Richard E. Waugh

Richard Earl Waugh
Born	(1947-12-23) December 23, 1947 Winnipeg, Manitoba, Canada
Occupation	Banking executive
Years active	–2013
Known for	CEO of Scotiabank (2004–2013)

Richard Earl Waugh (born December 23, 1947) is a Canadian executive in the banking sector, originally from Winnipeg, Manitoba. He held the position of Deputy Chairman at Scotiabank and was the bank's CEO between 2004 and 2013. Waugh has been honored as an Officer of the Order of Canada.

Career

In 2007, government authorities appointed Waugh to offer expertise regarding business prospects in Latin America. He called for more transparent regulations on foreign acquisitions of Canadian companies, particularly following the federal government's rejection of BHP Billiton's attempt to acquire Potash Corp. in 2010. During the financial crisis of 2009, Waugh's CEO remuneration increased by 29%, reaching C$9.7 million, which corresponded with Scotiabank's strong financial performance amid economic instability. Throughout his tenure, the bank expanded its profit margins despite facing difficulties such as fraud accusations related to its overseas growth. His leadership approach was characterized as exacting and involved close oversight, with some detractors comparing it to "bad parenting." After retiring in 2013, Waugh took on the role of chair for the York University Board of Governors. His leadership was scrutinized during an extended faculty strike at York University in 2018.

Education

Waugh completed his bachelor's degree at the University of Manitoba and holds an MBA along with an Honorary Doctor of Laws awarded by York University's Schulich School of Business.

External links

• Profile of Richard E. Waugh at Scotiabank.com