After a rigorous selection process, the Board of Directors of ICMIF member Desjardins Group (Canada) announced that Denis Dubois has been appointed as President and CEO. He will step into this role on 2 September 2025. Until then, Guy Cormier, who has served as President and CEO of Desjardins Group since 2016, will continue to lead the Canadian financial cooperative group (and then remain as a strategic advisor until March 2026).
Denis Dubois (pictured, speaking at the ICMIF Centenary Conference in 2022) is a credentialed actuary and has been with Desjardins since 2003. He’s served as the Executive Vice-President of Wealth Management and Life and Health Insurance since 2019, before which he was the Executive Vice-President of Property and Casualty Insurance. Three of Desjardins Group’s five business sectors have therefore already been under his charge at some point. Mr. Dubois is a visionary leader, known for his engaging management style. He’s made significant contributions to Desjardins’s sustainable growth across Canada, including two major transactions that have helped consolidate Desjardins Group’s position as a key industry player: first, the acquisition of State Farm’s Canadian operations, and more recently, the integration of Guardian Capital Group Limited’s insurance, mutual fund and securities distribution activities. He is also very active within a number of industry associations and has a strong belief in philanthropy.
During Denis’ leadership of Desjardins General Insurance Group (DGIG) and then Desjardins Financial Security, he also served on the ICMIF Board of Directors between 2017 and 2024.
“Denis Dubois is an outstanding leader. His extensive experience and clear, inspiring vision for Desjardins’ future puts people first and will give us a renewed push forward,” said Louis Babineau, Chair of the Board of Directors. “We’re very pleased to have him as president and chief executive officer. We’re confident that he’ll continue to grow Desjardins and advance our strategic plan, to the benefit of the 7.8 million members and clients we support on their journey to financial empowerment.”
“I’m deeply grateful for the trust the board has placed in me, and I’m truly honoured to take on this exciting and meaningful challenge,” said Denis Dubois. “Desjardins is more than a cooperative financial group. It’s a driver of socio-economic activity. It’s a strong, present organisation that, for 125 years, has helped make our society more innovative and inclusive, so that everyone can achieve their goals. And the vision I have for Desjardins involves everyone in the organisation focused on a sole aim: listening to and supporting our members and clients. Each day, I’ll be working with a large team of skilled people who are committed to solidarity and determined to give Desjardins a renewed push forward. It’s a privilege to follow in Guy Cormier’s footsteps, and I’d like to thank him for his immense contribution.”
Mr. Babineau also acknowledged Guy Cormier’s commitment to Desjardins. “On behalf of the board of directors, I’d like to thank Mr. Cormier for his inspiring leadership and unwavering dedication to Desjardins’s future. I’d also like to thank him for his vision and energy, and for his close collaboration in implementing our new governance model.”
In March 2024, the role and duties of the chair of the board of directors were separated from those of the president and CEO of Desjardins Group. As announced in May 2024, Louis Babineau was then elected chair of the Desjardins Group Board of Directors. With the appointment of Denis Dubois, the implementation of Desjardins Group’s new governance model is now complete.
