The Globe and Mail reports in its Tuesday edition that Laurentian Bank of Canada chief executive officer Eric Provost has pledged to rebuild customer trust and improve performance after a five-day service outage last week.
The Globe's Andrew Willis writes that Laurentian named Mr. Provost as CEO on Monday, replacing Rania Llewellyn. The lender also announced chairman Michael Mueller had resigned.
Laurentian said Ms. Llewellyn would
"leave immediately" after three years at the helm. She and Mr. Mueller are departing after the bank ran a failed sales process this summer. Laurentian is halfway through a three-year turnaround plan aimed at boosting profit and matching the efficiency of rival lenders.
On Sept. 24, Laurentian's systems crashed during a planned technology upgrade. The bank was unable to fix the problems and process transactions until Sept. 28, with both individual and corporate clients unable to access their accounts. In August, Laurentian chief technology officer Beel Yaqub left the bank.
Mr. Provost said Laurentian's board offered him the CEO role on Sunday evening. He declined to comment on Ms. Llewellyn's departure. Mr. Provost said the bank's "priority now is to win back trust."
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