03:22 PM EST, 12/20/2024 (MT Newswires) -- National Bank of Canada ( NTIOF ) on Friday received final approval for the acquisition of Canadian Western Bank ( CWESF ) and announced changes to its senior leadership team.

On the CWB acquisition, National Bank said the Minister of Finance has approved it, and that concludes the regulatory process, as it follows reviews by the Office of the Superintendent of Financial Institutions (OSFI) and the Competition Bureau. The closing of the deal is expected to occur on Feb. 3, 2025, it added

National Bank said its senior leadership appointments take into account the acquisition of CWB, with Michael Denham appointed Executive Vice-President and Vice-Chair, effective March 1, 2025, and now responsible for leading the integration of CWB and "providing counsel to the CEO and Senior Leadership Team on strategic decisions and business opportunities".

Judith Menard will succeed Denham as Executive Vice-President, Commercial and Private Banking 1859, effective March 1, 2025.

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