Source: The Canadian Press

Former Bank of Canada governor David Dodge has been nominated to join the Bank of Nova Scotia (TSX:BNS) board of directors, the bank said Monday.

In its management proxy circular, the bank said Dodge will stand for election at its annual meeting on April 8 in St. John’s, Nfld.

The former central banker stepped down as the head of the Bank of Canada in 2008.

Before joining the central bank, Dodge held senior positions in several government departments including deputy minister of Finance and deputy minister of Health.

Dodge is currently chancellor of Queen’s University and a senior adviser at law firm Bennett Jones LLP.

The bank also reported Monday that chief executive Rick Waugh was paid a total of $9.7 million in direct compensation last year, up from $7.5 million in 2008.

Waugh’s compensation included a salary of $1 million, $3.6 million in shares, $3.6 million in options and a bonus of $1.5 million that he elected to receive as deferred share units.

That compared with a salary of $1 million, $3 million in shares, $3 million in options and a bonus $500,000 that was taken in shares in 2008.