MONTREAL, Jan. 21, 2015 /CNW Telbec/ - Laurentian Bank of Canada President and Chief Executive Officer, Réjean Robitaille today announced his intention to retire as President and CEO, effective November 1st, 2015. The process of ensuring a successor is currently underway with results to be announced shortly by the Board of Directors.
"Under Réjean's leadership, Laurentian Bank has had a remarkable growth and positioned itself as an important niche player in Canada. It has doubled its size and had eight consecutive years of record profitability, while at the same time increasing its dividend by 86%. Réjean leaves us an important legacy, a solid Bank and a talented team" said Isabelle Courville, Laurentian Bank Chair of the Board.
"After thoughtful considerations, I came to the decision that it was the appropriate time to announce my retirement. Laurentian Bank is in excellent financial health and stronger than ever. Although we have been faced with numerous challenges during the last few years, we have been able to adapt to this new and difficult environment and continue to perform well, thanks to the dedicated hard work of all of our employees. I look forward to supporting the Board and my successor during the transition period to ensure the Bank's continued success in the future" said Rejean Robitaille.
About Laurentian Bank
Laurentian Bank of Canada is a banking institution whose activities extend across Canada. Recognized for its excellent service, proximity and simplicity, the Bank serves one and a half million clients throughout the country. Founded in 1846, the Bank is among the 2014 edition of the Montréal's Top Employers competition, which showcases the city's top 25 companies offering enviable places to work. It currently employs more than 3,600 people whose talent and dedication has made it a major player in numerous market segments.
Laurentian Bank distinguishes itself through the excellence of its execution and its agility. Catering to the needs of retail clients via its extensive branch network and constantly evolving virtual offerings, the Bank has also earned a solid reputation among small and medium-sized enterprises, larger businesses and real estate developers thanks to its growing presence across Canada and its specialized teams in Ontario, Québec, Alberta, British Columbia and Nova Scotia. For their part, B2B Bank is a Canadian leader in providing banking and investment products and services to financial advisors and brokers, while Laurentian Bank Securities is an integrated broker widely known for its expert and effective services nationwide. The Bank has more than $34 billion in balance sheet assets and more than $41 billion in assets under administration.
SOURCE Laurentian Bank of Canada