Laurentian Bank says chief financial officer Francois Laurin is retiring and will be replaced by Yvan Deschamps in April.

The bank says Deschamps joined its ranks in 2016 and has been senior vice president of finance, accounting and corporate development since 2017.

Before that, Deschamps worked at CAE Inc., Caisse de depot et placement du Quebec and Bell Canada.

The leadership change comes after Rania Llewellyn took over as chief executive last fall.

Llewellyn says that Laurin, who has helped lead the bank's financial team for five years, decided to retire last year but opted to stay on during her onboarding as new CEO.

Llewellyn says that Laurin leaves the bank, which has $27.8 billion in assets under administration and 2,900 employees, with strong capital and liquidity positions.