Finance
Laurentian Bank Starts Strategic Review, Possible Sale
- CEO Llewellyn has worked on turning around Montreal-based firm
- Deal would help Canadian banks grow in French-speaking Quebec
Laurentian Bank is Canada’s eighth-largest lender by total assets.
Photographer: Graham Hughes/BloombergThis article is for subscribers only.
Laurentian Bank of Canada, which has been working on a turnaround under a new chief executive officer since late 2020, has started a strategic review that may lead to a sale.
The review is intended to “maximize shareholder and stakeholder value,” the bank said Tuesday. It has hired JPMorgan Chase & Co. to approach potential buyers, La Presse and the Globe and Mail separately reported Tuesday. The process started after a rival bank made a bid for Laurentian, the Globe said, citing people it didn’t name.