Company Announcements

Laurentian Bank Announces New Director Nominee and Files Management Proxy Circular

MONTREAL , March 7, 2023 /CNW/ - Laurentian Bank (TSX: LB) is pleased to announce the nomination of Mr. Laurent Desmangles for election to its Board of Directors. His nomination, together with the 10 current directors, will stand for election at the Bank's annual meeting taking place on Tuesday, April 11, 2023 at 9:30 a.m. (Eastern Time) in Montreal, Quebec. 

Mr. Desmangles spent most of his career as a partner and Managing Partner of Boston Consulting Group (BCG), one of the leading strategy and large scale transformation consultancies in the market, and led the firm's Retail Banking segments for North America for numerous years. In addition to his current role as senior advisor at BCG, Mr. Desmangles serves as a limited partner and advisor to Nyca Partners and Demopolis Equity Partners. A resident of New York, Mr. Desmangles grew up in Montreal. He has an MBA from the Ivey Business School at Western University and a B.Eng from McGill University. Mr. Desmangles speaks five languages, including French.

"We are delighted to nominate Laurent Desmangles to join Laurentian Bank as a director", said Mr. Michael Mueller, Chair of the Board of Directors. "Laurent has a deep understanding of the US Retail and Commercial Banking marketplace thanks to his experience helping large regional banks with corporate strategy, large scale transformation, digital and analytics innovation, and change management. Laurent's global perspective and Canadian education and personal roots in Quebec make him a unique nominee to Laurentian Bank's Board and I am confident that he will make invaluable contributions to the Bank's strategy and future vision."

Laurentian Bank has mailed its notice of annual meeting of common shareholders and management proxy circular to its common shareholders. The document is available on the Bank's website. The circular contains information about Laurentian Bank's annual meeting, including exercising voting rights on the elections of Laurentian Bank's Board of Directors, the appointment of its auditor and information regarding an advisory vote by shareholders on the approach to executive compensation.

We encourage shareholders to vote by proxy as early as possible so their shares are represented at the annual meeting, and we remind shareholders they can attend the annual meeting live through the LUMI platform accessible at password "laurentian2023" (case sensitive). To learn more about Laurentian Bank's performance in 2022 and how we are changing banking for the better, please refer to our 2022 annual report.

About Laurentian Bank of Canada

At Laurentian Bank, we believe we can change banking for the better. By seeing beyond numbers.

Founded in Montréal in 1846, Laurentian Bank helps families, businesses and communities thrive. Today, we have approximately 3,000 employees working together as one team, to provide a broad range of financial services and advice-based solutions for customers across Canada and the United States. We protect, manage and grow $50.4 billion in balance sheet assets and $28.1 billion in assets under administration.

We drive results by placing our customers first, making the better choice, acting courageously, and believing everyone belongs.

SOURCE Laurentian Bank of Canada