1. A Review of Scotiabank:An HR Planning Perspective Anthony M. Eric R. Jeff J. Priyanka A.

2. Agenda: History of Scotiabank Economic Indicators Mergers and Acquisitions Diversity Management Future implications and HR Recommendations

3. History In 1832 a group of businessmen gathered at the Merchants Exchange Coffee House in Nova Scotia Royal assent and granted an opening provision of £100,000 Opened its door for business on August 29, 1832 under the direction of the Honourable William Lawson In 1874 opened its first branch outside of Nova Scotia in Saint John, NB

4. History Continued Became first Canadian bank to open outside of the United States of America or the United Kingdom After the Second World War began expanding its business to incorporate loans and public trading of gold Became the first bank to appoint a woman as a branch manager

6. retail

7. small business

8. wealth management and

9. commercial banking accounts

10. Core Purpose: to be a leading multinational financial service provider, based in Canada – by being the best at helping customers become financially better off Scotiabank’s Motto: STRENGTH, INTEGRITY AND SERVICE

12. Third largest bank out of “Big Five Banks” Total Assets = $496.5 Billion Number of employees = 607,000 Number of customers worldwide = over 14.6 million Founded in 1832 Halifax Nova Scotia

13. SWOT: Opportunities and Threats Bank of Canada report on post recession economic recovery Expected growth rates of only 3.0% in 2010, 2.3%, and 2.6% in 2012 Policy interest rate at 1% Business investment rates vs. Residential business investment rates

14. SWOT Continued Exhaustion of combined Old Age and Survivors’ insurance and Disability insurance Trust Funds by 2039 Increased focus on commercial and government business Personal banking geared towards savings and securities for future growth and protection Advantages with debt restructuring and high interest savings accounts

16. Mergers and Acquisitions Abysmal success rate of Mergers and Acquisitions due to lack of culture management Originally executed this strategy to obtain markets in PEI, New Brunswick, Quebec, and Ontario Merger with Montreal Trust Company Scotiabank is successful at building cohesive cultures

17. Some of Scotiabank’s Mergers

18. Mergers and Acquisitions Involved mostly with market and product expansion mergers Mergers as an integral part of business growth strategy Interested in passive but prominent market players Culture of diversity and commitment

19. Future Forecasts for Mergers International expansion or individual product expansion Market trends indicate most banking will be related to large business transactions and investment for upgrading technology Solidifying their product offerings for large businesses Increase in consumer market for saving strategies and trust offerings Consequences of strong Canadian dollar

20. Diversity Benefits of diversity management include: - Talent and new ideas - Recruiting and retention - Increase market shares - Lower costs

23. Advantages of linking corporate strategy with diversity Recognize the value of having a diverse workforce Language proficiency, knowledge of foreign culture market and trade links overseas

24. Diversity management continued Programs and initiatives as a part of HR planning: - Diversity and inclusion strategic plan - Diversity component - Target recruitment for Aboriginals - Disability support management team (e.g. accommodated a blind employee in 2009) - Support for women employees (e.g. Networking series)

25. Future Implications for 2011 Experts reports Ontario will see considerably slower economic growth in 2011 Growth rates across Canada are expected to vary between 1.9% in PEI up to 3.5 % in Alberta. Ontario is expected to see a growth rate of 2% Scotiabank wants to continue to grow into the future and achieve their ultimate goal to be the largest international bank in the world Projected mergers for this year and focus on diversity demonstrate just a few aspects of their corporate strategy Scotiabank is and will continue to be a successful market leader

26. Recommendations Focus on international growth and investments Diversity included in all succession plans Increased use of multi-cultural employees in the assimilation of cultures in foreign markets Continuing to offer specialized training and development programs for people with disabilities

27. Questions?

28. References CBC News. (2010, September 16). Scotiabank to buy Brazilian bank. Retrieved November 2010, from CBCNews: http://www.cbc.ca/money/story/2010/09/16/scotiabank-brazil.html Contact Center Employer Of Choice. (2010). Scotiabank. Retrieved November 2010, from http://www.ccemployerofchoice.com/registry_scotia_bank.htm French, C. (2010, August 31). Scotiabank profit gains on retail strength. Retrieved November 2010, from MSN Money: http://money.ca.msn.com/investing/news/breaking-news/article.aspx?cp-documentid=25406048 Greenwood, J. (2010, September 27). Scotiabank buys Royal Bank of Scotland's Chilean operations. Retrieved November 2010, from The Financial Post: http://www.financialpost.com/news/Scotiabank+buys+Royal+Bank+Scotland+Chilean+operations/3585134/story.html Jackson, R. M. (2007). Human Resources Management, 12th edition. Toronto: Nelson Education Ltd. McBey, M. B. (2010). Strategic Human Resources Planning. Toronto, ON: Nelson Education Ltd. Monica Belcourt, G. B. (2011). Managing Human Resources. Toronto: Nelson Education Ltd. Reuters. (2010, February 3). Scotiabank sees wholesale growth opportunites: CEO. Retrieved November 2010, from Canada.com: http://www.canada.com/business/fp/Scotiabank+sees+wholesale+growth+opportunities/2517797/story.html

29. References Continued Reuters. (2010, September 7). Scotiabank separates wealth management unit. Retrieved November 2010, from Reuters: http://www.reuters.com/article/idUSN0722273920100907 Scotia, T. B. (2010). Retrieved November 2010, from Scotiabank: www.scotiabank.ca Scotiabank. (2010). A History of Trust. Retrieved November 2010, from http://www.scotiabank.com/cda/content/0,1608,CID11732_LIDen,00.html Scotiabank. (2010). Corporate Profile. Retrieved November 2010, from Scotiabank: http://www.scotiabank.com/cda/content/0,1608,CID821_LIDen,00.html Scotiabank. (2010). Diversity and Inclusion. Retrieved November 2010, from http://www.scotiabank.com/cda/content/0,1608,CID844_LIDen,00.html The Bank of Cananda. (2010, October). Where's the Economy Going? Retrieved November 2010, from www.bankofcanada.ca The Bank of Nova Scotia. (2010, November 4). Canada's Balance Sheet & Economic Advantages Mitigate Household Debt Risks. Retrieved November 2010, from http://www.scotiabank.com/cda/content/0,1608,CID8339_LIDen,00.html# The Bank of Nova Scotia. (2010, November 4). QE2 Sets Sail. Retrieved November 2010, from http://www.scotiabank.com/cda/content/0,1608,CID8339_LIDen,00.html# Wikipedia. (2010, November 27). Scotiabank. Retrieved December 2010, from http://en.wikipedia.org/wiki/Scotiabank Yerema, R. C. (2010, March 23). Chosen as one of Canada's Best Diversity Employers for 2010. Retrieved November 2010, from Eluta.ca: http://www.eluta.ca/diversity-at-scotiabank-group