is exiting the retail brokerage business with the sale of $2-billion of assets under administration to Montreal-based financial services giant iA Financial Group
iA spokesperson Pierre Picard said the deal does not include Laurentian’s institutional brokerage business. Shortly after, Laurentian’s systems crashed during a planned technology upgrade. The outage prevented clients from accessing their accounts for four days. Mr. Provost is expected to announced a new strategic plan this spring that will include looking to expand the bank’s most profitable business, commercial lending.“This is what we need to accelerate and put our energy into understanding how can we be simpler but better with our customers,” he said in an interview in December.
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