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Scotiabank’s Mexico Chief Reich de Polignac Resigns

Sept. 18 (Bloomberg) -- Bank of Nova Scotia said Nicole Reich de Polignac, the head of its Mexico unit, resigned after about five years in the role.

Reich de Polignac left yesterday, Toronto-based Scotiabank said in an e-mailed statement. Carlos Lomeli will oversee the unit while the bank seeks a replacement.

Scotiabank Chief Executive Officer Richard Waugh said the departure was related to Reich de Polignac’s “career and aspirations” and won’t have an impact on operations in Mexico.

“We’re very confident in Mexico,” Waugh told reporters today in Toronto. “The country is going through some political change and that, but the outlook for Mexico, its financial system and for Scotiabank is just fine.”

Reich de Polignac joined Scotiabank, Canada’s third-largest lender by assets, in 2005 as head of operations in the Dominican Republic. She was named president and CEO of Grupo Financiero Scotiabank in October 2007.

The change was reported earlier by CNNExpansion.

To contact the reporter on this story: Sean B. Pasternak in Toronto at spasternak@bloomberg.net

To contact the editors responsible for this story: David Scanlan at dscanlan@bloomberg.net; David Scheer at dscheer@bloomberg.net

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