MONTREAL, Dec. 20,
2024 /CNW/ - National Bank (the "Bank")
today announced the following senior leadership appointments in
line with the Bank's strategic vision and accelerated growth in
select markets, taking into account the context of the previously
announced acquisition of Canadian Western Bank (CWB).
Michael Denham, Executive
Vice-President, Commercial and Private Banking 1859, has been
appointed Executive Vice-President and Vice-Chair, effective
March 1, 2025. In this new capacity,
Michael will be responsible for leading the integration of CWB and
providing counsel to the CEO and Senior Leadership Team on
strategic decisions and business opportunities to enhance the
Bank's performance and competitive position. Michael will remain a
member of the Senior Leadership Team, reporting to Laurent Ferreira, President and CEO.
Michael joined National Bank in 2021, having previously held the
role of President and CEO of BDC (Business Development Bank of
Canada). Under his leadership, the
Bank's commercial and private banking businesses have benefited
from sustained momentum and growth across Canada.
Judith Ménard, Head of National Accounts, Canada, and Senior Vice President, Commercial
and Private Banking 1859, British
Columbia, Prairies, Ontario
and Atlantic Canada, will succeed
Michael Denham as Executive
Vice-President, Commercial and Private Banking 1859, effective
March 1, 2025. Judith will join the
Senior Leadership Team, reporting to Laurent Ferreira.
Judith joined the Bank in 1998 and has held a succession of
leadership roles in Wealth Management, Financial Markets, Personal
and Commercial Banking, and in Risk and Compliance. In her new
capacity, Judith will be responsible for developing strategic
orientations, advancing the client experience and overseeing all
commercial and private banking products and services across
Canada.
"I am pleased with these two nominations, which reflect our
growth ambitions in Canada.
Michael's leadership has been key in the integration of our
commercial and private banking segments. His deep knowledge of the
Canadian business landscape makes him exceptionally qualified for
this role, as we prepare to bring together two complementary banks
and capture the significant opportunities ahead across the country.
Meanwhile, Judith's strategic vision, unifying leadership style and
proven success in expanding the Bank's commercial and private
banking model beyond Québec make her ideally suited to lead these
segments across the country, which is core to our continued
domestic growth," said Laurent
Ferreira.
Dominic Paradis, Senior
Vice-President, Legal Affairs and Corporate Secretary, has been
promoted to the position of Executive Vice-President and General
Counsel, effective March 1, 2025,
joining the Senior Leadership Team and reporting directly to
Laurent Ferreira. At the Bank since
2003, Dominic has played a pivotal role in overseeing the Bank's
legal strategy and corporate governance.
"After years of close collaboration, I am pleased to welcome
Dominic to the Senior Leadership Team. In his elevated capacity,
the team will further benefit from his skilled counsel and
strategic insights, supported by his deep governance expertise and
industry knowledge," added Laurent
Ferreira.
In addition to the above Senior Leadership Team appointments,
the Bank also announced the following executive changes:
After seven years of service at National Bank, Stéphane
Achard, Executive Vice-President, International and
responsible for ABA Bank, will retire on April 30, 2025. During his tenure, Stéphane has
successfully led our commercial and private banking segments,
notably strengthening the Bank's position as a bank for
entrepreneurs, prior to leading its international activities since
2023.
Upon Stéphane's retirement, William
"Bill" Bonnell, strategic advisor to the CEO, will oversee
the Bank's international investment activities, namely ABA Bank.
Bill joined the Bank in 2001, bringing international experience,
and has held a succession of leadership roles.
"Stéphane has made a lasting impact on National Bank and the
broader business community with his engaging leadership and
dedication to clients. I extend my gratitude for his contributions
and wish him the very best in his well-deserved retirement. I also
look forward to continuing to work closely with Bill and benefit
from his deep knowledge and understanding of our international
activities. Bill has worked closely with ABA Bank and its
management team since our initial investment in 2014, and is
well-appreciated by our international partners," concluded
Laurent Ferreira.
Caution Regarding Forward-Looking
Statements
This press release includes certain
forward-looking statements. These statements are inherently subject
to significant risks, uncertainties and changes in circumstances,
many of which are beyond the control of National Bank. Except as
required by law, National Bank does not undertake to update any
forward-looking statements, whether written or oral, that may be
made from time to time, by it or on its behalf. The forward-looking
information contained in this press release is presented for the
purpose of interpreting the information contained herein and may
not be appropriate for other purposes.
About National Bank of Canada
With $462 billion in assets as at
October 31,
2024, National Bank of Canada is one of Canada's six systemically important banks. The
Bank has approximately 30,000 employees in knowledge-intensive
positions and operates through three business segments in
Canada: Personal and Commercial
Banking, Wealth Management and Financial Markets. A fourth segment,
U.S. Specialty Finance and International, complements the growth of
its domestic operations. Its securities are listed on the Toronto
Stock Exchange (TSX: NA). Follow the Bank's activities
at nbc.ca or via social media.
SOURCE National Bank of Canada