John Crean, senior executive VP of Global Risk Management at Scotiabank, is retiring
at the end of February after more than 30 years at the Bank. Following his retirement, his role will be split between two senior Scotiabank executives, one focusing on global credit risk and the other on market risk.

“John has done a tremendous job for Scotiabank. He has run the credit and risk management functions of the Bank for over 10 years during which time he has introduced significant changes in the structures for evaluating and managing risk. We wish him every success,” says Scotiabank chairman and CEO, Peter Godsoe.

“We are also delighted to announce the appointment of Warren Walker as EVP, Global Credit Risk Management,” he says. Walker, currently executive VP, electronic delivery, will become executive VP, global credit risk management, responsible for the global credit risk division, on March 1, 2003.

Senior executive VP and CFO, Sabi Marwah, will also be responsible for market risk, effective March 1, 2003. Marwah’s current duties include responsibility for financial control and reporting, taxation, audit, investor relations, general counsel and real
estate across the Scotiabank Group.