An Economic Outlook with National Bank

Laurent Ferreira is President and Chief Executive Officer of National Bank, a position he has held since November 2021. He is responsible for the strategies, orientations and development of the Bank and its subsidiaries, with the support of the Senior Leadership Team. At the time of his appointment, Mr. Ferreira was Chief Operating Officer. 

Mr. Ferreira started his career at Bankers Trust where he worked for two years. He joined National Bank in 1998 and successively held the positions of Senior Manager, then Executive Vice-President and Managing Director of Derivatives and Equities within the Financial Markets group. From 2018 to 2021, Mr. Ferreira was Executive Vice-President and Co-Head, Financial Markets. 

Mr. Ferreira was a member of the Hydro-Québec Board of Directors for several years. He currently serves on the Boards of Directors for Groupe CH and the Business Council of Canada. Mr. Ferreira is actively involved in the community and supports various causes. He has co-chaired fundraising campaigns for the Maisonneuve-Rosemont Hospital, the Montreal Women’s Y Foundation, and the Centraide United Way campaign for Greater Montreal. He currently co-chairs the Grow Beyond campaign for the CHU Sainte-Justine Foundation. 

Mr. Ferreira has a master’s degree in finance from HEC Montréal and a bachelor’s degree in economics from Université du Québec à Montréal. 

Stéfane Marion is Chief Economist and Strategist at National Bank of Canada and National Bank Financial, a role he has held since November 2008. He has consistently ranked among the top three economists in Canada by institutional investors surveyed by Brendan Wood International, earning the number one position in 2025. Under his leadership, the Economics and Strategy Group has earned widespread recognition for the accuracy of its forecasts, including the 2025 award for Best Canadian Dollar Forecaster from Focus Economics.

In 2012, the C.D. Howe Institute appointed Mr. Marion to the Monetary Policy Council and the Business Cycle Council, an arbiter of business cycle dates in Canada. He is also the only private-sector chief economist to serve on Statistics Canada’s Macroeconomic Advisory Committee. In 2022, Mr. Marion was invited to become the only Canadian representative as an active member of the Conference of Business Economists, founded in the United States in 1944, whose mission is to help preserve the free enterprise system.

Prior to joining National Bank of Canada, Mr. Marion spent several years with the federal Departments of Finance and Industry in Ottawa, where he contributed to key economic policy development and analysis.

Mr. Marion holds a Bachelor’s degree and a Master’s degree in Economics from the
Université de Montréal.