National Bank Announces Updates to its Senior Leadership Team

Montreal, March 1, 2023

National Bank today announced changes to its Senior Leadership Team in support of delivering on its strategic plan and priorities. These changes underpin the Bank’s vision for growth and accelerated expansion in select markets and business segments. 

Ghislain Parent, currently Executive Vice-President – International, will retire on October 1, 2023, after 13 years at the Bank, including 10 as Chief Financial Officer, and more than three decades in financial services. “Ghislain has played an invaluable role in the Bank’s success and performance through the years, notably in the evolution of our strategic planning, achievement of solid financial results and oversight of our subsidiaries Credigy and ABA Bank,” said Laurent Ferreira, President and CEO.

In the context of Ghislain’s retirement, Credigy will return under the stewardship of the Financial Markets group led by Étienne Dubuc effective immediately. Furthermore, Stéphane Achard, currently Executive Vice-President and Co-Head – Commercial and Private Banking, will transition from his current role to take on the leadership of our international investment activities, namely ABA Bank.

“As a seasoned banking veteran and champion of the business community, Stéphane is known for his engaging leadership, unparalleled dedication to his clients and collaborative spirit; he will be an asset in supporting ABA Bank’s growth. During his tenure, the Bank’s commercial business more than doubled its contribution to the Bank, solidifying our position as a bank for entrepreneurs, by entrepreneurs,” added Laurent Ferreira.

Michael Denham, currently Vice-Chairman, Commercial Banking and Financial Markets, is appointed Executive Vice-President and Head of Commercial and Private Banking effective June 1, 2023. Michael joined the Bank a year and half ago with an impressive track record as a leader of people and businesses. Most recently, Michael was President and CEO of BDC (Business Development Bank of Canada), where he was instrumental in doubling the commercial franchise in Quebec and across Canada, advocating for small and medium-size business owners, and supporting the growth of entrepreneurs at every stage and across various industries. Prior to that, he held senior executive roles based in Montreal, including at Accenture, where he was President and CEO for Canada, CGI, Bombardier, and McKinsey.

"I look forward to continue working with Michael on our pursuit to capitalize on our strong position in Quebec while accelerating our expansion in the rest of Canada, further enhancing the synergies created by the Commercial and Private Banking collaborative model formally implemented last year, to the benefit of our clients and our team,” concluded Laurent Ferreira.

Caution Regarding Forward-Looking Statements
This press release includes certain forward-looking statements. These statements are inherently subject to significant risks, uncertainties and changes in circumstances, many of which are beyond the control of National Bank. Except as required by law, National Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time, by it or on its behalf. The forward-looking information contained in this press release is presented for the purpose of interpreting the information contained herein and may not be appropriate for other purposes.

About National Bank of Canada
With $418 billion in assets as at January 31, 2023, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. It has more than 30,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank’s activities at or via social media such as Facebook, LinkedIn and Twitter.


Linda Boulanger

Senior Vice-President, Investor Relations
National Bank of Canada

Debby Cordeiro

Senior Vice-President, Communications and Corporate Social Responsibility
National Bank of Canada