Richard Earl Waugh (born 23 December 1947) is a

Canadian Canadians () are people identified with the country of Canada. This connection may be residential, legal, historical or cultural. For most Canadians, many (or all) of these connections exist and are collectively the source of their being ''C ...

banking executive. Born in

Winnipeg Winnipeg () is the capital and largest city of the Provinces and territories of Canada, Canadian province of Manitoba. It is centred on the confluence of the Red River of the North, Red and Assiniboine River, Assiniboine rivers. , Winnipeg h ...

Manitoba Manitoba is a Provinces and territories of Canada, province of Canada at the Centre of Canada, longitudinal centre of the country. It is Canada's Population of Canada by province and territory, fifth-most populous province, with a population ...

, he is the Deputy Chairman of

Scotiabank The Bank of Nova Scotia (), operating as Scotiabank (), is a Canadian multinational corporation, multinational banking and financial services company headquartered in Toronto, Ontario. One of Canada's Big Five (banks), Big Five banks, it is the ...

, and an Officer of the Order of Canada. He was the

chief executive officer A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

, between 2004 and 2013.

Career

In 2007, he was appointed by government officials to offer his views at summit talks regarding business prospects in

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. Waugh publicly advocated for more transparent rules regarding foreign takeovers of Canadian businesses in 2010. Waugh was cited as having the highest CEO pay increase of 29% in 2009 during the Great Recession. He earned C$9.7 million in 2009, including salary, bonus, and equity-linked compensation, according to ''

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''. During his tenure the bank experienced growth, in addition to the impact of fraud allegations during its efforts at international expansion. According to the ''Globe and Mail'', Waugh was considered successful at increasing his bank's profit margin, however, "He has been dubbed a micro-manager who put a lot of pressure on his top lieutenants, with one source describing his management style as "bad parenting". He retired in 2013. Waugh later became the chair of the

York University York University (), also known as YorkU or simply YU), is a public university, public research university in Toronto, Ontario, Canada. It is Canada's third-largest university, and it has approximately 53,500 students, 7,000 faculty and staff, ...

Board of Governors. In 2018, several of the faculties and students associations at York issued votes of non-confidence in his leadership during a lengthy teachers strike.

Education

He obtained his undergraduate degree from the

University of Manitoba The University of Manitoba (U of M, UManitoba, or UM) is a public research university in Winnipeg, Manitoba, Canada. Founded in 1877, it is the first university of Western Canada. Both by total student enrolment and campus area, the University of ...

. He holds an

MBA A Master of Business Administration (MBA) is a professional degree focused on business administration. The core courses in an MBA program cover various areas of business administration; elective courses may allow further study in a particular a ...

and an Honorary

Doctor of Laws A Doctor of Laws (LL.D.) is a doctoral degree in legal studies. The abbreviation LL.D. stands for ''Legum Doctor'', with the double “L” in the abbreviation referring to the early practice in the University of Cambridge to teach both canon law ...

degree from

Schulich School of Business The Schulich School of Business is the business school of York University located in Toronto, Ontario, Canada. The institution provides undergraduate and graduate degree and diploma programs in business administration, finance, accounting, bus ...

References

External links

Profile of Richard E. Waugh at Scotiabank.com
Scotiabank presidents Living people Businesspeople from Winnipeg Schulich School of Business alumni Directors of Scotiabank Canadian chairpersons of corporations Canadian chief executives 1947 births University of Manitoba alumni {{Canada-business-bio-stub