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two businessmen shaking handsGeorge Doyle/Getty Images

National Bank of Canada is welcoming two new board members with ties to both business and politics.

The former head of Canada Mortgage and Housing Corp. will join the Montreal-based lender as a director on Dec. 3.

Karen Kinsley said she would step down as chief executive of CMHC last year. In her 10 years at the helm of one of the country's largest financial institutions, Ms. Kinsley led the mortgage insurer through a period of increased oversight by the federal government and regulators as the housing market heated up.

In an appointment notice, National Bank highlighted that Ms. Kinsley supervised the $4-billion economic stimulus package awarded to CMHC in 2011 as part of Canada's Economic Action Plan.

The bank also welcomed businessman and politician Raymond Bachand as a new director on Oct. 29.

Mr. Bachand served as Quebec's finance minister from 2009 to 2012, and before his career in public life, he gained corporate management experience at companies such as grocery and food businesses Metro Inc. (then Metro-Richelieu Inc.) and Culinar Inc. He left politics last year and became an adviser at law firm Norton Rose Fulbright LLP.

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Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 28/03/24 4:00pm EDT.

SymbolName% changeLast
MRU-T
Metro Inc
-0.56%72.72
NA-T
National Bank of Canada
-0.45%114.06

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