OTTAWA (dpa-AFX) - National Bank of Canada (NA.TO) announced Wednesday that President and Chief Executive Officer Louis Vachon intends to retire on October 31, 2021, after nearly 15 years in the role.
Concurrently, the Board of Directors announced that Chief Operating Officer Laurent Ferreira will succeed him as President and CEO, effective November 1, 2021, in accordance with the Bank's succession plan.
Ferreira, who was appointed as COO in February 2021, has held key leadership roles in Financial Markets over his 23 years with National Bank. Since 2019, he has also been co-managing the Bank's transformation. He had served as Executive Vice-President and Co-Head - Financial Markets since November 2018.
Ferreira began his career in 1996 at Bankers Trust and joined the Bank in 1998, where he has held a series of management positions in its subsidiaries from January 2015 to November 2018.
Vachon has been President and CEO of the Bank since June 2007. He began his career in 1985 with Citibank Canada and in 1986 joined Lévesque Beaubien Geoffrion Inc., now National Bank Financial Inc., where he served as Vice-President until 1990.
From 1990 to 1996, Vachon was employed by BT Bank of Canada, the Canadian subsidiary of Bankers Trust, where he served as President and Chief Executive Officer from 1994 to 1996.
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