Press Releases

Luc Paiement to head Wealth Management Group at National Bank Financial Group

Montreal, 29 February 2008 -

As part of the deployment of its wealth management business strategy, the National Bank Financial Group is announcing a major organizational change.

The Wealth Management Group will now report to Luc Paiement, currently co-president and co-CEO of National Bank Financial (NBF). This reorganization should result in greater alignment in the development of products and services for this client segment.

In addition to his current responsibilities, Mr. Paiement and his team will be in charge of presenting the President’s office with innovative strategies for the area of wealth management.

“This change is the first step in a reorganization that will enable us to reach our One client, one bank objective to promote an integrated offering that includes individual customers, corporate services and NBF,” said Louis Vachon, National Bank’s president and CEO. Natcan Investment Management, headed by Pascal Duquette, will also report to Mr. Paiement.

As co-president and co-CEO of National Bank Financial since September 4, 2006, Luc Paiement is responsible primarily for Retail Brokerage, the Correspondent Network, Corporate and Investment Banking, and Research. He became a member of the National Bank President’s Office on June 1, 2007.

In a career spanning more than 25 years with National Bank Financial, Mr. Paiement has held a variety of strategic positions in brokerage services, institutional equities and corporate finance. As president, Individual Investor Services, from 2002 to 2006, he was responsible a team of 750 investment advisors at 86 branches across Canada.

He began his career in 1981 as an investment advisor with Lévesque Beaubien (which, following a number of mergers, became National Bank Financial). Four years later, he became branch manager.

Mr. Paiement holds a bachelor’s in commerce from Concordia University and, in 1999, was named one of the Globe and Mail’s prestigious Top 40 under 40. He serves on the boards of National Bank Financial & Co. and National Bank Direct Brokerage Inc.

About 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 more than $120 billion in assets and, together with its subsidiaries, employs 16,856 people. The Bank’s securities are listed on the Toronto Stock Exchange (NA:TSX). For more information, visit the Bank’s website at

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

Denis Dubé
Director, Public Relations Department
National Bank of Canada
Tel.: 514-394-8644