iA Financial Group Announces Chief Executive Succession

33-year veteran Denis Ricard becomes next President and CEO

QUÉBEC, June 12, 2018 /CNW Telbec/ - Mr. Yvon Charest, President and Chief Executive Officer of iA Financial Group, today announced his retirement after almost 40 years of service with the organization and 18 years in his present role.

Concurrently, the Board of Directors confirms the appointment of Mr. Denis Ricard as the incoming President and Chief Executive Officer, effective September 1, 2018.  Mr. Charest shall assure the transition of the CEO role until his departure on January 1, 2019.

"On behalf of the Board, I want to pay tribute to Yvon Charest and the exceptional legacy that he leaves to iA Financial Group," said Mrs. Jocelyne Bourgon, Chair of the Board of Directors. "During his tenure as CEO, the organization has grown and matured into a leading financial services company in Canada with a reputation that is second to none. He has instilled a rich culture of outperformance built on respect, transparency, and disciplined decision-making, while maintaining a long-term view on business strategy, talent development and shareholder value creation. Through his leadership over the years, he has proven time and time again that it is possible to deliver solid results without prejudice to the corporate values or the capital of an organization."

"I want to congratulate Denis on his well-deserved appointment as our next President and Chief Executive Officer," commented Yvon Charest. "If I had to choose one quality that defines Denis, it is his willingness to embrace feedback and new ideas to arrive at informed decisions. He is a skilled team builder, passionate about taking on new challenges and dedicated to the long-term goals of iA Financial Group. His deep knowledge of our corporate culture, the financial industry and the emerging trends in all our businesses will serve him well in his role as the next chief executive of our organization."

"I am truly honoured that the Board of Directors has entrusted me with the leadership of this financial institution, of which I am very proud," said Denis Ricard.  "I look forward to working closely with the Board, Yvon Charest and the management team during the transition to assure the continuity of our long-term outperformance."

An actuary by training, Denis Ricard joined iA Financial Group in 1985. Over the last 33 years, he has assumed positions of increasing responsibility that allowed him to gain a well-rounded perspective on the organization. Notably he has been Chief Actuary (2004-2010), Senior Vice-President, Business Development (2010‑2015), Executive Vice-President, Individual Insurance and Annuities (2015-2017) and more recently Chief Operating Officer (2017-present).

About iA Financial Group
Founded in 1892, iA Financial Group is one of the largest insurance and wealth management companies in Canada, with operations in the United States. It is listed on the Toronto Stock Exchange under the ticker symbol IAG.

iA Financial Group is a business name and trademark of Industrial Alliance Insurance and Financial Services Inc.

SOURCE Industrial Alliance Insurance and Financial Services Inc.