TORONTO, July 12, 2017 /CNW/ - Home Capital Group Inc.
("Home Capital" or the "Company") (TSX: HCG) today announced that
its Board of Directors has appointed Yousry
Bissada as President and Chief Executive Officer of the
Company and its subsidiaries, Home Trust Company and Home Bank,
effective August 3. Mr. Bissada is a
seasoned mortgage and financial services industry leader with a
successful career spanning 30 years.
Mr. Bissada's experience includes seven years as President and
CEO of Filogix Inc., a leading software and service provider to the
mortgage industry, as well as executive roles in mortgage
operations at two of the Big Five Canadian banks, including as
Senior Vice President of Real Estate Secured Lending Products at TD
Canada Trust. For the past three years, he has served on the Board
of Directors of Equity Financial Holdings Inc., a TSX-listed
alternative mortgage lender, and previously served as Chairman of
two mortgage lenders, Canadiana Financial Corp. and Paradigm Quest
Inc.
Mr. Bissada, 57, is currently President and CEO of Kanetix Ltd.,
which works with financial services companies to help them improve
their digital tools and technology and operates one of Canada's largest online platforms for sourcing
insurance quotes. Mr. Bissada was inducted into the Canadian
Mortgage Hall of Fame in 2011.
"We are delighted to welcome Yousry to Home Capital," said
Brenda Eprile, Chair of the Home
Capital Board of Directors. "He has extensive industry experience,
including at the CEO level, having led a number of business
transformations. He has spent much of his career finding ways to
make companies run more smoothly, improving customer service and
applying technology to the financial services and mortgage
industries. In addition, Yousry has proven his ability to balance
an entrepreneurial culture with operational and regulatory
discipline, to energize teams and to create value. These are
precisely the characteristics we see driving our future
success."
"Home plays a critically important role in terms of helping
Canadians realize their dream of home ownership," Mr. Bissada said.
"I am excited about the opportunity to work with the strong team at
Home Capital and build on the Company's leading position in the
alternative mortgage lending market. We want to be the first choice
for depositors, borrowers and brokers."
One of Mr. Bissada's first responsibilities will be to complete
the Company's search for a new Chief Financial Officer. Mr. Bissada
will be appointed to the Board of Directors of Home Capital and its
subsidiaries effective with his appointment as President and
CEO.
Yousry Bissada Biography
Yousry Bissada is a Chief
Executive Officer with more than three decades of experience
focused on financial services and the mortgage industry, and a
track record of managing change, driving transformation and
creating value.
Since 2011, Mr. Bissada has been President and CEO of Kanetix
Ltd., a digital platform that provides more than one million quotes
per year to customers seeking insurance and other financial
products, and enables the customers to connect with providers that
offer those quotes. Kanetix also works with leading insurance
companies, banks and other financial services companies to improve
their digital tools and technology. Under his leadership, Kanetix
has experienced consistent revenue and profit growth, built the
infrastructure required for expansion and significantly increased
brand awareness.
Mr. Bissada began his career in finance as a Certified General
Accountant and in 1989 became Chief Financial Officer of FirstLine
Trust Company, a leading-edge company focused on mortgage product
development, securitization structures and non-branch origination
channels.
He then rose through the mortgage industry, taking progressively
more senior roles with a focus on operations.
After FirstLine Trust was acquired by Canadian Imperial Bank of
Commerce, Mr. Bissada became Vice President of Servicing Operations
for CIBC Mortgages and FirstLine, a role in which he significantly
improved customer service ratings.
Mr. Bissada then moved to Canada Trust, and in 1999 he was named
Senior Vice President of Real Estate Secured Lending Products at TD
Canada Trust, overseeing one of Canada's largest mortgage businesses.
In 2000, Mr. Bissada became President and CEO of Filogix, an
innovative B2B software and service provider to the mortgage
industry, where he served until 2007. Under his leadership, Filogix
produced significant growth in revenue, earnings and market share,
as the company expanded from a small player to an industry leader.
Today, Filogix is the recognized industry standard for mortgage
brokers submitting applications to lenders such as Home Trust.
Mr. Bissada has also held numerous roles on the boards of
companies in the mortgage industry. From 2009 to 2011, Mr. Bissada
served as Chairman of two mortgage lenders, Canadiana Financial
Corp. and Paradigm Quest Inc. From 2007 to 2009, he served as a
director on the Board of Street Capital Financial Corp. He
currently serves on the Advisory Board of Real Matters Inc.'s
Solidifi, a provider of appraisal services using an innovative
technology platform, and on the Board of Directors of Equity
Financial Holdings Inc., a publicly traded alternative mortgage
lender. Mr. Bissada intends to step down as a director of Equity
Financial prior to assuming his position with Home Capital.
Caution Regarding Forward-looking Statements
This press release contains forward-looking information within
the meaning of applicable Canadian securities legislation. Please
refer to Home Capital's 2016 Annual Report, available on Home
Capital's website at www.homecapital.com, and on the Canadian
Securities Administrators' website at www.sedar.com, for Home
Capital's Caution Regarding Forward-looking Statements.
About Home Capital Group Inc.
Home Capital Group Inc. is a public company, traded on the Toronto
Stock Exchange (HCG), operating through its principal subsidiary,
Home Trust Company. Home Trust is a federally regulated trust
company offering residential and non-residential mortgage lending,
securitization of insured residential mortgage products, consumer
lending and credit card services. In addition, Home Trust offers
deposits via brokers and financial planners, and through its direct
to consumer deposit brand, Oaken Financial. Home Trust also
conducts business through its wholly owned subsidiary, Home Bank.
Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British
Columbia, Nova Scotia,
Quebec and Manitoba.
SOURCE Home Capital Group Inc.