Former Scotia Bank Chief Executive Honoured with Donation to UNB
FREDERICTON – A New Brunswick-born former chief executive is being honoured with a donation to the University of New Brunswick.
Scotiabank announced Tuesday that it’s providing UNB with a “leadership gift” of $1 million. The new funds will be used to support awards for students interested in pursuing educational opportunities overseas. The Cedric Ritchie Scotiabank International Study Awards will provide financial assistance to students at UNB campuses in Fredericton and Saint John who wish to participate in UNB’s Student Abroad opportunities, available through partnerships with 90 international institutions. The second part of the donation will support the Scotiabank Special International Internships, offered through Renaissance College, UNB’s specialized undergraduate leadership school, which has international internships built into the curriculum. The award will provide financial support to students who intend to work with individuals who are managing physical challenges during their overseas internship.
Cedric Ritchie began his career at the bank as a teller in Bath, N.B. in 1945 and spent more than 20 years as President, CEO and Chairman of Scotiabank before retiring in 1995. Dr. Ritchie, who was awarded an honorary doctorate from UNB in 1986, passed away in March of this year.
“Cedric Ritchie had the vision to realize the need for businesses to think globally, particularly those in the financial industry,” said James McPhedran, executive vice president of Canadian banking at Scotiabank, in a release “Under his leadership, the bank expanded into more than 40 countries. This award is a great fit to recognize his legacy of appreciating perspectives and insights from around the world. We look forward to seeing just how much these students achieve throughout their academic careers and beyond.”