This week’s people moves

Each week, Advisor’s Edge will summarize notable management shifts across the financial and wealth management industry.

• At Manulife Bank, CEO Rick Lunny announced his retirement on Jan. 25. Lunny will step down in February, with Alex Lucas (currently head of individual insurance at Manulife) replacing him. Lunny has been with Manulife since 2014 but has been in the industry since the 1980s, while Lucas joined Manulife in 2007 after an eight-year career with Bank of Montreal.
• Former president and CEO of National Bank of Canada Louis Vachon took a new role with private investment firm JC Flowers & Co. LLC (based in New York and London) Monday. Vachon — who retired from National Bank in October — is now an operating partner of JC Flowers, which manages US$5 billion in assets under management.
• The Canadian Bankers Association (CBA) named its new president and CEO this week: effective Feb. 28, Anthony Ostler will join the organization from Boston-based State Street, where he most recently served as senior vice-president and head of stakeholder engagement in global marketing. Ostler replaces Neil Parmenter, who vacated the role in late December after serving for nearly five years as the CBA’s leader.

If you know of other people moves in the financial industry and/or would like us to consider your announcement, email Katie Keir at katie@newcom.ca. 

Katie Keir

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Katie is special projects editor for Advisor.ca and has worked with the team since 2010. In 2012, she was named Best New Journalist by the Canadian Business Media Awards. Reach her at katie@newcom.ca.