National Bank Names Davis co-CEO of Financial-Market Unit

(Corrects spelling of Pascoe.)

April 11 (Bloomberg) -- National Bank of Canada promoted Brian Davis to co-chief executive officer of the Montreal-based lender’s financial-markets unit to work alongside co-CEO Luc Paiement.

Davis, previously head of corporate development and governance, assumes the responsibilities of investment-banking head Ricardo Pascoe, who will take a larger role in the management of National Bank Financial’s capital-markets business, Pascoe wrote in an internal memo today. Claude Breton, a bank spokesman, confirmed the memo’s contents.

“Brian’s appointment to lead the day-to-day governance of NBF will allow me to focus more on the management of our overall capital-markets activities, as well as the strategy, growth and development of the overall business,” Pascoe said. “Brian’s promotion is the natural extension of the governance leadership he has provided to NBF since he joined us in 2005.”

The appointment was reported earlier today by the Globe and Mail.

To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.net

To contact the editors responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net; David Scanlan at dscanlan@bloomberg.net Steven Crabill, Jacqueline Thorpe