The board of directors of Caisse centrale Desjardins (CCD) today announced the appointment of Bruno Morin to the position of general manager, with overall responsibility for Caisse centrale and Desjardins Bank as well as for business relations with Desjardins Credit Union.

Before this appointment, Morin held the position of senior vp, investment funds and trust services at Fédération des caisses Desjardins du Québec. Morin’s mandate includes the development and optimization of synergies between Caisse centrale and the other components of Desjardins Group.

Raymond Laurin, senior vp and CFO of Desjardins Group, will assume the duties of CFO of CCD. Jacques Descôteaux, as senior vp, treasury of Desjardins Group, will be in charge of all Desjardins Group’s treasury activities.

These appointments follow the departure Jean-Guy Langelier, president and COO of Caisse centrale Desjardins and chief of the treasury of Desjardins Group, as well as Trung Huu Nguyen, senior vp, finances, strategic alliances and international of CCD.

Desjardins Group says these events took place in the context of an internal audit currently underway at CCD regarding certain purchasing and management practices that are considered inappropriate by the CCD board of directors.

“These practices are not at all related to Desjardins Group’s market and treasury activities and have had no impact on the clients of Caisse centrale Desjardins,” Desjardins Group said in a release.

“Mr. Morin has the skills and expertise required to successfully carry out this mandate. He can also count on the support of Messrs. Laurin and Descôteaux as well as the CCD team. Mr. Morin is a seasoned manager who has accomplished many complex undertakings at Desjardins. I am confident that he will carry out his new assignment with the same commitment and effectiveness, and that he will significantly enhance synergies between CCD and the other components of Desjardins Group,” stated Monique Leroux, chairwoman of the board, president and CEO of Desjardins Group and president and CEO of Caisse centrale Desjardins.