By Adriano Marchese
Laurentian Bank of Canada has announced the expansion of Sebastien Belair's role to that of Chief Operating Officer as part of the company's efforts to enhance client experience and rebuild their reputation. Belair, who has been serving as the bank's Chief Human Resources Officer since 2021 and was recently appointed as Chief Administration Officer, will now also be responsible for overseeing product and digital development.
The Quebec-based bank has witnessed a series of executive departures in recent times, including the departure of the CEO and the bank's chair following a network outage that disrupted online banking services. Rania Llewellyn, who became the first woman to lead a major Canadian chartered bank when she assumed the positions of President and CEO in 2020, was succeeded by Eric Provost, the former head of the bank's personal and commercial banking operations. Michael Boychuk has been named Chair, replacing Michael Mueller who resigned.
In his new role, Provost highlighted the immediate priority of rebuilding customer trust and addressing the impact of a mainframe outage that occurred during a planned information-technology maintenance update. He emphasized the bank's commitment to placing leaders with a strong dedication to customer experience in order to regain customer trust. Further details on the bank's new strategy will be shared throughout the coming year.