National Bank of Canada appointed Ricardo Pascoe and Luc Paiement as co-presidents and CEOs of National Bank Financial Group on Thursday.

Based in Toronto, Ricardo Pascoe will be primarily responsible for all activities related to institutional equities and fixed-income securities, derivatives, U.S. operations and treasury.

An internationally recognized expert on derivatives, Pascoe previously worked in London and New York. Throughout his career, he has developed a thorough knowledge of risk management coupled with skill in creating and developing innovative and high-performing financial products. He has been with National Bank since 2003 as senior vice president, treasury and financial markets.

Luc Paiement, for his part, will be based in Montreal, where he will be primarily responsible for retail brokerage services, Corrnet, corporate banking, investment banking and research.

Paiement has been with NBF for close to 25 years, taking on a variety of strategic positions, both in the brokerage sector, institutional equities and corporate finance. Paiement has been president, Individual Investor Services since 2002, leading a team of 750 investment advisors in 86 branches across Canada.

Both co-presidents will share duties related to corporate development, compliance, administration and human resources. The appointments take effect on Sept. 4. Paiement and Pascoe will both report to Louis Vachon, chief operating officer, National Bank, and will sit on the bank’s executive committee.