Laurentian Bank announces Yvan Deschamps will succeed Francois Laurin as CFO

The Banque Laurentienne or Laurentian Bank logo is seen in Montreal on June 21, 2016. THE CANADIAN PRESS/Paul Chiasson

The Laurentian Bank of Canada has announced that Yvan Deschamps will assume the position of executive vice president and chief financial officer as of April 6. 

Deschamps succeeds François Laurin; the bank explaining that Lauren wished to retire at the next annual general meeting.

Laurin will work with Deschamps to ensure a smooth transition.

Rania Llewellyn, president and CEO of Laurentian Bank since last fall, said in a news release that thanks to Laurin's leadership, the institution has maintained a solid position in terms of capital and liquidity.

Deschamps has over 25 years of experience in management positions in the finance and corporate development sectors. He joined Laurentian Bank in 2016.

Last month, Laurentian Bank reported better-than-expected earnings for its fourth quarter, even though it was down from the same period last year.

It made a profit of $36.8 million, or 79 cents per share, for its quarter ending Oct. 31, compared to earnings of $41.3 million, or 90 cents per share, for the same quarter in 2019.

Analysts on average expected an adjusted profit of 73 cents per share, according to forecasts collected by financial data firm Refinitiv. 

-- this report by The Canadian Press was first published Jan. 8, 2021.

SIGN UP NOW

Stay up-to-date and in-the-know by subscribing to one of our newsletters