Mr. Scace is Chairman of the Board of the Bank. He has a B.A. from the University of Toronto and the University of Oxford, a M.A. from Harvard University and LL.B. from Osgoode Hall. He was called to the bar in Ontario in 1967.

Mr. Scace sits on the boards of several companies, including Garbell Holdings Limited, Gardiner Group Capital Limited, Gerdau Ameristeel Corporation, Lallemand Inc., Sceptre Investment Counsel Limited and WestJet Airlines Inc. He is the former Chairman of the Canadian Opera Company and is a former Treasurer of the Law Society of Upper Canada. Mr. Scace is also involved in many other philanthropic organizations. In addition to the above, at different times during the period from 2003 to 2007, Mr. Scace served as a director of the following publicly-traded companies: The Canada Life Assurance Company, Canada Life Financial Corporation, Brompton Equity Split Corp. and Brompton Split Banc Corp.

Areas of Expertise:

• Governance
• Law

Scotiabank Board Details:

• Director since March 25, 1997. Chairman since March 2, 2004.
• Member of: Executive and Risk Committee and Human Resources Committee (Chair). Ex-officio member of Audit and Conduct Review Committee and Corporate Governance and Pension Committee.
• Meets Share Ownership Guidelines
• Independent
• Latest Retirement Date: ineligible for re-election in March 2009