Mr. Scace is Chairman of the Board of the Bank. He is also a corporate director. 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 Brompton Equity Split Corp., Brompton Split Banc Corp., Garbell Holdings Limited, Gardiner Group Capital Limited, Gerdau Ameristeel Corporation, Lallemand Inc., N.M. Davis Corporation Limited, Sceptre Investment Counsel Limited and WestJet Airlines Inc. and serves as a director of a number of private companies within the Brompton Group of companies. He is 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 2002 to 2006, Mr. Scace served as a director of the following publicly-traded companies: The Canada Life Assurance Company and Canada Life Financial Corporation.

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