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Vincent Hogue is no longer senior vice president and head of private client services at Montreal-based Desjardins Wealth Mangement. Until his postion was terminated on Wednesday, Hogue was responsible for leading the discount brokerage, full service brokerage and private banking businesses.

Luc Papineau currently vice president and general manager, full service brokerage, will take over as interim vice president of activities that were Hogue’s responsibility, confirms Jacques Bouchard, senior advisor, public relations, Desjardins Group.

A change in structure led to Hogue’s departure and the firm won’t comment on internal management files, Bouchard added.

The is not the first reogranization undertaken by Desjardins Group with the aim of improving its management structure. Since taking up his role as president and CEO of the financial co-operative, Guy Cormier has reviewed the group’s activities and more than a hundred executive positions (directors, principals and vice presidents) have been abolished.

According to his LinkedIn profile, Hogue worked for Desjardins Group since October 2012. He was senior vice president for Desjardins Securities from January 2004 to August 2006. Prior to that he worked for TD Waterhouse.

Finance et Investissement (FI) is a sister publication of Investment Executive. Read the FI story here. (In French)