Mr. O'Neill, age 63, is a corporate director and the retired Chair of the Board of PwC Consulting. He was formerly Chief Executive Officer of PwC Consulting, Chief Operating Officer of PricewaterhouseCoopers LLP, Global, Chief Executive Officer of PricewaterhouseCoopers LLP, Canada and Chair of the Board and Chief Executive Officer of Price Waterhouse Canada. He holds a Bachelor of Commerce from Queen's University and is a chartered accountant. In 2008, Mr. O'Neill was awarded a Fellowship by the Institute of Corporate Directors of Canada, in 2005, an Honorary Doctorate of Law by Queen's University and in 1988, the Fellow Chartered Accountant designation by the Ontario Institute of Chartered Accountants.

Mr. O'Neill currently sits on the boards of BCE Inc., Loblaw Companies Limited, Nexen Inc., Adecco S.A. and St. Michael's Hospital. Mr. O'Neill assumed the role of Chairman of the Board of BCE Inc., following its Annual Meeting in February 2009. He is a member of the External Audit Committee of the International Monetary Fund and former Vice-Chair of the Board of Governors of Queen's University. He is also past Director of the Ontario Teachers' Pension Plan (2003-2007). In addition, during the period from 2004 to 2008, Mr. O'Neill also served as a director of Dofasco Inc., a publicly-traded company.

Scotiabank Board Details:

• Director since May 26, 2008
• Member of: Audit and Conduct Review Committee and Corporate Governance and Pension Committee
• Has until fiscal 2013 to meet Share Ownership Guidelines
• Independent
• Latest Retirement Date: ineligible for re-election in April 2015