Scotiabank Announces New Regional Head of Asia Pacific & Middle East

Scotiabank today announced the appointment of Rod Reynolds to Senior Vice President, Asia Pacific & Middle East. The appointment is effective immediately.

"I want to congratulate Rod on his appointment and believe his significant international experience will serve our clients well," said Brian Porter, Group Head of International Banking at Scotiabank. "Rod is a valuable addition to the Pacific Regional Office team as they work to position Scotiabank for continued growth and success in the region."

Mr. Reynolds joined Scotiabank in 1983 and has held progressively senior positions across Canadian and International Banking. Most recently Mr. Reynolds worked in London, England where he held the position of Managing Director and Head of Global Banking and Markets' Europe-based operations.

Rod is returning to Scotiabank following a sabbatical during which worked on projects in India using management skills for poverty alleviation and in Africa supporting entrepreneurs and supply chain development.

About Scotiabank

Scotiabank operates in 12 countries and territories in the Asia/Pacific region including Australia, China, Egypt, Hong Kong, India, Korea, Japan, Malaysia, Singapore, Taiwan, Thailand and Vietnam. The Bank has 33 offices and more than 770 employees in the region.

Scotiabank opened a representative office in China in 1982 and has since established branches in Guangzhou, Chongqing, and Shanghai along with branches in Hong Kong and Taipei. Scotiabank provides clients in China with Corporate and Commercial Banking, Correspondent Banking, Foreign Currency, Foreign Exchange and Trade Finance services. In 2004 Scotiabank made a similar investment in Xi'an City Commercial Bank, which it increased in 2009. The Bank now holds 18.1 per cent of shares in Xi'an City Commercial Bank

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 80,000 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. With assets of $660 billion (as at April 30, 2012), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com .

For media enquiries: Paula Cufre, Scotiabank Media Communications, +1-416-866-4833 or [email protected]

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