National Bank Names Laurent Ferreira CEO, Succeeding Vachon (2)

National Bank of Canada Chief Executive Officer Louis Vachon is stepping down after 14 years and will be succeeded by Laurent Ferreira atop the country’s sixth-largest bank.

Ferreira, 50, who was promoted to chief operating officer in February, will take over as CEO on Nov. 1, the Montreal-based lender said in a statement Wednesday.

Laurent Ferreira

Source: National Bank of Canada

Since taking the reins in 2007, Vachon, 59, helped National Bank grow beyond its stronghold in Quebec by building up its capital-markets unit and diversifying offerings within its divisions, providing the company with a steadier stream of earnings.

“Since Louis took over, every division of ...