National Bank Appoints New CEO

The Globe and Mail, Bertrand Marotte, 12 January 2007In a surprise move, National Bank of Canada president and chief executive officer R�al Raymond is stepping down for personal reasons after only five years as head of the country's sixth-largest bank.The 56-year-old veteran -- with a 37-year career at the bank -- is to retire on June 1 and will be replaced by Louis Vachon, who has been chief