Management changes at National Bank Financial Group

Montreal, 31 August 2006 - 

National Bank is pleased to announce the appointment of Ricardo Pascoe and Luc Paiement as Co-Presidents and Chief executive officers of National Bank Financial Group (NBFG).

Based in Toronto, Ricardo Pascoe will be primarily responsible for all activities related to institutional equities and fixed-income securities, derivatives, U.S. operations and treasury.

An internationally recognized expert on derivatives, Mr. Pascoe previously worked in London and New York.  Throughout his career, he has developed a thorough knowledge of risk management coupled with unparalleled skill in creating and developing innovative and high-performing financial products.   He has a Master’s degree in economics from Columbia University and an MBA from the University of Western Ontario and has been with National Bank since 2003 as Senior Vice-President, Treasury and Financial Markets.

Luc Paiement, for his part, will be based in Montreal, where he will be primarily responsible for retail brokerage services, Corrnet, Corporate Banking, Investment Banking and Research.  

Mr. Paiement  has been with National Bank Financial (NBF) for close to 25 years, taking on a variety of strategic positions, both in the brokerage sector, institutional equities and corporate finance.  Known for his strong motivational skills, his achievements have helped NBF evolve as a truly national financial services company.  Mr. Paiement has been President, Individual Investor Services since 2002, leading a team of 750 investment advisors in 86 branches across Canada.  He has a Bachelor’s degree in commerce from Concordia University and was named a member of the Globe and Mail’s prestigious Top 40 under 40 in 1999.

Both Co-Presidents will share duties related to corporate development, compliance, administration and human resources.  The appointments take effect on September 4, 2006.  Mr. Paiement and Mr. Pascoe will both report to Louis Vachon, Chief Operating Officer, National Bank, and will sit on the Bank’s Executive Committee.

We are certain that these appointments will allow National Bank Financial Group to further enhance its role as an industry leader in Canada and meet its strategic objectives. 

About the National Bank of Canada
National Bank of Canada is an integrated group which provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. The National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has close to $109 billion in assets and, together with its subsidiaries, employs 17,183 people. The Bank’s securities are listed on the Toronto Stock Exchange (NA:TSX). For more information, visit the Bank’s website at
www.nbc.ca
.

Information (The telephone number provided below is for the exclusive use of journalists and other media representatives):

Denis Dubé
Senior Director – Public Relations
National Bank of Canada
Tel.: (514) 394-8644