A sign sits outside the head offices of Laurentian Bank in Montreal, March 19, 2013.Christinne Muschi/Reuters
Laurentian Bank Securities is bringing in a new chief strategist to oversee portfolio strategies and economic research.
Luc Vallée will join the bank's securities and capital markets team. He has previously held the role of chief economist at the Economic Development Agency of Canada and at pension plan manager Caisse de dépôt et placement du Québec.
Laurentian recently lost an experienced executive when chief economist Carlos Leitão left his decade-long position with the bank to pursue a political career. He stepped down from his role to run in the Quebec provincial election, and was appointed Finance Minister in the province on April 23 this year. The bank says Mr. Vallée's appointment is not a replacement for Mr. Leitão's former role as chief economist.
Laurentian highlighted as key attributes Mr. Vallée's experience in finance and economics in both the private and public sectors. In his new role, he will suggest how to position portfolios in terms of asset distribution and selecting equity and fixed income markets, as well as in different regions and sectors.
Mr. Vallée will also oversee the bank's economic research, although assistant chief economist Sébastien Lavoie maintains his leadership position in that group.