MONTRÉAL, April 23, 2015 /CNW Telbec/ - Mr. Réjean Robitaille, President and CEO of Laurentian Bank, announced today that Mr. Michel C. Lauzon, Executive Vice-President and Chief Financial Officer of the Bank, will retire, effective August 1, 2015. Mr. Lauzon has held this position since January 5, 2009.
Mr. Lauzon has devoted the majority of his career to the financial and banking sector. He joined Laurentian Bank in 1988 for an initial period of 10 years, during which he occupied different positions in the areas of product management and treasury. He returned to the Bank in 2009 as Executive Vice-President and Chief Financial Officer.
"I would like to extend my sincere gratitude to Michel for his significant contribution to the Bank during his 16 years with us," underlined Mr. Robitaille. "His support of the organization's efforts to solidify its foundations was most strategic in this period of growth and profitability enhancement, at a time when we were seeing one of the greatest financial crises and increasingly demanding regulatory requirements. I would also like to salute Michel's rigour and high level of integrity. His retirement is certainly well-deserved, and I hope that he will enjoy it to the fullest."
The announcement of Mr. Lauzon's successor will be made in the coming months to allow for a period of transition. In accordance with the Bank's succession plan, the selection process will be conducted both internally and externally.
About Laurentian Bank
Laurentian Bank of Canada is a banking institution whose activities extend across Canada. The Bank serves one and a half million clients throughout the country and employs more than 3,700 people whose talent and dedication have made it a major player in numerous market segments. The Bank has over $37 billion in balance sheet assets and more than $42 billion in assets under administration.
Laurentian Bank distinguishes itself through the excellence and simplicity of its services. It caters to the needs of retail clients via its branch network and virtual offerings and has also earned a solid reputation among small and medium-sized enterprises and real estate developers thanks to its specialized teams across Canada — namely 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 the expertise and effectiveness of Laurentian Bank Securities' integrated brokerage services are known nationwide.
SOURCE Laurentian Bank of Canada