04:57 PM EDT, 05/23/2024 (MT Newswires) -- Laurentian Bank (LB.TO) Thursday announced the upcoming retirement of chief risk officer William Mason, who it described as having been an integral part of the Bank since 2018, "playing a pivotal role in fostering a robust risk-aware culture and driving long-term business success."

During his tenure, the bank said Mason spearheaded initiatives that prioritized resilience and adaptability, ensuring effective credit origination through strong adjudication, prudent loss reserving, and comprehensive credit portfolio management.

Christian De Broux will replace Mason in the role, starting June 17. De Broux returns to Laurentian Bank with extensive experience, having played a role in key strategic initiatives during his previous tenure, according to a company statement.

"We are excited to welcome Christian back to Laurentian Bank, his expertise and experience in risk management will be crucial as we navigate the future," chief executive Eric Provost said in a statement. "We thank William for his dedication and wish him the very best as he embarks on this new chapter of his life."

Mason will remain with Laurentian Bank as Special Advisor to the CEO, CRO, and the board until the end of the fiscal year, while supporting De Broux in his new role.