$500K gift supports Catalyst establishing presence in one of the world's most dynamic economies
TORONTO, June 26, 2012 /CNW/ - As part of its commitment to the advancement of women globally, Scotiabank, Canada's most international bank, today announced a $500K donation to support the launch of Catalyst in Mexico. The gift is an investment in Catalyst's global operation which aims to expand opportunities for women and business.
"Scotiabank is proud to be a founding supporter of Catalyst in Mexico where we have had retail operations for more than 15 years," said Sylvia Chrominska, Group Head of Global Human Resources and Communications for Scotiabank. "With its excellence in research and unique global-local operating model, Catalyst is the perfect organization to lead businesses in Mexico toward unlocking and developing the leadership potential of women. Scotiabank shares Catalyst's commitment to building inclusive workforces and is proud to support this exciting ground-breaking initiative."
Scotiabank's donation will support the foundation work that will allow Catalyst to build a presence in Mexico including preliminary research upon which country-specific leadership programming will be built. As the founding partner of the initiative, Scotiabank will also provide region sensitive counsel in support of Catalyst's effort to introduce best practices to accelerate the advancement of women in Mexico.
"We're honored to have the generous support and commitment of Scotiabank," said Deborah Gillis, Senior Vice President of Membership and Global Operations for Catalyst. "In addition to accelerating our impact in one of the most vital economies in the world, Scotiabank's on-the-ground knowledge and experience in Mexico will greatly assist us as we look to implement our vision and programming in locally sensitive and competent ways."
Scotiabank was the first bank in Mexico to be led by a woman with the appointment of Nicole Reich de Polignac as President and CEO of Grupo Financiero Scotiabank Mexico in 2007. Ms. Reich de Polignac has since been named one of the most powerful executives in Mexico by CNN Expansion Magazine and one of the top ten CEO´s of Latin America by America Economia Magazine. Scotiabank has also been recognized by The Great Places to Work Institute Mexico, Equidad de Género (Inmujeres) for best practices in gender equity.
"The time is right for Catalyst to begin building a presence in Mexico where vital economic growth and a growing number of educated women are entering markets and workforces and opening doors to new opportunities for working women," said Ms. Reich de Polignac. "When we build diverse and inclusive workforces we also strengthen competitiveness and bottom line results. And that's good for Mexico's economy."
Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 80,000 employees, Scotiabank and its affiliates serve some 19 million customers in more than 55 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets of $660 billion (as at April 30, 2012), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.
Founded in 1962, Catalyst is the leading nonprofit membership organization expanding opportunities for women and business. With offices in the United States, Canada, Europe, and India, and more than 500 preeminent corporations as members, Catalyst is the trusted resource for research, information, and advice about women at work. Catalyst annually honors exemplary organizational initiatives that promote women's advancement with the Catalyst Award. During our 50th anniversary, Catalyst welcomes partners committed to creating true change for women and multicultural employees.
Catalyst and its supporters believe they can accelerate the momentum of women's advancement in the business world.
Global Expansion—Expanding Geographic Reach
In developing countries, educated women are entering the workforce, driving an emergent middle class, and creating new market opportunities for local and global organizations. Catalyst's global members and business leaders in Brazil, Mexico, India, China, and Japan, among others countries, seek to adopt and apply best practices in ways that respect yet impact local norms and cultures. They want to activate and leverage educated female talent in their workforces, and they see the opportunity to leapfrog rather than repeat the experiences of women in North America and Europe.
Catalyst's disciplined approach to global expansion starts with research to understand the opportunities and barriers that working women in developing countries face, and uncover localized approaches for creating meaningful change.
For further information:
Deborah Clark. Scotiabank Media Communications, [email protected]
Paula Cufre, Scotiabank International Media Communications,
[email protected] 416-866-4833
Susan Nierenberg at [email protected] 646-388-7744