Laurentian Bank of Canada said Chief Executive Officer Rania Llewellyn will leave immediately, to be replaced by personal and commercial banking chief Eric Provost. The bank’s chairman resigned.
The announcement brings a sudden and surprising end to the tenure of Llewellyn, the first woman to lead a major domestic bank in Canada. It comes a little more than two weeks after the lender concluded a review of strategic options without finding a buyer. The bank said at the time it will try to ramp up its current strategy, which includes growth in commercial lending and technology upgrades.
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