Bank restructures executive leadership amid organizational consolidation
Laurentian Bank of Canada has announced a major reorganization of its executive team as part of a broader effort to “simplify its structure” and “improve operational efficiency.”
Among the key appointments, Thierry Langevin, currently executive vice president of commercial banking, will take on the role of group head, personal and commercial banking.
This move consolidates both personal and commercial banking under a unified leadership, which the bank believes will "create synergies between its teams and offer a harmonized, more efficient customer experience."
Marie-Christine Custeau, head of strategy and transformation, will expand her responsibilities to include digital experience and payments. The bank said the adjustment is intended to accelerate its digital transformation – a core pillar of its long-term strategy. According to the bank, Custeau's expanded role will "support innovation and bolster the company's customer-centric approach."
Additionally, chief human resources officer Macha Pohu will now also oversee corporate and legal affairs, assuming the new title of head of human resources and corporate affairs. The integration of these departments is designed to "optimize talent management" and ensure strong governance across legal functions.
The bank has also expanded the role of Christian De Broux, EVP and chief risk officer, who will now manage the compliance teams as well. Laurentian Bank stated that this move will "strengthen the risk management structure" while providing integrated oversight of both risk and compliance functions.
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As part of the restructuring, Laurentian Bank has announced the departures of two senior executives: Sébastien Bélair, EVP and chief operating officer, and Bindu Cudjoe, EVP, chief legal officer, and corporate secretary.
“The bank would like to express its gratitude to Mr. Bélair and Ms. Cudjoe for their leadership, dedication and outstanding contributions to the success of the organization,” the bank said in a statement.
“These organizational adjustments are part of a broader process aimed at simplifying the Bank's structure and better aligning its resources with the objectives defined in its strategic plan. Laurentian Bank remains firmly committed to pursuing its efforts to deliver exceptional value to its customers, while optimizing its operational performance.”
Headquartered in Montréal, Laurentian Bank serves customers across Canada and the US. The bank manages $47.5 billion in balance sheet assets and $26.9 billion in assets under administration, with a workforce of approximately 2,800 employees.
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