Scotiabank Funds $1 Million Canada-China MBA Scholarship Program

    BEIJING, Sept. 25 /CNW/ - Scotiabank today announced a partnership
agreement with Guanghua School of Management, at Peking University, and the
Schulich School of Business, at York University. The initiative establishes a
$1 million endowed scholarship program, the Scotiabank Scholarships in
International Business, to support Chinese students wishing to complete their
Master of Business Administration (MBA) studies in Canada.
    "Scotiabank has always had a strong commitment to education and is proud
to support students pursuing their goals and obtaining a first-class education
through institutions like Peking and York Universities," said Rick Waugh,
President and Chief Executive Officer (CEO), Scotiabank. "By supporting a
diverse range of educational programs, including the Scotiabank Scholarships
in International Business, Scotiabank hopes to give young people experiences
to develop their potential, ultimately enriching themselves and the broader
community around them."
    The Scotiabank Scholarships in International Business program complements
a 2003 agreement between Schulich and Guanghua, establishing a bilateral MBA
academic exchange program. The agreement was subsequently extended to
undergraduates. In 2006, the two management schools launched a dual MBA degree
program which makes it possible for Guanghua students to do the second year of
their MBA program at Schulich in Toronto after completing their first year in
Peking. The new Scotiabank scholarship program also includes the provision
that scholarship winners will complete a summer internship with Scotiabank
before starting their second MBA year at Schulich.
    "The Scotiabank scholarships and summer internship program will greatly
enhance the value and prestige of our dual degree program with Schulich," said
Weiying Zhang, Dean of the Guanghua School of Management. "The scholarship
program will also provide invaluable assistance to Guanghua MBA students
looking to enrich their international learning and work experience."
    "Canadian businesses must view the entire world as one marketplace, and
to truly understand how best to operate in that marketplace, businesses must
invest and partner with Canada's finest educational institutions," added Mr.
Waugh. "For Scotiabank, this new scholarship not only aligns with our
international business objectives, but also our commitment to support the
communities in which our employees work and live."
    "The Scotiabank Scholarships in International Business will help us
attract the very best and brightest Chinese MBA students to this innovative
dual degree program," said Dezsv J. Horvath, Dean of the Schulich School of
Business. "As Canada's Global Business School(TM), Schulich shares
Scotiabank's global scope and international orientation, and we are proud to
be associated with this significant new scholarship program.'
    Since its establishment last year, Mr. Waugh and Mr. Horvath have been
members of the Guanghua School of Management's International Advisory Council
chaired by former Kellogg School of Management Dean Donald Jacobs. The purpose
of the Council is to create unique opportunities for the exchange of ideas
about business, build a cross-cultural dialogue and allow for the
establishment of new relationships.

    About the Guanghua School of Management

    Guanghua School of Management is committed to creating and spreading the
most advanced economic and management knowledge. Its professors always stand
at the front of social and economic transformations. Guanghua provides
bachelor's, master's, doctorate, MBA and EMBA education, all based on strict
and precise theoretical researches. Through initiatives in educational system
reforms, Guanghua seeks to endow all of its graduates with sound ethics, good
theoretical knowledge, esprit de corps, and the capabilities to innovate and
pioneer. The graduates should be able to apply their learning to practices and
solve problems in the economy and management. Visit us at
    The International MBA (IMBA) Program was launched in 2000 as Guanghua
further expanded internationally, partnering with prestigious business schools
- National University of Singapore (NUS) Business School, ESSEC Business
School at France, Schulich Business School of York University, in Canada,
McCombs School of Business at the University of Texas, in the U.S., and
Graduate Business School at Seoul National University, in South Korea. It is
uniquely designed to develop graduates with global perspective, significant
leadership quality, and advanced business knowledge.
    The IMBA Program is structured as a two-year full-time program. All the
courses are conducted in English. Students can choose to study the full two
years in Peking University (PKU), one semester overseas (exchange program), or
one year in PKU and one year overseas (dual-degree MBA program) at a partnered
dual-degree university. For the dual-degree MBA program, candidates will be
awarded two MBA degrees by both schools if they successfully complete the
program of study fulfilling the requirements of both schools.

    About the Schulich School of Business

    Known as Canada's Global Business School(TM), the Schulich School of
Business in Toronto is ranked among the world's leading business schools by a
number of global surveys. For complete ranking details, visit
    Global, innovative and diverse, Schulich offers business programs
year-round at two Toronto campuses - its new state-of-the-art complex on York
University's main campus and its downtown Miles S. Nadal Management Centre
located in the heart of the city's financial district. The School also
operates satellite centres in Beijing and Shanghai, China; Mumbai, India;
Seoul, South Korea; and Moscow, Russia. Schulich offers undergraduate,
graduate and postgraduate business degrees that lead to careers in the
private, public and nonprofit sectors, and has over 20,000 alumni working in
more than 90 countries. Schulich pioneered Canada's first International MBA
(IMBA) and International BBA (iBBA) degrees, as well as North America's first
ever cross-border executive MBA degree, the Kellogg-Schulich Executive MBA.
Schulich's Executive Education Centre provides executive development programs
annually to more than 16,000 executives in Canada and abroad.

    About Scotiabank

    Scotiabank has been in China for more than 20 years with offices located
in major markets throughout the country. We have representative offices in the
capital, Beijing and in Shanghai, which is the most rapidly growing market in
China and home to many multinational corporations. We also have branches to
the south in Guangzhou and in central China in Chongqing. Recently, we
purchased a minority stake in Xi'an City Commercial Bank, an investment
initiative undertaken jointly with the International Financial Corporation.
This is a first by a Canadian bank, in which we are one of a small number of
foreign banks with an investment in a domestic Chinese bank.
    Scotiabank is committed to supporting the communities in which we live
and work, both in Canada and abroad. Recognized as a leader internationally
and among Canadian corporations for its charitable donations and philanthropic
activities, in 2007 the Bank provided more than $43 million in sponsorships
and donations to a variety of projects and initiatives, primarily in the areas
of healthcare, education, social services and arts and culture. Visit us at
    Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With more than 60,000 employees, Scotiabank
Group and its affiliates serve approximately 12.5 million customers in some 50
countries around the world. Scotiabank offers a diverse range of products and
services including personal, commercial, corporate and investment banking.
With $462 billion in assets (as at July 31, 2008), Scotiabank trades on the
    Toronto (BNS) and New York Exchanges (BNS). For more information please

For further information:

For further information: Frank Switzer, Scotiabank, at (416) 866-7238,

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