J.C. Flowers & Co., a private equity firm focused on financial services, added former National Bank of Canada Chief Executive Officer Louis Vachon as an operating partner.
Vachon left National Bank in October after 14 years leading Canada’s sixth-largest bank. National Bank shares had the best performance of the country’s banks during his tenure as Vachon, 59, expanded the lender beyond its stronghold in Quebec and built up its capital-markets business.
“It’s a time of disruption and opportunity in the financial services industry, and we believe Louis’s experience will be an asset to many of our portfolio companies, current and future, as they navigate today’s environment,” J.C. Flowers CEO Chris Flowers said in a statement Monday.
J.C. Flowers, founded in 1998, has about US$5 billion in assets under management and offices in New York and London.