Richard E. Waugh (born 1947) is a

Canadian Canadians (french: Canadiens) 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 ...

banking executive. Born in

Winnipeg Winnipeg () is the capital and largest city of the province of Manitoba in Canada. It is centred on the confluence of the Red and Assiniboine rivers, near the longitudinal centre of North America. , Winnipeg had a city population of 749,6 ...

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 o ...

, he is the Deputy Chairman of

Scotiabank The Bank of Nova Scotia (french: link=no, Banque de Nouvelle-Écosse), operating as Scotiabank (french: link=no, Banque Scotia), is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. One of Canada ...

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

chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

, between 2004 and 2013.

Career

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

Latin America Latin America or * french: Amérique Latine, link=no * ht, Amerik Latin, link=no * pt, América Latina, link=no, name=a, sometimes referred to as LatAm is a large cultural region in the Americas where Romance languages — languages derived f ...

. 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 ''

Bloomberg News Bloomberg News (originally Bloomberg Business News) is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg Televi ...

''. 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 (french: Université York), also known as YorkU or simply YU, is a public university, public research university in Toronto, Ontario, Canada. It is Canada's fourth-largest university, and it has approximately 55,700 students, 7,0 ...

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 Canadian public research university in the province of Manitoba.MBA A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounti ...

and an Honorary

Doctor of Laws A Doctor of Law is a degree in law. The application of the term varies from country to country and includes degrees such as the Doctor of Juridical Science (J.S.D. or S.J.D), Juris Doctor (J.D.), Doctor of Philosophy (Ph.D.), and Legum Doctor (LL. ...

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, busine ...

References

External links

Profile of Richard E. Waugh at Scotiabank.com
Scotiabank presidents Living people People 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