Colombian business leader named to Scotiabank's board

Scotiabank announced Monday that Colombian business leader Eduardo Pacheco has been appointed to the bank's Board of Directors.

Pacheco is the CEO and director of Mercantil Colpatria and has significant experience in the Colombian marketplace. Previously, Pacheco was CEO of the Savings and Housing Corporation Upac Colpatria Corpavi.

Pacheco also serves as chairman of Banco Colpatria Multibanca Colpatria and Mineros, a Colombian mining business dealing with gold. He also is a member of the Superior Council of Universidad de los Andes and serves on the boards of a variety of private organizations, including the Colombian Housing Institute and Comcel, a mobile phone operating business.

"Through his extensive experience and knowledge of the Colombian marketplace, Eduardo brings deep regional and business insights to the board," Scotiabank Board Chairman Thomas O'Neill said. "We look forward to his contributions and perspective, particularly as Scotiabank continues its focus on the Pacific Alliance countries of Mexico, Peru, Colombia and Chile."

Scotiabank, Canada's international bank, is a majority owner of Banco Colpatria.