re

compared to our global peers, largely

conservative risk management

on our priorities

“

Every business line, support function and geographicallocation must look for ways to improve productivity. It meanswe need to fund things we want to start doing with savingsfrom the things we stop doing.

In this time of economic slowdown, all of us are beingasked to double our efforts on reducing costs and loweringrisks. That means being innovative and doing more with less.

How will we continue to grow our revenue this year?Clearly, there’s more uncertainty around being able to grow our revenues. After all, we don’t control our revenues– our customers do – and they will be under increasingstrain this year.

There will, however, be great opportunities in thisenvironment, especially for strong banks such as ours.Whether it’s for organic growth or acquisitions, we are goingto be more selective in the opportunities we pursue. Whilewe are keeping our eye on growth initiatives, we will bemaking sure that our expense growth does not exceed ourgrowth in revenues.

What challenges will the Bank face in managing its capital?Given the economic backdrop, managing our capital is moreof a challenge than ever before. We have a solid capital base –one of the best by world standards – both in terms of amountand the quality of our capital. This provides us with atremendous cushion to handle unforeseen events given theeconomic turbulence. It also gives us flexibility in making

investments that support our growth initiatives. However,the cost of capital for all financial institutions, includingours, has risen substantially, so that raises the bar on howwe use our capital.

Where will our risk management priorities remain in this volatile market?We anticipate broadening our risk management focus thisyear. For the past 18 months, our focus has been on marketrisk – asset-backed commercial paper, capital markets,structured products and so on – but in 2009, there will begreater emphasis on our normal credit and operational risks.

We need to stay on top of our current exposures andescalate issues quickly when needed. Knowing yourcustomers and staying close to them is critical in this market.

What can employees expect as we continue through 2009?It will be a tough year, but we’re prepared for it. We are in astrong position compared to our global peers, largely becausewe’ve always paid such close attention to conservative riskmanagement practices, expense control, staying focused onour priorities and our values as an organization.

We have a solid balance sheet, three strong businesslines, the right strategy and a great team of people andleaders across the Bank, which is strengthened by oursignificant international presence. Taken together, thatcombination gives us great confidence in our ability to growand succeed in any environment – and we will. w

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prepared for it. We are in a strong position

because we’ve always paid such close attention to

practices, expense control, staying focusedand our values as an organization.

“Achieving success in these tough conditions is going to take an

increased effort from everyone – but it starts with having a clear goaland the right strategy and priorities in place to achieve it.

“ “


Innovation

Swipe and sign – a familiar procedure for millions of creditcard users all over the world – is about to become a relic ofthe past. New chip technology, rolling out across Scotiabank’sCanadian Banking operations, is poised to take overas the next evolution in electronic payments.

Financial institutions around the world arein the stages of converting from magneticstripe to microchip. In Canada, this is anindustry-wide change in which all globalpayment systems are participating.

According to Vivek Chandra, Vice-President, Chip Integration Office, creditor debit cards containing an embeddedcomputer chip can securely store andprocess data, and increase protection againstlost, stolen or counterfeit fraud.

The changeover will happen gradually, allowingmerchants to acquire new terminals that will accept bothmagnetic stripe cards and chip cards, and customers toreceive new cards containing both a chip and magnetic stripe.

Leading the innovationScotiabank has been at the forefront of this change, originallypiloting a Visa chip card program in Barrie, Ontario, in 2003,followed by a financial industry chip card market trial inOctober 2007 in Kitchener-Waterloo, Ontario. This trialconsisted of approximately 29,000 Visa chip cards and 30,000ScotiaCard chip cards issued in the Kitchener-Waterloo area.

According to Chandra, contributions of the Barrie andKitchener-Waterloo branch employees have strengthened thenational roll-out campaign, which began in January.

“Our customers and employees responded to the chiptechnology with exceptional ease,” says Rob Jones, DistrictVice-President, Ontario Central West District. “The addedsecurity and convenience of chip technology gives us onemore way to deepen client relationships.”

Outside Canada, Scotiabank has begun to introduce chiptechnology for credit cards and debit cards in Mexico and isconducting pilots of Visa and MasterCards in Peru. Otherregions are currently being evaluated for their marketreadiness of chip technology.

One Team, One Goal gets it doneAs with any large-scale initiative, the evolution to chiptechnology required collaboration between groups across theBank. Within approximately three years, enhancements andalignment with industry infrastructure were made to allinternal payment systems.

Information Technology & Solutions (IT&S), includingBanking Operations, Electronic Banking and GlobalTransactional Banking drove the preparatory work for themarket trial with large support from Information Securityand Control, Personal Lending and Insurance Canada, Day-to-Day Banking, Sales & Service, Retail Marketing, and Public& Corporate Affairs. They played roles in ensuring that themarket trial was a success.

Chandra credits the work of the ABM Upgrade toWindows XP and the Branch Technology Refresh teams forthe coordination of timelines of their projects.

“The hard work, meticulous planning and execution by alltruly demonstrates our One Team, One Goal spirit,” addsChandra. “We pulled together with the common goal of makingan already secure payment system even more secure.” w

From magnetic stripe to chip:making the world a safer place, one card at a time

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Finding meaningful work is one of themost important aspects of relocating toa new country. Many immigrants lackthe social and professional networksand connections that help make jobopportunities happen.

Scotiabank’s Global EmploymentStrategies team has formed aninnovative partnership with the TorontoRegion Immigrant Employ ment Council (TRIEC) to provide amentoring partnership program forimmigrants who have been in Canadafor three years or less, with a certainlevel of English proficiency andrelevant career experience.

Scotiabankers help menteesimprove their chances of being hiredin the Canadian workforce. This canmean building resumés, doing mockinterviews, and providing researchand advice.

The program was piloted to vice-presidents in the Greater TorontoArea on a volunteer basis. After fourmonths, 12 of the 25 mentees foundfull-time jobs, including three whowere hired by Scotiabank. As one ofthe top employers in Canada,Scotiabank is well-positioned toconnect great people with greatcompanies, according to CoryGarlough, Vice-President, GlobalEmployment Strategies.

The four-month program will runtwice a year and will be slowly rolledout to Scotiabank employees levelsseven to nine and at the senior vice-president level.

Rania Llewellyn, Vice-President,Multicultural Banking, says the programhas been especially beneficial toScotiabank clients who have recentlymoved to Canada.

“If we can help a client find a job,we truly enrich their experience inCanada and their experience with us,”says Llewellyn. “This helps Scotiabankbuild long-term relationships and be aleader in our ethnic communities.”

Multicultural Banking is a key areawhere Scotiabank can drive sustainable

revenue growth, due to Canada’s rapidlygrowing immigrant population.

“This TRIEC program allows us topursue our community and leadershipdevelopment goals,” adds Garlough,“It’s a great fit for Scotiabank and welook forward to expanding it further.”

If you would like to becomeinvolved in the TRIEC program,contact Tammy Freeman, HumanResources Associate, GlobalEmployment Strategies, [email protected]. w

Mentoring program connects Scotiabankleaders and new Canadians

Leadership

This TRIEC program allows us to

pursue our community and

leadership development goals.“ “


Elmira Hill, Vice-President and Co-Head, Human ResourcesSystem Solutions (right), helped mentor JenniferColemares, Business Analyst, Information Technology andSolutions, through the Bank’s new partnership with TRIEC.

Profile

When you read about Scotiabankacquisitions – such as the 2007purchase of Chile’s Banco delDesarrollo (BDD) – you might thinkthe hard work ends once the deal issigned. The reality is that the “heavylifting” really begins after the purchaseis announced.

Scotiabank has developedconsiderable integration expertise fromrecent transactions, creating acompetitive strength for the Bankaround the globe. These activities arecoordinated by the Mergers &Acquisitions Integration team, led byOlga Lima, Vice-President.

“We’ve developed a rigorousmethodology to help us integrate eachnew purchase,” notes Lima, whosegroup has helped unite operations in El Salvador, Jamaica, Peru and Costa Rica. “While each integration is different, we follow consistent

processes to ensure customer andemployee issues are managed assmoothly as possible.”

After closing a deal, the Bankquickly establishes a governancestructure and a strategy for theIntegration Team to implement. A multi-disciplinary and multinational groupbegins the task of partnering with localexecutives to oversee and execute allrequired integration activities.

“We also honour key learningsgained from previous transactions,such as leveraging the strengths ofboth institutions, keeping it simple andcommunicating frequently,” says Lima.

In Chile, a team with representationfrom every department was assembledin January, 2008. “The vast majority of the work is delivered by local emplo -yees who face the dual challenge ofperfor ming integration tasks and alsomaintaining smooth day-to-day

operations,” remarks Claude Norfolk,Senior Vice-President, Integration, Chile.

Smooth integration key to Bank successIt’s also important to stay focused on theend goal. By joining Scotiabank SudAmericano (SSA) and BDD, the Bankcan gain scale in one of the most stable,developed markets in Latin America.SSA offers established corporate,commercial, retail, mutual fund andinsurance business lines, while BDDspecializes in small business, consumerfinance and micro-lending. Togetherthey form the seventh largest bank inChile, with 6.5 per cent loans marketshare, 137 branches and approximately4,000 employees.

“By carefully combining these twobanks – preserving the essence ofBDD’s unique brand and introducingScotiabank’s operating model and corestandards – we are building a

What happens after the ink dries?A closer look at the Chile integration

(From left) Carlos Chandía, Marcela Miranda, a Scotiabank customer, Ximena Fajardo,Roberto Troncoso and Ximena González at Scotiabank Main Branch in Santiago, Chile.


sustainable, long-term growthplatform in Chile,” observes JamesCallahan, Country Manager and CEO,Scotiabank Sud Americano.

No shortage of challenges“Integration always includeschallenges, and this is definitely oneof the most complex projects thatScotiabank has taken on in recentyears,” observes Norfolk. Forexample, the two banks’ branches arescattered across 4,000 kilometres,from Peru to Patagonia, which posesunique communications and logisticalchallenges, and the Chilean bankingmarket is extremely competitive.Also, the complementary nature ofthe two banks added complexity toimplementing an integrated productsuite on one common platform. Forthese reasons, Chile will beScotiabank’s longest integration todate, with expected systemconversion by the end of 2009.

Callahan emphasizes thatemployee integration is always acrucial step. “Bringing togetherpeople is definitely the key tosuccess, and we’ve made goodprogress towards introducing our One Team, One Goal philosophy.”


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“It’s a long road that requires patience and persistence, but we’ve madeincredible progress so far,” concludes Callahan. “By working together to execute theplan, we can meet our business objectives, deliver excellent service and create abank that we can all be very proud to work for.” w

A Chilean progress report

In 2008, the focus was on understanding the new businesses acquired anddesigning and executing the integration plan. Examples of progress madeinclude:

Customers: business as usual during planning stages, andcommunications to optimize customer retention.

Employees: new organizational structure and teams created and trainingprograms launched.

Technology: executing a multi-phase technology strategy to upgrade andintegrate systems to support all product suites on a new platform.

Brand: finalizing a two-brand strategy aligned with customer segmentsranging from corporate to consumer finance.

Products: harmonizing products, services and delivery channels by brand.

Structures: streamlined a number of subsidiaries and implementedScotia’s risk management policies and practices.

Community: launched Scotiabank’s Bright Future Program to supportchildren’s charities.

(Photo above) Cristián Avaria (left) andMauricio Tobar stand inside Banco del

Desarrollo’s Main Branch in Santiago, Chile.(Photo right) A Scotiabank branch in Viña del

Mar in the Fifth Region of Chile.

ScotiaWorld February/March 2009 12

ScotiaExperienceThe source for employment news

GO ONLINE TO HR PASSPORT

1. What do I want to achieve?Chart your goals for the current fiscal year, and forthe next three to five years. Think about what youwant to accomplish in your current role and whatyou envision your next position to be.

2. What are my strengths? A great way to review your strengths is by reviewingyour job description for the list of competencies andlevels of proficiency you require. You will find a complete list of general and leadership competencieson HR Passport’s Career & Learning Kit. Click oneach competency to see a description of the variouslevels of proficiency.

3. How can I achieve my development goals?Be creative when it comes to generating options andlook beyond simply taking courses for developmentopportunities. The “wheel of options” shown canhelp you think of ways to develop new skills. For example:

• Get involved in the Scotiabankers’ Association in your area to network and broaden yourunderstanding of different business lines.

• Ask to be a representative for a Scotiabankcommittee e.g., The United Way or OccupationalHealth & Safety.

• Volunteer to be an in-branch coach or a jobshadow partner for others.

• Develop the skills to be an emergency/vacation“back-up” to a colleague.

• Broaden your competencies to include thoselisted for a job you would like to move to, or worktowards achieving a higher level of skill within acompetency you currently have.

• Establish a coaching or mentoring relationship to gain new perspectives, knowledge and skills.

• Get involved with your professional association to network, take on a leadership position or gainknowledge of new developments in your field.

• Join your local Toastmasters International club todevelop your presentation, communication andleaderships skills while increasing your networkof business contacts. Find a location near you bygoing to www.toastmasters.org.

To establish an effective development plan, ask yourself these five questions:

There’s more to development planning than taking courses to upgrade your skills – it’s about gaining valuable experience that can help you grow in your current role

and build the necessary skills and experiences for future opportunities.

Plan your development toNow that you’ve set your objectives for 2009, it’s time to

create your development plan for the coming year.

Wheel

Options

M

entoring Projects Cross Training Job Shadowing Networking Training R

eading T

rans

fers

Co

achi

ng

ofWheel

Options


ScotiaExperiencePerformanceManagement

your career!

For more information or help in developing your plan, visit the new Development PlanningToolkit on the Performance Management website, accessible through HR Passport. Or, complete the e-learning module on My Learning Centre or International LearningCentre. The module takes 15 minutes to complete and provides you with an Employee’s Quick Reference Guide toDevelopment Planning to help you navigate the five-step process. w

Once you have thought of some developmentopportunities, discuss them with your manager/supervisor and gain agreement on what wouldbe most effective for your development. Thenprioritize these in order of importance.

4. How will I make it happen?Make your goals time-framed, specific andmeasurable. Your development plan is only asgood as the actions you take to achieve yourgoals. Take ownership of your development and implement the actions for success.

5. How will I evaluate my success?Periodically review your plan and your progress with your manager. Also, ask yourself if the long-term goals you had stated at the outset continue to reflect what you want.Evaluate your goals and the steps you took to meet them.

Maria Reece (left) and Manuel Pino are both International Associate Trainees in Scotiabank’s International Banking division.

How do TFSAs work? Starting January 1, 2009, Canadians 18 and older can contribute up to$5,000 a year to an account in which income – interest, dividends, orcapital gains – can grow tax-free. Any unused contribution room in ayear can be carried forward to your contribution limit for the followingyear, and any withdrawals you make will also create additional contributionroom in the year following the withdrawal.

Your TFSA savings can be withdrawn from your account at any time(subject to specific product restrictions like GIC maturity dates), for anyreason, and all withdrawals are tax-free. Withdrawals are not added totaxable income and do not impact your eligibility for federal income-testedbenefits, such as the Canada Child Tax Benefit, the Guaranteed IncomeSupplement or Old Age Security.

Your personal savings can be an important source of income in retirement, together with government benefits and your ScotiabankGroup pension plan.

TFSAs differ from Registered Retirement Savings Plans (RRSP) inthat contributions to TFSAs cannot be deducted from taxable income so there is no upfront tax break. The break comes later when you cash them in – tax-free.

TFSAs offer flexibility as you structure your savingsstrategy. In some cases, a TFSA may be better than an RRSP because you canwithdraw the money tax-free in anemergency. In other cases, they may complement your RRSP savings as another way of sheltering income.

Before opening a TFSAaccount, consider the servicesof a financial advisor to help you assess your options andinvest and manage your savings. Financial advisors can be found through your localScotiabank branch, as well asthrough various other channels.

Currently, the Bank does notoffer a group TFSA account or a TFSA account within ESOP. For more information on TFSAs, visit www.scotiabank.com. w


TotalRewards

Did you

know?

Tax-Free Savings Accounts –

a new way savetoThe federal government’s recently introduced Tax-Free SavingsAccount (TFSA) is a new way for Canadians to save on a

tax sheltered basis – whether you’re saving for retirement,

a trip, buying a house or car, or starting a business.

For general information on the ESOP,go to HR Passport > Knowledge Base >and type ESOP in the Search field. w

It’s important to know that you do not have to sell the Scotiabankshares you hold in the EmployeeShare Ownership Plan (ESOP) shouldyou terminate employment, retire orwant to transfer your assets out ofthe ESOP. Instead, you can transfershare certificates out of the plan. If you are transferring your shares to a financial institution, you shouldconfirm that they accept share certificates.

Withdrawals from the ESOP –whether you take share certificates or the proceeds from the sales ofyour shares – include options totransfer savings to various productssuch as personal RegisteredRetirement Savings Plans and Tax-Free Savings Accounts.

Before making a decision aboutyour ESOP assets, it is important tounderstand the tax implications ofany withdrawals from your ESOP. You may want to consider seekingthe services of a financial advisor as you consider your options.

ScotiaExperience


Scotiabank Group’s

pension plansweather market

As of October 31, 2008, nearly 90 per cent ofCanadian employees had a Workforce Census profile. Now, Scotiabank is aiming to achieve a 100 per cent participation rate by remindingemployees who have not already completed theWorkforce Census to do so online. The Census isaccessible throughout the year, enabling employees to update their information at any time.

All Scotiabank employees in Canada are requiredto participate in the Census. Although answering allof the questions is voluntary and anonymous, eachemployee is still required to confirm that he or shehas reviewed the Census and elected not to respondto the questions that identify themselves as a memberof a particular group. Information collected from theCensus is completely confidential.

Scotiabank’s annual Workforce Census is used todevelop strategies that help the Scotiabank Groupmaintain an inclusive and accessible workplace for all employees. The Census results are also collected to ensure the Bank remains compliant with therequirements of the Employment Equity Act in Canada.

How to access Workforce Census Using your seven-digit employee identification number and password, log on to HR Passport(http://hrpassport.bns) or the Scotia World website(https://www.scotiaworld.com), locate the EmployeeKit section and click on the Workforce Census link.Employees can also call the HR Call Centre at 1-888-888-8089 for assistance. w

WorkforceCensus

storm

Scotiabankers– count yourselves in!

In times like these, the security of your

Scotiabank pension is even more valuable.

While the assets of the Scotiabank Group’s pension plans,including the Scotiabank Pension Plan and the Pension Plan for Employees of Scotia Capital Inc., are not immuneto current market conditions, your pensions are secure.

The Scotiabank Group’s pension plans are defined by a formula that takes into account your salary, your yearsof service, when you retire and whether or not you havemade contributions to the plan. They are unlike otherretirement savings vehicles, such as defined contributionpension plans or Registered Retirement Savings Plans.Changes in the financial markets do not affect theamount of your pension; the Bank takes on the impact ofthe market volatility. The Bank assumes the responsibilityfor ensuring that the plans have sufficient assets to paybenefits that are promised to plan members by makingcontributions to the plan as and when required.

The assets for these plans are held in trust by an independent custodian and are kept entirely separate and apart from the Bank’s assets, in accordance with pension legislation.

The assets of the plans are invested based on a diversified strategy, and the team managing them is well experienced to handle market swings. While thepension funds have experienced a decrease in assets due to the current market decline, the plans are prepared for the long-term.

A few years ago, there was another period of significantvolatility in the market and the plans maintained theirstrong, long-term performance. Now, as then, the Bank’spension plans are equipped to weather the storm. w

HRPassport


Scotiabank is re-engineering payroll processes and replacing its 25-year-old Payroll system in Canada by leveraging new technology.The new system will increase efficiency and support the Bank’scommitment to corporate social responsibility.

“The update was a big endeavour that brought the efforts of manydepartments together,” says Marjory Buttrum, Vice-President, HumanResources Systems Solutions. “It’s clear that a project of this size, complexity and criticality underscores the importance of One Team,One Goal.”

The first enhancement is an upgrade to the Bank’s Absence e-trac systemthat allows employees to record their hours online through a new Payrolltab. The new tab will be used to collect, approve and submit payroll information for processing online. The move toward online processing willalso help reduce the use of paper timesheets. With over 30,000 employeeshaving access to the new Payroll tab, the application is an important development in the payroll process.

Kathy Hall, Vice-President, Shared Services Human Resources, explains, “The enhancement of a new Payroll tab on Absence e-trac is such a good change and it will help make it simpler and easier for employees to record hours worked.”

Here are some highlights and benefits for employees using the new Payroll tab:• Manual timesheets will no longer be used. Part-time and casual employees

will enter all of their regular or non-regular hours online. Full-time employees will only enter their non-regular hours such as overtime, on call or pager hours.

• Employees now have direct access to their payroll input records.

Employees can view previous pay period records and can enter hours up to two pay periods in advance.

• Approvals by either the Absence e-trac manager or administrator

are completed online.

• Many manual processes for administrators have been eliminated.

For example, manual debits, comparing timesheets to Work Schedule Profile,calculating Statutory and General Holiday pay or completing Payroll Input Lists.

For additional information about Absence e-trac, go to HR Passport > HR Source > HRHandbooks > Absence e-trac. Employees in IT&S, International Banking Systems and TAG, go to IT&S Portal > Forms & Tools. w

e-trac Payroll is here!The Bank’s Payroll system is being replaced

Spirit is my favourite core value. I work in a small town branchwhere we have lots of enthusiasm and I help make that a top priority. It’s so important to have fun while also getting work done, and that’s what we do at our branch. We work closely as a teamand are always participating in team-building activities. Customerseven look forward to these events and share in the spirit. w

Lynne RochonAccount Manager, Small BusinessRussell, Ontario

spiritmy favourite core value

hr at a

glanceMid Februaryflexbenefits 2009 Read Me Firstbrochure available on HR Passport

Late FebruaryFlex Credit Calculation Statement available online in your Employee Kit on HR Passport

February 23-27flexbenefits modeling tool available

February 28 to March 13 flexbenefits enrolment period

April 1Start of flexbenefits plan year

April 10Statutory holiday: Good Friday

End of April Development discussions and plansshould be complete

April 30Members of the Scotiabank PensionPlan and members of the ScotiabankPension Plan for former employees ofNational Trust Company will receivetheir 2008 Annual Statements

April 30Last day for Great-West Life to receiveEvidence of Insurability (EOI) forincreased Long Term Disability (LTD)and/or Life Insurance selections, if applicable. w

ScotiaLivingWellScotiaExperience


My favourite core value is integrity. As aProofreader, I always have to make sure that thechanges I request are indeed made. The clientand I have to be honest in our dealings witheach other if we hope to achieve documents thatmatch and comply with the Bank’s standards. w

Gilles BernierProofreader, Shared Services Montreal, Quebec

integritymy favourite core value

Food to fuelyour system

The human body is a miraculous thing. Through millions of tinyprocesses we are able to move through our day, thinking, reacting andexperiencing the world through our senses. All of these moving partsrequire fuel to operate. The quality of that fuel depends on the foodwe choose to eat every day.

HR Call Centre:

Toll Free: 1 (888) 888-8

089

Greater Toronto Area: (416) 7

01-7209

TTY/TDD: 1 (877) 726-8429

Fax: 1 (888) 837-0455

E-mail: [email protected]

om

HR Passport:

http://hrpassport.bns

Team Voice:

English: 1 (877) 707-140

0; (416) 933-1725

French: 1 (877) 837-25

40; (514) 499-5860

Staff Ombuds Offic

e:

1 (800) 565-7810

Need further

assistance?

The link between what we eat and how our bodies respond could not be moreevident. According to a 2008 study by the World Health Organization, morethan half the world’s diseases are related to poor nutrition and diet-relatedchronic illness.

So why do we have poor eating habits? We often grab whatever is mostconvenient and least expensive – leading to food laden with sugar, salt andbad fats. Simply put, it is often easier not to eat well.

If only our bodies would automatically resist unhealthy food and cravethe healthy stuff. It is possible! By making small, incremental changes on adaily basis, we can re-train our tastes and cravings to align with what ourbodies really need. With March being Nutrition Month, here are some tips to get started:

• Eat early – a bit of lean protein first thing in the morning, such as a fewunsalted nuts, yogurt or a piece of cheese, gets your body burningcalories right away.

• Eat often – keep your body fuelled and reduce over-eating at mealtime.Carry a stash of fruit or vegetables for morning and afternoon snacks.

• Eat strategically – think of a pyramid. Eat big at breakfast, moderate at lunch time, with supper as your lightest meal. This gives your body afighting chance to work off calories.

• Eat simply – choose grilled fish or meats, whole-grain breads or rice andsteamed or raw vegetables. Limit sauces and dressings filled with sugar,salt and bad fats.

• Eat with pleasure – plan for an occasional indulgence and permityourself a small bit of the treats you love. Find healthy foods you enjoyand keep plenty on hand.

Staying hydrated is as essential as eating. A steady flow of water throughoutthe day supplies oxygen to our cells andour brain. Experts suggest drinking eightto 10 glasses of water daily. Try to beginand end each day with a tall glass of water.

Finally, we all know how hard it can beto eat healthy at work. Do yourself andyour colleagues a favour by checking outScotiabank’s Guidelines for Healthy FoodChoices at Meetings and Work Functions,in My Wellness Centre on HR Passport.

For more tips, visit Scotia Library Servicesunder Sites on HR Passport. Click on Healthand Wellness Resources and look underHealthy Eating. w

If you see a Scottish Terrier sniffing around

Scotiabank events, call him by his new name, Scoti!

In November, Canadian Banking employees

submitted their suggestions to name the Bank’s

mascot through Brand and Sponsorship’s Name our

Mascot contest for a chance to win a National

Hockey League (NHL) prize pack. From the thousands

of entries received, Scoti was chosen as the winning

name. All submissions with the name Scoti were

entered into a random draw for the grand prize. Rita

Roberts, Retail Banking Officer, Electronic Banking

Customer Contact Centre, Scarborough, Ontario, was

selected as the lucky winner.

The five other finalists’ names that were

considered include: Seamus, OTOG (an abbreviation

for One Team, One Goal), Nova, Spirit and ScotiaBark.

Scoti will appear at national and regional

Scotiabank events in communities across Canada

wearing one of three different outfits – the Nova Scotia

tartan, Scotiabank Official Bank of the NHL hockey gear,

or a Canadian Football League uniform. w

Scoti presented Name our Mascot contest winner Rita Roberts(shown above) with a gift certificate to shop.canada.nhl.com and a

signed jersey from NHL player Jarome Iginla!


Go online to www.scotiacares.com

ScotiaCaresBuilding vibrant communities

Scotiabank’snew mascot hasa name!


ScotiaCares

Scotiabank Jamaica is raising awarenessabout HIV and AIDS among youththrough the “Speak Up, Speak Out!”debating competition. The “Speak Up,Speak Out!” program is a multi-facetedapproach to promoting HIV and AIDSawareness and engaging students,teachers, parents and the communitythrough community outreach programs,parenting seminars and a debatingcompetition.

The debate focuses on topics tobring awareness about HIV and AIDS,educating youth and challenging someof the myths surrounding the issue. Thecompetition has sparked a variety ofawareness-raising initiatives, includingdebate finalists conducting preventionand awareness programs in ruralcommunities, and parent education

workshops. More than 130 schools haveregistered for the debate and 450schools have participated sinceScotiabank launched the competitionthree years ago. w

Health

Speak up, speak out against HIV/AIDS!

Bruce Bowen, ScotiabankJamaica President & CEO(far right), reads with Dr.Marion Bullock-Ducasse,Senior Medical Officer,Ministry of Health (left)and primary and juniorhigh school students.

Scotiabankers fromacross the LowerMainland area inBritish Columbia cameout to support theJuvenile DiabetesResearch Foundation(JDRF) at the Ride forDiabetes Research eventin Vancouver last fall. Ride for Diabetes Research events took place across thecountry from September to November where teams of five took turns ridingstationary bikes to raise funds for the JDRF. Scotiabankers in Vancouverraised $14,000 towards the JDRF’s fundraising goal of $5.8 million.

The JDRF is the leading charitable funder and advocate of Type 1diabetes research worldwide. Their mission is to find a cure for diabetes andits complications through the support of research. w

Supportingthe JDRFin BritishColumbia

(From left) Scotiabankers Laurie Brooks,Natasha Leslie, Liz Cornish, Jane Codyre and BridgetCommerford wore wacky wigs and took turns riding astationary bike to raise funds for the JDRF.

around the

groupTeaming up for the CNIBLast fall, employees from 22branches across the Central AlbertaDistrict took part in a fundraisingevent for the Canadian NationalInstitute for the Blind (CNIB).Through raffle ticket sales and fundsmatched by the Bank, the teamdonated more than $10,000 to theCNIB. This is the District’s secondannual raffle and, in total, they haveraised more than $20,500 for thecharity that provides research, publiceducation and vision health for allCanadians, including supportingpeople with vision loss. w

Providing hurricane relief inthe Cayman IslandsA group of 12 employees fromScotiabank & Trust Cayman Ltd.,visited Cayman Brac, CaymanIslands, to help out after hurricanePaloma hit in December of last year.The team helped four families cleanup damages to their homes causedby Paloma. The category fourhurricane, with high force winds,caused severe damage to buildingsacross the island. Scotiabankemployees also donated CI$5,000towards the recovery fund for theSister Islands. w


Employees from Wealth Management’sBusiness Solutions (WMBS) group rolledup their sleeves and ventured outdoorsto Trails, a non-profit organization thatworks with inner city youth fromToronto.

Scotiabankers built canoe racks,sanded paddles, cleared forest trails,washed windows, cleaned cabins andcleared seaweed from the lake.WMBS has been involved with Trailsfor five years and has contributed

more than 1,000 hours ofvolunteering to the

organization. w

Cleaning up campfor youth

around the

groupHelping food banksfrom coast to coast

Making a heavy donation inBritish ColumbiaSix Scotiabank branches in Surrey,British Columbia, came together tocollect food for the Surrey FoodBank earlier this year. Employeesalso generated support fromcustomers and the community,collectively gathering more than13,000 pounds of food, diapers andbaby formula for the food bank.

Floating for the food bank inNew BrunswickScotiabankers from the Lancasterbranch in Saint John, NewBrunswick, participated in theLancaster Santa Claus parade insupport of their local food bankearlier this winter. Employeescollected food donations along theparade route as well as at thebranch to help feed those in need.Their self-made float won the prizefor best large commercial float. w

Wealth Management employees Derrick Stewart (kneeling)and Greg Ryan (right) worked with a staff member from Trails(left) to build canoe racks.

Since visiting Jamaica in 2002, Scotiabanker SoniaCunningham and her husband were inspired to support

at-risk youth and established Citizens for the Advancement ofCommunity Development (CACD). Through this non-profit organization, the pairhas assisted youth through life skills programs and workshops in both Jamaica andthe Greater Toronto Area.

CACD relies entirely on fundraising for the operation of their programs. Theyreceived $1,000 through the Scotia Employee Volunteer Program and raised morethan $4,000, including funds matched by the Bank, through a fundraising brunchthat went towards the opening of their office at the Mississauga Community Centrein Ontario. The space will enable CACD to provide one-on-one counselling and helpteachers bring life skills programs into schools. w

Giving back to thecommunity

For the past two years, Scotiabanker Karolina Valverde, International Sr.Accounting Clerk, Centralized Accounting Unit, Costa Rica, has been helping toimprove the Justo A. Facio Kindergarten. With almost 200 volunteer hours,Valverde has organized fundraising raffles and helped out in the school’skitchen. In addition, Valverde donated a total of $2,000 to the school over thepast two years thanks to the Scotiabank Employee Volunteer Program. Thisyear’s donation has helped refurbish the school’s outdoor play areaand will help repair the girls’ and boys’ bathroom facilities. w

Committed to children’s education

Thanks to the commitment ofScotiabanker Karolina Valverde and fundraising efforts,the Justo A. Facio Kindergarten’s outdoor play area was repairedand a treehouse installed.

Community


ScotiaCaresHealth

Four years ago, Scotiabanker Julinna Florent,International Receptionist, Castries, St. Lucia,developed a spinal abscess thatparalyzed her and confined herto a wheelchair. Now, thanksto her fellow colleagues,she can stand tallagain. Her office heldthree dress-down daysto raise US$24,000,including funds matchedby the Bank, to help Florentacquire a motorizedstanding wheelchair. w

Scotiabanker Julinna Florent,International Receptionist,received a standing wheelchairthanks to a donation from herco-workers and fundsmatched by the Bank.

Standing tall

Employees from theCalgary Main branchin Calgary, Alberta,raised $12,000 forthe CalgaryFirefighters BurnTreatment Society(CFBTS) at theirannual Stampedepancake breakfast.Funds raised weredonated to theCFBTS’s treatmentcentre at FoothillsMedical Centre. The branch has been supporting the CFBTS since1996 and has raised more than $82,000 over the years to supportburn victims throughout Calgary and southern Alberta. w

Flipping pancakesfor a good cause

Employees from Calgary, Alta., host their annualStampede pancake breakfast to raise funds for theCalgary Firefighters Burn Treatment Society.

Fighting cancer in Hamilton and NiagaraScotiabankers from more than 30 Hamilton & NiagaraDistrict branches, and a team of employees from acrossOntario, helped support cancer research through theCanadians Against Cancer Campaign (CACC) andBright Run.

Employees in the Hamilton & Niagara Districtheld barbeques and other events, raising $12,900through the CACC. The funds were donated to theNiagara Regional Cancer Centre in Thorold, Ontario,and the Juravinski Cancer Centre (JCC) in Hamilton,Ontario.

Another group of employees from Ontario,inspired by their co-worker’s battle against breastcancer, rallied together in Hamilton to raise funds forthe JCC where their colleague, Nancy McMillan, isreceiving treatment. Employees joined Nancy’sfriends and family on the McMillan’s Madcaps teamand participated in the Bright Run. The team raisedmore than $17,000 for the JCC and was awarded TopFundraising Survivor Team for 2008. w

Employees joined McMillan’s Madcaps (shown here) to support theircolleague by participating in the Bright Run for the Juravinski Cancer Centre(JCC) in Hamilton, Ontario.

Sponsorship

Scotia Hope, Scotiabank’s 2008 UnitedWay of Greater Toronto (UWGT)

fundraising campaign, was a huge successwith employees working together to helppeople in need across the GreaterToronto Area (GTA). Thanks toemployees’ efforts and the Bank’scorporate gift, Scotia Hope raised $6.3million for UWGT.

The campaign kicked off inNovember with the Bank’s annualpancake breakfast where ScotiabankPresident & CEO Rick Waugh, Scotiabankexecutives, and UWGT President & CEOFrances Lankin flipped and servedpancakes at Scotia Plaza in Toronto.

“For more than 12 years, Scotiabankemployees have been bringing hope tocommunities where we live and workthrough our support of United WayToronto,” said Rick Waugh, President &CEO. “Through fun and inviting events,we are able to reach out to others andinspire them and help our employeesmake a difference in our community.”

During the campaign, employeesacross the region led and participated infundraising events.

Scotiabankers in Owen Sound,Ontario (photo 1), donated more than1,400 backpacks stocked with schoolsupplies for low-income families throughtheir annual United Way BackpackFundraiser. They raised an additional$1,100, including funds matched by theBank, through a bake sale and donations.

The Scotiabankers Charity HockeyTeam (photo 2), made up of employeesfrom districts and business lines acrossToronto, took part in the Score for UnitedWay 2nd Annual Hockey Tournament in

Oshawa, Ontario. The team raised morethan $6,000 of the $50,000 raised at thetournament.

Employees from Retail Deposits andDundee Bank participated in the 8thAnnual Gift Basket Drive for Women’sShelters (photo 3), a United Way Days ofCaring event. Scotiabankers created morethan 600 baskets, which were distributedto 35 shelters across the GTA.

At the Scotia Hope Hockey game inToronto (bottom right), Scotiabankexecutives teamed up with youth fromUnited Way agencies, National HockeyLeague alumni Wendel Clark and MarkNapier, and local celebrities for a friendlygame. More than 400 employees fromacross the Bank came out to show theirsupport.

This year, UWGT recognizedScotiabank as the top fundraiser andlargest corporate team for both theEnbridge CN Tower Climband Scotiabank Rat Racefundraising events.Scotiabank wasalso presentedwith the Spiritaward foremployeecampaigns over onemillion dollars.

With more than800 volunteers,Scotiabankcontinues to beone of the largestsupporters ofUnited Way ofGreater Toronto. w

1

2

3

Scotiabankersflip, score and more

for United Way

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