The Desjardins Group has named Denis Dubois as its next president and chief executive officer, succeeding Guy Cormier. Currently Executive Vice-President, Wealth Management and Insurance, Dubois will take office on Sept. 2, 2025.
Guy Cormier, who has led Desjardins since 2016, will stay on as strategic advisor to the executive team until March 2026. Desjardins’ board chair Louis Babineau highlighted the depth of experience Dubois brings to the role.
Dubois, a trained actuary, has been with Desjardins since 2003. He has headed the Wealth Management and Insurance division since 2019, following his appointment in 2016 as Executive Vice-President of the Property and Casualty Insurance division.
Dubois will be the first actuary by training to be named CEO of Desjardins, a spokesperson for the financial institution told Insurance Portal.
“A key industry player”
In a release issued on June 3, Desjardins pointed to Dubois’s leadership in two major strategic transactions: the acquisition of State Farm’s Canadian operations and, more recently, the purchase of Guardian Capital Group’s distribution business in insurance, mutual funds, and securities.
Babineau also acknowledged Cormier’s leadership and collaboration in implementing the new governance model adopted by Desjardins in spring 2023.
Under this new structure, in effect since March 2024, the board of directors—not the CEO—now oversees the role of board chair and appoints the president and CEO. Cormier was elected to the top post in 2015, following a contested race with two other candidates.
