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Quebec City-based Industrial Alliance Insurance and Financial Services Inc. (IA) is doing its part to promote the advancement of women to high-level positions in the financial services sector as the firm has tapped Jocelyne Bourgon as the new chairwoman of its board of directors, according to an announcement on Wednesday.

Bourgon will replace John LeBoutillier, who has served as chairman since 2005 and will leave his post after the annual meeting for the re-election of board members is held on May 11.

LeBoutillier has witnessed the firm’s growth, from having a sizable presence in Quebec to expanding its footprint across Canada and in the U.S., during the course of his 20-year tenure as board member with IA.

“Today, IA is a full-fledged financial services company with offices Canada-wide and in the U.S.,” he says in a statement.

Bourgon, whose appointment is subject to shareholder approval, joined the board in 2014 and currently serves as vice chairwoman, a position she has held since 2016.

“It’s a privilege to work with IA’s board members and management,” Bourgon says. “The exceptional management team and highly skilled board work together to ensure the company’s continued success, growth and development.

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