National Bank of Canada is expanding the leadership of its insurance operations as part of a broader executive reorganization that follows its acquisition of Canadian Western Bank earlier this year.
As part of the changes, Nancy Paquet, executive vice-president of wealth management, will now also oversee the bank’s investment distribution network and insurance business, which had previously been managed under personal banking. The move consolidates National Bank’s wealth and insurance divisions under one leadership structure, reflecting the institution’s strategy to strengthen its integrated financial services offering.
By aligning insurance and wealth management, the bank aims to enhance cross-selling opportunities and provide a more seamless experience for clients seeking holistic financial solutions. The change comes amid rising demand for combined banking, investment, and protection products as Canadians look for greater financial stability in a volatile economic environment.
The leadership realignment follows the announcement that Lucie Blanchet, executive vice-president for personal banking and client experience, will retire on January 1 after 23 years with the bank. Blanchet will remain with National Bank as a strategic adviser to chief executive officer Laurent Ferreira, supporting ongoing strategic projects.
To succeed Blanchet, Julie Lévesque, currently executive vice-president of information technology and operations, will assume the role of executive vice-president of personal banking while maintaining oversight of technology and operations strategy for personal and commercial banking.
In other executive shifts, Étienne Dubuc, executive vice-president of capital markets, will take responsibility for the National Bank Independent Network and lead technology and operations strategy for capital markets and wealth management. Meanwhile, Dominic Paradis, executive vice-president and general counsel, will expand his remit to include enterprise technology and resilience.
The reorganization positions National Bank to better integrate its operations across personal banking, wealth management, and insurance, following its expansion in Western Canada through Canadian Western Bank’s Alberta and British Columbia-focused network.
