QUEBEC CITY, May 5, 2016 /CNW Telbec/ - Two new directors were elected to the Industrial Alliance Insurance and Financial Services Inc. board of directors during the company's annual meeting held today at the Quebec City Convention Centre. They are Agathe Côté and Louis Têtu.

Agathe Côté was Deputy Governor of the Bank of Canada from July 2010 until her retirement in January 2016. As a member of the Governing Council, she shared responsibility for decisions with respect to monetary policy and financial system stability, and for setting the institution's strategic direction. An economist by training, Ms. Côté had previously held a series of management positions with the Bank of Canada.

Louis Têtu is president, chief executive officer and a member of the board of directors of Coveo Solutions Inc., an intelligent search applications company. He co-founded Taleo Corporation, which was acquired by Oracle in 2012, and held the position of chief executive officer and chairman of the board of directors from the company's inception in 1999 through 2007. Mr. Têtu also served on the board of directors of l'Entraide Assurance‑vie, a mutual insurance company, from 1998 to 2009, when it was acquired by Union Life, a mutual insurance company.

At the same time, L.G. Serge Gadbois and Jim Pantelidis will be stepping down in accordance with the company's retirement age policy for board members.

Industrial Alliance's board of directors is chaired by John LeBoutillier and is made up of 14 members. Its composition is as follows:

• Shareholders' directors: Jocelyne Bourgon, Pierre Brodeur, Yvon Charest, Denyse Chicoyne, Michael Hanley, John LeBoutillier, Jacques Martin, Francis P. McGuire and Mary C. Ritchie
• Policyholders' directors: Robert Coallier, Agathe Côté, Claude Lamoureux, Danielle G. Morin and Louis Têtu

The proportion of women directors on the Industrial Alliance board has been greater than 20% for many years. Currently, women account for 36% of the board's membership.

About iA Financial Group
Founded in 1892, iA Financial Group offers life and health insurance products, mutual and segregated funds, savings and retirement plans, RRSPs, securities, auto and home insurance, mortgages and car loans and other financial products and services for both individuals and groups. It is one of the four largest life and health insurance companies in Canada and among the largest publicly traded companies in the country. iA Financial Group stock is listed on the Toronto Stock Exchange under the ticker symbol IAG.

SOURCE Industrial Alliance Insurance and Financial Services Inc.