By Sarah Kelsey

“Every person needs to have a purpose,” Meigan Terry, the SVP and Chief Sustainability, Social Impact and Communications Officer at Scotiabank, says. “I’ve been able to realize mine in part by working with companies that are committed to doing good for the communities that they serve.”

Meigan says she discovered her desire to affect change at an early age through participation in student government. The experiences taught her confidence to use her voice and helped her uncover key issues she was passionate about. She also learned how to stay calm under pressure, weave a storyline to encourage engagement among followers, and communicate effectively. 

These are skills she now leverages every day in her role at Scotiabank. 

“My team plays a key role in that we align a multitude of stakeholders, inside and outside the Bank, to create positive outcomes for the communities that we live and work in. When we do our jobs well, that work helps to build pride in our employees while also making our customers feel proud that they bank with Scotiabank,” Meigan says. 

Upon joining the team in 2018, her first task was to solidify the organization’s purpose. The result was a singular focus that now acts as a “red thread” for the 190-year-old institution: for every future. “It works for the Bank on many levels. Collectively, we’re here to enable every future. We also need to be ready for every future, including pandemics, climate change and so much more. But on an employee level, it can be bespoke and personal to every Scotiabanker depending on the individual contribution you make every day for the Bank.”

From there, she played a leadership role in launching three of the company’s social impact programs: ScotiaRISE, Allyship, and the Bank’s Sustainability program.

“We live in a country that is welcoming, supportive, and so multicultural, but not all systems are set up to help all people thrive.”

ScotiaRISE is a 10-year, $500 million initiative to promote economic resilience among disadvantaged groups so they can actively and successfully take part in the economy. 

“We live in a country that is welcoming, supportive, and so multicultural, but not all systems are set up to help all people thrive,” Meigan says. “Communities face systemic challenges not just in Canada, but across Scotiabank’s footprint, and our ScotiaRISE initiative is designed to help remove these barriers and provide disadvantaged groups the support they need to participate fully in society and the economy. It works to open up opportunities and to help more people realize their potential across all the communities in which we operate.”

The Bank’s commitment to Allyship was developed in the wake of the murder of George Floyd, and the discovery of unmarked graves surrounding residential schools in Canada.

“We realized there was more to do to build employees’ understanding of the role they can play as allies and to ensure that all equity-deserving groups feel included at Scotiabank. We established a framework to ground our inclusion efforts: Listen, Educate, Act and Sustain, and a deliberate focus on enhancing our capabilities as allies,” Meigan says. 

Working with many partners across the Bank, Meigan’s team built the Allyship program with the help of experts from the Centre for Diversity, Inclusion, and Belonging at New York University and hosted an Allyship Summit for Change in January for 90,000 Scotiabank employees. Following the Summit, the team focused the Bank’s annual calendar of inclusion events on enabling employees to become better allies year-round. 

“Everyone can be an ally and everyone can benefit from allyship. That’s part of why our commitment to allyship works — it’s inclusive and supportive and a program that brings our winning teams together at their highest levels to advance our commitment to diversity, equity and inclusion,” she says. “We have to listen, get educated, and ask questions, so we can show up for one another in meaningful ways.”

Finally, Meigan and her team worked with partners across the bank to deliver Scotiabank’s Sustainability program. Addressing and mitigating the risks associated with climate change is the most important and pressing challenge for future generations but, she acknowledges, it can’t be done by one person, one company, or one government. It requires collaboration. Not only is Scotiabank committed to mobilizing $350 billion in climate-related capital by 2030, the Bank’s leaders also now work to ensure the business and their initiatives — from the clients they take on to the output within their buildings — will transition to net zero emissions. “Businesses can show up in a way that mitigates climate risk. We have to work together for everyone’s future.”

“There is an opportunity to make your own positive impact in everything you do, whether that’s in student government, parent council, or by volunteering for a committee at work.”

Prior to Scotiabank, Meigan’s dedication to purpose — ensuring others find theirs, living hers, and bringing it to an organization — made her a sought-after leader on an international level. She began her career as a director at Hill & Knowlton in London, UK, then moved to BlackBerry where she held marketing, communications, and corporate affairs roles across Europe, Middle East, Africa and Asia Pacific. She also worked alongside Sir Richard Branson as the Senior Vice President of Corporate Affairs and Communications at Virgin Atlantic Airways. 

Throughout her extraordinary career, Meigan says there are a few guiding principles that have helped her achieve success, both personally and professionally. 

“Look for the opportunity to make your own impact in every new task and challenge, and avoid being a skeptic by default. There is an opportunity to make your own positive impact in everything you do, whether that’s in student government, parent council, or by volunteering for a committee at work. People should never let fear hold them back. Fail fast and fail early. You’re only going to grow and learn so much.” 

The second is to believe in and support the success of others as though it is your own. “Nothing happens in silos,” Meigan notes. “Be an ally for someone else’s success and take people along with you in your own success. We don’t live in a zero-sum world and there is always more opportunity when we align together than we first realize alone.”

Finally, “be right at the end of the meeting, not the beginning,” she advises. “When it comes to partnership and collaboration, going in with an open mind is absolutely essential. If you use all of your energy to advocate for your own viewpoint without actively listening to those around you, you will miss out on key learnings and opportunities to do things bigger and better.”

And of course, “start with your purpose — it will be your guidepost for your big decisions and a powerful gauge for impact and accomplishments. That’s where you will make your mark.”

By Hailey Eisen

In late 2014, Laura Curtis Ferrera picked up the phone and made a cold call to Scotiabank.

Having had a rich and dynamic strategic marketing career with wealth management brands, Laura says she was eager to work with an international bank and was impressed with how Scotiabank interacted with Canadians and its customers.

“I had always thought the bank was optimistic, approachable, friendly, confident, and knowledgeable when interacting with its customers,” she says. “That’s what brought me to the bank and has kept me here ever since.”

Her cold call worked, and in February 2015, Laura was hired by Scotiabank into the role of SVP, Marketing. Her first job was to help launch the Scotia Wealth Management brand, which represented several of the bank’s wealth management businesses.

“When I came to the bank, I came in as a specialist in wealth management and asset management marketing. So even though I knew my craft and I had industry experience, the bank was exciting and new, and it was also mildly terrifying,” Laura says. “In my background, I have worked at start ups, family-owned businesses as well as large global companies. But coming to one of the largest banks and largest companies in Canada was a whole new challenge — operating in multiple cultures, in multiple languages, in multiple offices with a matrixed structure was largely new to me.”

Laura went on to add Global Business Banking and Canadian Retail Marketing to her repertoire prior to September 2020 when, in a significant career milestone, Laura was named Scotiabank’s Global Chief Marketing Officer. 

“When you ask what the highlight of my career has been, I have to say I’m living it right now,” Laura says. “To come to work every day and be the steward of the bank’s brand — that’s my bliss.”

“There’s now an enormous obligation for us as marketers to show up as a force for good.”

With a huge emphasis on not only marketing for growth but also marketing for good, Laura says she feels proud of the work she’s doing and the team she’s leading. Under Laura’s leadership, the marketing team at Scotiabank is focusing on advancing the bank’s global brand to be an inclusive ‘Bank of Choice’ — through everything from advertisements to partnerships. 

What’s changed the most over the past seven years, Laura says, is the focus on Diversity, Equity, and Inclusion. Not only internally — “we must walk the talk,” she says — but also in all aspects of marketing. 

“There’s now an enormous obligation for us as marketers to show up as a force for good,” she says. “Our focus is how we can help communities and society at large by ensuring we remove racial and gender stereotypes and biases and represent all Canadians in an authentic way. For us, it’s about using the power of our dollar to do things that are not just going to be promotional in nature, but actually helpful for the communities we serve.”

An example of one such program which Laura was instrumental in launching — and means a lot to her personally — is Hockey for All. A sponsorship and partnership program, Hockey for All aims to make “Canada’s game” more diverse, inclusive, and accessible to everyone, breaking down the barriers that stand in the way of true inclusion and diversity.

“What makes me especially proud is that it is a platform for consistent change with programming and funding and partnerships versus a campaign that merely highlights the problem,” Laura says. “I love that we are part of the solution in a long-term way. I believe that as marketers and bankers, it is our obligation to use our positions to be a force for good in society. And with Hockey for All and its Latin American equivalent, Everyone on the Field, I think we have accomplished something so special.”

The program involves everything from supporting and partnering with grassroots initiatives, funding community hockey leagues, mentoring young girls interested in hockey and supporting the Hockey Canada Foundation Assist Fund which makes the sport more accessible to Black and Indigenous youth and young People of Colour. 

“I wanted to eliminate the assumption that banks weren’t being good partners to women entrepreneurs.”  

Laura has also had the opportunity to work on the launch and roll out of The Scotiabank Women Initiative, which breaks down barriers to increase economic and professional opportunities for women now, and in the future. “One insight I had always found very troubling was that women were not going to banks when they needed to borrow money for new ventures — likely because they assumed they’d be turned down, even if that wasn’t the case,” Laura says. “I wanted to eliminate the assumption that banks weren’t being good partners to women entrepreneurs.”  

Through the program, Scotiabank has been able to create a community with outreach, mentorship, education, and funding — breaking down the problems women traditionally face and creating a program that solves for each of them.

From small business owners, to women running established companies, to executives looking to get onto boards, to those in receipt of large wealth transfers, Laura says the program hasn’t stayed in one lane, but rather works to respond to a variety of client needs.

“I love that the program has changed dramatically over the past few years and we keep adding to it,” she says. “This type of program makes me feel like I really have a purpose and value in the work I’m doing.”

Through Laura’s leadership, Scotiabank has also committed to the Association of National Advertisers (ANA) #SheHer mission which aims to increase accurate portrayals of women and girls in the media. The group developed the Gender Equality Measure (GEM) to track progress and the marketing effect of removing unconscious bias from content. Scotiabank is also a member of the Global Alliance for Responsible Media, a cross-industry initiative established by the World Federation of Advertisers to address the challenge of harmful content on digital media platforms and its monetization via advertising.

“I feel like I have a huge obligation to help communities be better off. And that goes beyond reflecting where we’re at now as a society. I don’t see why we can’t reflect the society we want to live in — the world we’d like to see.”

“As a bank, we are very critical of ourselves and our commitment to move beyond stereotypes in all of our marketing efforts when it comes to gender and race,” Laura says. “I feel like I have a huge obligation to help communities be better off. And that goes beyond reflecting where we’re at now as a society. I don’t see why we can’t reflect the society we want to live in — the world we’d like to see.”

One of the earliest lessons Laura learned after joining Scotiabank was, “in order to thrive in a large organization, you must find your people who make the large feel small,” she says. During the last few years of the pandemic, she says what she missed most was the camaraderie of these natural interactions. In fact, she believes the obstacles she faced during COVID were, in many ways, the most challenging of her career. Looking back, Laura says she’s learned a lot about herself as an individual and a leader. 

“I’ve come to the realization that I’m an extrovert, and while I used to think of myself as more of an introvert, I truly get joy from working with my marketing peers and partners,” she says. Finding this joy while working from home was actually harder for Laura than she expected it to be.

“My team was highly productive during the pandemic and they transitioned really well to working from home — but I’m not sure I did such a good job of it.”

In better understanding herself, Laura was able to make some changes and open some doors that may not have otherwise been opened.  “I’ve actually decided to go back to school — both as a student and as a teacher,” she says. As a student, she’s joining CMO’s from around the world for a 12-week Leadership Program through the Institute for Real Growth, and as a teacher, she’s been providing guest lectures for MBA schools across Canada on ‘metrics that matter.’ “Both of these came from the realization that I needed to do something to spark my curiosity and creativity,” she says. 

Beyond work, Laura has always followed her passion and committed time to causes and organizations that matter to her. She was a former director, and now a board member, of Hot Docs,  and currently volunteers with the Children’s Aid Foundation. As a mentor, she’s worked with Next Canada — completing what she refers to as “the triangle” of being a teacher, a student, and a mentor. A network of academics, entrepreneurs, investors, and founders, Next Canada has allowed Laura the opportunity to work with young entrepreneurs providing insight and support. “It feeds my soul,” she says.

Looking back, she says there was a time in her career when she felt selfish for wanting to be a marketer. “I envied those people in careers that were in service to others,” Laura recalls. “But, at this point in my career, I realize I can be a marketer and make a difference. It doesn’t have to be so binary, and I feel truly honoured and proud to be part of projects that continue to have real and lasting impacts.”

By Hailey Eisen

When Jackie Wang was 19, her father encouraged her to leave China and move to the United States for college — something that was far less common in the early 1990s than it is today. In order to get a visa to study in the US, Jackie had to secure a full scholarship, which she managed to do at a small college in Boston. 

As she was deciding if she had the courage to leave home, her father offered some sage advice: “If you choose to stay, what is in front of you is your world; but if you choose to leave, the world will be in front of you.” 

With that in mind, Jackie packed up two suitcases and took a leap. She’s been taking risks and making big moves ever since. 

After one semester at school in Boston, Jackie realized that she’d need to make a transfer in order to get the education and exposure required to secure a job in the US upon graduation. She got a partial scholarship to a more well-known school, the University of Houston, and then made a final transfer to complete her degree in Consumer Economics and Policy Management at Cornell University. 

From there, Jackie went on to work for Procter & Gamble (P&G), the Coca-Cola Company, and Rio Tinto — living in Ohio, Germany, Switzerland, Atlanta, Utah, and Montreal. In 2018, she moved to Toronto for a job with Scotiabank. In her role as Senior Vice-President & Chief Procurement Officer, she has been championing an overhaul of the Scotiabank procurement process to be more effective and inclusive — increasing diversity, and tackling bias.

“The higher up you are, the less it is about functional skills and the more it’s about people skills.” 

As a leader, Jackie is working on developing and nurturing soft skills — the skills that she believes real success comes from. “The higher up you are, the less it is about functional skills and the more it’s about people skills,” she says. “How you listen, communicate, build and manage relationships, resolve conflicts — all of these are critical for career success.” 

But she wasn’t always this confident in herself or where her career would lead her. Looking back, Jackie says none of her many pivotal career and life milestones were planned. Each one came about almost by chance — coupled with a lot of hard work — and led to the right experiences and opportunities to propel her forward.  

Her first job was the hardest to come by. “As an international student, options for work were limited. I was introverted, lacked confidence, and was competing with an outstanding group of Ivy League classmates,” she recalls. “I didn’t fit the profile of a consultant — so that wasn’t an option.”

Jackie’s boyfriend at the time (now her husband) had interned at P&G as an engineer the summer prior to her graduation, and he’d loved the work and culture. There were two jobs with P&G that Jackie applied to, one in sales and one in procurement. 

“I knew nothing about procurement, but it was the first job I was offered, and so I accepted it.” Little did she know that this decision would lead to a rich and diverse career in the field. At the time, she was glad to have a job.  

“While I prayed that my assignment would be in marketing procurement, the job P&G offered me was in chemical procurement,” explains Jackie. “As an economics major who chose to go into arts instead of sciences because of my inability to excel at chemistry and physics, suddenly I was in charge of buying chemicals for billion-dollar brands.” 

“As an economics major who chose to go into arts instead of sciences because of my inability to excel at chemistry and physics, suddenly I was in charge of buying chemicals for billion-dollar brands.”

The learning curve was huge, but turned out to be exactly what Jackie needed. “There could not have been a better category to learn about strategic sourcing than chemicals, which was a dynamic and challenging market with dominant suppliers and complex supply chains. It was also a white male-dominated industry — which posed many challenges and taught me a lot.” 

It also prepared her for the work that was to come. Today, with a focus on unconscious bias and diversity, she draws upon those early experiences, and others she’s had throughout her career as a Chinese woman and a new American — often the only one at the table. 

For 14 years Jackie worked for P&G and honed her skills to become a strategic sourcing professional. From chemical procurement she moved into the team that launched the Swiffer brand, and had two international assignments in Europe which helped provide a more diverse perspective and leadership style. 

A few years in, Jackie was asked to take on the role of Global Fabric and Home Care Supplier Diversity Manager. When her VP approached her with the position, she already had a full-time role, and he asked her to take this one on as well. “It was essentially two full time positions, but I didn’t know how to say no, so I said yes,” she recalls. “In two years I doubled our chemical supplier diversity spend and received many awards.”

Her success in that double assignment, Jackie says, led to her advancement into a director role, just six years after graduating from college. In 2012, Jackie made another big move to join the Coca-Cola Company in Atlanta, and after a few years in this role, she joined the global mining company, Rio Tinto where she stayed until she was recruited to join Scotiabank. “While I loved the challenges and opportunities afforded to me in that last job, I was struggling with the company culture. When I was approached about leading Scotiabank’s global procurement services, I was excited.”

Jackie is now accountable for the bank’s worldwide acquisition of externally purchased products and services, with a focus on enterprise-wide strategic sourcing, expense reduction, category management, supplier management, and third-party operational risk management. 

“Each and every one of us has a role to play in being a steward of the environment and the community we live in. Procurement can impact environmental stewardship, social inclusivity, and governance.”

One of her key focuses has been to re-engineer the procurement process and approach by developing a best-in-class responsible procurement program. “Responsible procurement ensures that the products and services we buy have the lowest environmental impact and the most positive social results,” she says. 

This is something that’s very important to Jackie. 

“Each and every one of us has a role to play in being a steward of the environment and the community we live in,” she says. “Procurement can impact environmental stewardship, social inclusivity, and governance.” 

In fall 2021, Scotiabank launched a new Supplier Diversity Program under Jackie’s leadership. In the three years prior, her team assessed the Bank’s procurement spending to inform the development of the program which helped the Bank to better understand its business relationships with companies owned and led by Indigenous Peoples, members of the LGBT+ community, People of Colour, and women, which in turn enabled it to identify potential suppliers for inclusion in future sourcing initiatives. 

As a result of these assessments, the Bank has designed its Supplier Diversity Program to improve access to procurement opportunities by addressing sourcing, partnerships, outreach, monitoring, and metrics for diverse suppliers. That includes engaging with potential diverse suppliers to build a database in order to introduce them to procurement initiatives where possible. Importantly, the Scotiabank supplier management program enables suppliers to not only get a foot in the door, but continue to develop and partner with Scotiabank to achieve long term sustainable successes.  

“Look around at the country we’re living in,” she continues. “This is the most diverse country I’ve lived in and the most diverse environment I’ve worked in. If our business practices don’t reflect the customers we serve, they’ll leave us. Who wants to do business with an organization that doesn’t support and reflect their community?” 

It’s an exciting time for Jackie to be focusing on something she’s so passionate about. She approaches her work with a focus on unconscious bias, something that’s been top of mind for years. 

“It’s a behaviour change, above all else,” she explains. “When evaluating a supplier, don’t just look at how established they are, when evaluating an individual don’t judge them only by their experience — read the potential. Don’t always look for familiarities or information and data that supports your prior beliefs — always consider the other side, or the other opinion, and ask yourself, ‘what if.’” 

By Hailey Eisen

Having worked in the financial services sector for 30 years, Alida Pellegrino is familiar with the biases that women have traditionally come up against — both in the workplace and as business owners. 

“During the more than 20 years that I was a commercial banker, I would say that 80 per cent of the businesses I interacted with were led by men,” she says. “But things are definitely starting to change, and that’s why The Scotiabank Women Initiative is so important to me.” 

Alida has been helping to address the challenges women face in her current role as Vice President, Credit Adjudication Canada at Scotiabank, and as an advisory board member with The Scotiabank Women Initiative. Providing information, education, and financing, The Scotiabank Women Initiative is committed to dismantling barriers for business owners who identify as women or non-binary, empowering them to take their businesses, careers, and financial futures to the next level. 

“Gillian Riley, President & CEO of Tangerine Bank and Founder of The Scotiabank Women Initiative, created the program after learning first-hand about some of the challenges that women experience when starting their own businesses. For example, it is more challenging for women to access capital than their male counterparts, and she wanted to help women overcome those barriers,” Alida says. “Because I oversee Scotiabank’s small business loan adjudication team, we are able to help small business owners meet their financing needs through assessing loan applications.” 

“Oftentimes, entrepreneurs have a passion, and they jump right in with the resources they have available to them. It’s not until they realize they are ready to grow and need more money to do so that they truly think about finances.” 

Alida personally provides financial education to The Scotiabank Women Initiative clients, and always stresses that a solid understanding of your finances is a critical factor for long-term business success. 

“We know that business owners are typically experts in their trade but having a good handle on your finances is also an essential part of running a successful business,” she says. “Oftentimes, entrepreneurs have a passion, and they jump right in with the resources they have available to them. It’s not until they realize they are ready to grow and need more money to do so that they truly think about finances.” 

If it’s an area you’re unsure of, she adds, there are many simple steps to take to get more comfortable with and take charge of your finances. 

“The very first step is to understand your cash flow,” Alida says. That includes knowing what you’re spending and bringing in each month and following a budget to support the financial management of your business. She also advises that entrepreneurs understand the seasonality of their business, and how that impacts cash flow and to plan for it. 

“I’ll give you an example,” Alida says. “Ramping up for the holiday season, a company producing a product has to buy inventory and start production a few months or quarters in advance— but they won’t have the cash flow from the sales of those products until November or December. Also, to take advantage of other sources of financing such as trade credit from your suppliers which female entrepreneurs tend to shy away from” 

“Remember, it’s ok not to know. It’s those areas of uncertainty where you can really leverage other professionals to support you along the way.” 

For clarification of your financial needs, you must also be able to identify what stage your business is in — start-up, sustainment, or growth — and how you should support it at each stage. Unsure? When it comes to finances, the more questions you ask and information you seek, the better. This is where a relationship with your accountant and banker can be especially beneficial, Alida advises. 

“Knowledge is power. Don’t just meet with your accountant once a year to prepare your financials,” she says. “Befriend them so you can leverage their counsel throughout the year. The same goes for your banker.”

Alida’s favourite part of working in commercial banking over the years was getting to know her clients, learning their stories, and working with them through their challenges and successes- there are few jobs in the world where a business owner shares their trade secrets, info about their clients, suppliers and industry. “As a business owner, you can confide in your banker, tell us about your business and your plans, and we can assist you with your needs and wants and ensure we are a key partner in your success.” 

If you’re hesitant to ask questions, “Remember, it’s ok not to know,” says Alida. “It’s those areas of uncertainty where you can really leverage other professionals to support you along the way.” 

Relationships, in general, are also key to business success, and networking is something Alida advises all women entrepreneurs to spend more time doing. That’s one area The Scotiabank Women Initiative can really help with, she adds. 

“We’ve been able to bring like-minded women together who might not have had the opportunity to connect — in person or virtually — and talk about their challenges, what’s working and what’s not, and build that network which can often prove invaluable,” Alida says. “Through workshops and education, mentorship opportunities, and networking, so far we’ve engaged more than 6,000 women entrepreneurs across the country.”  

Providing access to capital and tailored financial solutions is another key focus of The Scotiabank Women Initiative, and since its inception three years ago, more than $3 Billion in capital has been deployed to women-owned and women-led businesses in Canada. Now, that help is needed more than ever. 

“Women-led businesses already face unique challenges, but the COVID-19 pandemic and the ripple effect on the economy has put added pressure on women entrepreneurs,” says Alida. “In order for the Canadian economy to grow, we need to support all types of businesses, led by a diverse group of entrepreneurs, because diversity of thought is where true success comes from.” 

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