National Bank of Canada Announces Changes to Senior Leadership Team

MONTREAL, Jan. 26, 2023 /CNW Telbec/ - National Bank of Canada (the "Bank") (TSX: NA) today announced that Martin Gagnon, Executive Vice-President, Wealth Management, as well as Co-President and Co-Chief Executive Officer of National Bank Financial, will retire from the Bank effective April 1, 2023. Upon Martin's retirement and until his successor is named, Denis Girouard, currently Executive Vice-President and Co-Head, Financial Markets, will lead Wealth Management on an interim basis. Étienne Dubuc is appointed sole Head of the Financial Markets group.

"Under Martin's leadership, our Wealth Management business experienced significant growth.  During his tenure, which began in 1987, Martin built a solid team, further cementing the franchise as a key growth pillar for the Bank. On behalf of the Senior Leadership Team and the Board, I would like to sincerely thank Martin for his outstanding contributions throughout his career with the Bank," said Laurent Ferreira, President and CEO of National Bank.

Since joining the Bank 33 years ago, Denis Girouard, an industry veteran and reference in the fixed income space, has been instrumental in growing the Financial Markets division which he has co-led since 2016. Under his stewardship, the Bank has notably positioned itself as the leader in government debt underwriting in Canada for over 10 years.  "Denis' extensive experience with the Bank and in capital markets will benefit the Wealth Management group greatly, building on the existing strong legacy of collaboration and synergies between both sectors during this leadership transition," added Laurent Ferreira.

Étienne Dubuc has been with the Bank and Financial Markets for 25 years where he has held increasingly senior roles and spearheaded the build of several businesses, notably option and ETF market-making, as well as structured products issuance and trading. During his tenure, his team's extensive and unique expertise has secured National Bank's leadership position in these segments in Canada. Étienne joined the Senior Leadership Team in November 2022 upon his appointment to the role of Executive Vice-President and Co-Head of Financial Markets.

"As the architect of our equities business, Étienne has also been instrumental in building the Bank's technology platform in Financial Markets. With a client focus, innovation and risk management at its core, this in-house build has been a key success factor in our trading business and a strong reflection of the Bank's entrepreneurial culture. Étienne's leadership and ability to collaborate with all Bank sectors has contributed greatly to our collective success," concluded Laurent Ferreira.

About National Bank of Canada
With $404 billion in assets as at October 31, 2022, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. The Bank has more than 29,000 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 nbc.ca or via social media such as Facebook, LinkedIn and Twitter.

SOURCE National Bank of Canada

Linda Boulanger, Senior Vice-President - Investor Relations, National Bank of Canada, Tel.: [phone]; Debby Cordeiro, Senior Vice-President - Communications and Corporate Social Responsibility, National Bank of Canada, Tel.: [phone]