Oct 2 (Reuters) - Canada's Laurentian Bank on Monday named insider Eric Provost as CEO, weeks after announcing it would simplify its organizational structure following its failure to find a buyer during a strategic review.

Provost, who has been with the country's ninth-largest lender for over a decade, replaces Rania Llewellyn, effective immediately.

Laurentian also announced the appointment of Michael Boychuk as chair of the board, replacing Michael Mueller.

Last month, the lender said Provost would take on an expanded position as group head of personal and commercial banking as it dropped its M&A plan following a strategic review.

Laurentian had launched the review in July, but later that month, a media report citing sources said it was struggling to find an acquirer and that Canada's top banks - Bank of Nova Scotia and Toronto-Dominion Bank - had backed out of a potential acquisition.

Canadian banks are facing headwinds from a record pace of interest rate hikes and a slowing housing market, which has forced lenders to increase provisions for bad debts.

Laurentian's shares have fallen nearly 7% so far this year, through previous close. (Reporting by Manya Saini in Bengaluru; Editing by Sriraj Kalluvila)