Industry moves last week

Each week, we summarize notable moves across the financial industry.

• National Bank has announced changes to its senior leadership team, effective Mar. 1. Michael Denham, executive vice-president of Commercial and Private Banking 1859 will become executive vice-president and vice-chair. He will lead Canadian Western Bank’s integration into National Bank. Before joining National Bank in 2021, Denham was president and CEO of the Business Development Bank of Canada. Judith Ménard, head of national accounts, Canada, and senior vice-president of Commercial and Private Banking 1859 of B.C., Prairies, Ontario and Atlantic Canada, will succeed Denham. She has been with the bank since 1998 and has held leadership roles in wealth management, financial markets, personal and commercial banking, and risk and compliance. Dominic Paradis, senior vice-president of legal affairs and corporate secretary, will be promoted to executive vice-president and general counsel. Paradis has worked in legal and corporate governance roles with the bank since 2003. Stéphane Achard, executive vice-president, international, and responsible for National Bank’s Cambodian unit ABA Bank, will retire on April 30.
• Nicole Connolly, chief investment officer of sustainable investing and portfolio manager at Fidelity Investments in Boston, announced her retirement after a quarter-century career at the company. Connolly said she wanted to spend more time with family and pursue endeavours outside the finance industry. Preeti Sayana, who joined Fidelity in 2005 and has been a portfolio manager since 2018, will succeed Connolly.