The board of directors of Laurentian Bank today approved a restructuring plan aimed at making the bank more client-centric.

The bank’s new structure includes three main business units, which will be supported by four corporate units.

The three main business units are: Wealth management and brokerage; Retail and commercial financial services; and B2B Trust and agency banking.

Wealth management and brokerage, is headed by Jacques Daoust who becomes senior executive vice president, president and CEO of BLC-Edmond de Rothschild, and chairman of the board of Laurentian Bank Securities.

Retail and commercial financial services is headed by Richard Guay who becomes senior executive vice president of the entire sector and president of Laurentian Trust of Canada Inc. Guay remains chairman of the board of LBC Capital Inc. and of Brome Financial Corp. Inc., and president and CEO of LBC Trust.

B2B Trust and agency banking is headed by Michel Pelletier, co-chief operating officer of B2B Trust and executive vice president, agency banking, and Bernard Piché, co-chief operating officer and CFO of B2B Trust and executive vice president.

The four main corporate sectors are: Finance, control and strategic development; Information technology, administrative services and real estate management; Treasury, capital markets and risk management; and Human resources and corporate affairs.

Finance, control and strategic development is headed by Robert Cardinal who becomes senior executive vice president. Information technology, administrative services and real estate management headed by V.P. Pham, executive vice president. Treasury, capital markets and risk management is headed by André Dubuc who becomes senior executive vice president. Human resources and corporate affairs is headed by Suzanne Masson, executive vice president and secretary of the bank.

All of the above-mentioned officers are members of the bank’s Management Committee along with Robert Teasdale, senior vice president, Retail Financial Services, Ontario and Western Canada who will report to Richard Guay, and Charles Murphy, president and CEO, Laurentian Bank Securities, who will report to Jacques Daoust.

Henri-Paul Rousseau, the bank’s president and COE, explained that he had proposed these changes “to more clearly identify those responsible for recruiting new clients, selling products and managing client relations, the objective being to make Laurentian Bank and its subsidiaries the main provider of financial services for a growing client pool, as well as promote the accelerated development of wealth management, private management and brokerage activities”.