[3] In 2007, he was appointed by government officials to offer his views at summit talks regarding business prospects in Latin America.
[6] During his tenure the bank experienced growth, in addition to the impact of fraud allegations during its efforts at international expansion.
According to the Globe and Mail, Waugh was considered successful at increasing his bank's profit margin, however, "He has been dubbed a micro-manager who put a lot of pressure on his top lieutenants, with one source describing his management style as "bad parenting".
In 2018, several of the faculties and students associations at York issued votes of non-confidence in his leadership during a lengthy teachers strike.
He holds an MBA and an Honorary Doctor of Laws degree from York University's Schulich School of Business.