National Bank announces executive appointments

MONTREAL, June 1, 2016 /CNW Telbec/ - National Bank today announced two appointments to its Office of the President executive team. These changes will ensure faster delivery and leveraging of business initiatives already underway by taking greater advantage of the Bank's agility, talent and digital technology.

Ricardo Pascoe, Executive Vice-President – Financial Markets, has been named Chief Transformation Officer and Executive Vice-President – Strategic Initiatives Office. Denis Girouard, Deputy Head of Financial Markets and Co-Head and Managing Director of Fixed Income, will succeed Mr. Pascoe as Executive Vice-President – Financial Markets. As is the case for all members of the Office of the President, they will report to Louis Vachon, President and Chief Executive Officer, with immediate effect.

"I would like to congratulate Ricardo and Denis on their appointment. The newly-created function of Chief Transformation Officer will ensure our projects are integrated even more effectively at a time of rapid change, both in our industry and those of our clients. Ricardo has been an excellent leader during his 13 years at the Bank, making him the ideal candidate for this mandate. Denis is also extremely well-positioned to succeed Ricardo as the Head of Financial Markets, having gained 28 years' experience within the sector," stated Louis Vachon.

Mr. Pascoe joined National Bank in 2003 as Senior Vice-President – Treasury and Financial Markets and was appointed Executive Vice-President – Financial Markets in 2008. This sector has since recorded strong growth in its activities, positioning it as a Canadian leader in various fields of expertise. National Bank now has top trading floors in Montreal, Toronto and Calgary as well as the largest floor in Quebec. Under Mr. Pascoe's leadership, the Financial Markets sector has also optimized processes to better meet client needs and achieve higher integration of its activities.

Prior to joining National Bank, Mr. Pascoe held various strategic executive positions in London and New York within international financial institutions specializing in capital markets, derivatives and portfolio management. He was also ranked among the "10 most influential Hispanic Canadians" in 2015.

Mr. Girouard has in-depth knowledge of the Financial Markets sector and its activities. Under his stewardship, National Bank has notably positioned itself as a leader in government financing in Canada. In addition, Mr. Girouard is widely respected by policymakers who seek out his views on financial market developments.

As part of his new mandate, Mr. Pascoe will continue to oversee the Credigy and Innocap subsidiaries.

Forward looking information
This press release includes certain forward-looking statements. These forward-looking statements include among others the impact of the new Chief Transformation Officer on the integration of National Bank of Canada's projects. These statements are inherently subject to significant risks, uncertainties and changes in circumstances, many of which are beyond the control of National Bank of Canada. Except as required by law, National Bank of Canada 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 $221 billion in assets as at April 30, 2016, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. The Bank has close to 20,000 employees and is widely recognized as a top employer. The Bank's 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.


SOURCE National Bank of Canada

For further information: (The telephone numbers provided below are for the exclusive use of journalists and other media representatives.): Linda Boulanger, Vice-President - Investor Relations, National Bank of Canada, Tel.: 514-394-0296; Claude Breton, Vice-President - Public Affairs, National Bank of Canada, Tel.: 514-394-8644


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