Herbert D. Burns
Herbert Deschamps Burns | |
|---|---|
| Born | June 11, 1878 Digby, Nova Scotia, Canada |
| Died | March 28, 1960 (aged 81) Toronto, Ontario, Canada |
| Occupation | Banker |
| Years active | 1896–1955 |
| Known for | President (1945–1949) and chairman (1949–1955) of the Bank of Nova Scotia |
Herbert Deschamps Burns (11 June 1878 – 28 March 1960) was a prominent Canadian banker who held the positions of president (1945–1949) and chairman (1949–1955) at the Bank of Nova Scotia. Beginning his career in 1896 as a junior clerk at the Moncton branch, he steadily climbed the ranks, taking on various managerial roles before relocating to Toronto's main office in 1923 as assistant general manager. Burns was appointed general manager in 1941, elevated to vice-president in 1945, and later that same year assumed the presidency. Upon concluding his term as president in 1949, he transitioned to chairman of the board, a role he fulfilled until his retirement in 1955.
In 1932, two of Burns’s sons established the investment brokerage firm Burns Bros. & Company. This firm was eventually acquired by the Bank of Montreal in 1994 and merged with Nesbitt, Thomson and Company, resulting in BMO Nesbitt Burns, which stands today as one of Canada’s leading brokerage entities. Burns died in Toronto on 28 March 1960 at the age of 81.
Biography
Originating from Digby, Nova Scotia, Burns received his education at Digby Academy and completed his secondary studies in Moncton, New Brunswick. He entered the Bank of Nova Scotia workforce as a junior clerk in 1896. His early career involved accounting assignments at the bank’s branches in Boston and Montreal between 1901 and 1905, followed by management positions across Kentville, Nova Scotia; Woodstock, New Brunswick; and Vancouver from 1905 to 1915. In 1915, he relocated to Toronto to serve as superintendent overseeing western branches and subsequently managed the Toronto branch from 1916 until 1923.
Burns was promoted to assistant general manager in 1923, advanced to general manager in 1941, joined the board as director in 1944, became vice-president in 1945, and later that year was named president. He took over the presidency from John Andrew McLeod and was succeeded by Horace Luttrell Enman in 1949 when he stepped into the chairman position. He held this chairmanship until 1955.
Beyond his work at the bank, Burns held leadership roles as president and chairman of Crown Life Insurance Company and served on the boards of National Trust Company, Central Canada Loan & Savings Co., and Toronto Savings & Loan Co.
In 1903, he married Marguerite Williams; together they had four children. Two of their sons founded Burns Bros. & Company brokerage in 1932, which later developed into Burns Fry before its acquisition by Bank of Montreal forming BMO Nesbitt Burns. Despite enduring the premature loss of two sons, the family maintained executive involvement within the brokerage business. Following Marguerite’s passing in 1947, Burns remarried Aileen Steele.
Herbert Deschamps Burns died at his residence in Toronto on 28 March 1960 at age 81.