TORONTO, Dec. 15,
2023 /CNW/ - Today, many current and former
Scotiabankers are mourning the passing of Peter Godsoe—visionary
leader and former Chairman and Chief Executive Officer of
Scotiabank from 1993 to 2003.
"Today many Scotiabankers are remembering the great
business leader, individual and family man that Peter Godsoe was,"
said Scott Thomson, President and
Chief Executive Officer at Scotiabank. "Peter's incredible career
at Scotiabank spanned almost four decades, as he worked his way up
from a teller to Chairman and CEO, and those who worked with him
fondly remember the visionary and forward-looking leader that he
was."
During his time at the helm of the Bank, Mr. Godsoe worked
to grow the Bank's scale. He oversaw the purchase of both National
Trust and Montreal Trust—significant acquisitions that grew
Scotiabank's presence domestically. He also saw opportunity for the
Bank abroad in markets such as Mexico, where Scotiabank took a controlling
stake in Grupo Financiero Inverlat SA.
"Peter was prescient in his vision for our unique North American
connectivity. He saw the immense opportunity in—and potential
of—Mexico, and led the expansion of our presence there," continued
Mr. Thomson. "He was also ahead of his time in his strong support
for diversity and inclusion and as a champion for women in
leadership, and left an exceptional and enduring legacy for all of
us here at Scotiabank and the world around him."
In 1993, Mr. Godsoe appointed a special independent task force
to find out why so few women held upper management positions and to
determine how to improve this situation, and he also oversaw the
appointment of the Bank's first woman Executive Vice President.
During Mr. Godsoe's tenure, the Bank also changed its definition of
spouse to permit benefit coverage for same-sex partners.
For his success in business and his overarching generosity,
Mr. Godsoe was awarded the Order of Canada in 2001.
The Peter Godsoe/Scotiabank Scholarships in Financial
Engineering and International Finance at the Rotman School of
Management were established in 2003 upon his retirement as Chair
and CEO. The Bank will be looking to further honour his legacy in
the months ahead.
About Scotiabank
Scotiabank's vision is to be our clients' most trusted financial
partner, to deliver sustainable, profitable growth and maximize
total shareholder return. Guided by our purpose: "for every
future," we help our clients, their families and their communities
achieve success through a broad range of advice, products and
services, including personal and commercial banking, wealth
management and private banking, corporate and investment banking,
and capital markets. With assets of approximately $1.4 trillion (as at October 31, 2023), Scotiabank trades on the
Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange
(NYSE: BNS). For more information, please visit
http://www.scotiabank.com and follow us on X @Scotiabank.
SOURCE Scotiabank