Industry veteran Katherine Dudtschak becomes President and CEO
TORONTO, July 2, 2024
/CNW/ - HomeEquity Bank, provider of the CHIP Reverse Mortgage, is
pleased to welcome Katherine
Dudtschak as its new CEO. Ms. Dudtschak joined the Bank as
President on May 1 following the
announcement that former President and CEO Steven Ranson planned to retire at the end of
June.
As President and CEO, Ms. Dudtschak has officially assumed
leadership of the federally regulated Schedule 1 Bank, overseeing
its strategic vision for customer-centric growth as it provides
innovative financial solutions to help Canadians 55+ live in the
homes they love.
"With Katherine's extensive experience across the financial
services industry and with developing high-performing teams, we
believe she is well positioned to build for the future and make a
positive impact for the Bank's customers," said Daniel Jauernig, Chair of the Board of
HomeEquity Bank.
"As the Canadian population ages, it has become increasingly
important to look at how financial services organizations are
serving and supporting our country's largest demographic. With
Katherine's experience and people-first mindset, we knew she was
the right person to lead HomeEquity in its next stage of growth,"
said Jeff Markusson, Senior Managing
Director, Financial Services at Ontario Teachers' Pension Plan and
member of the Bank's Board of Directors.
Ms. Dudtschak brings deep skills and personal and commercial
banking experience to continue the Bank's mandate of providing
specialized financial services for this segment of our society, as
economic pressures continue to change the life plans for many in
Canada. An Ipsos report from
earlier this year showed more than 70 per cent of Canadians 55+ are
homeowners and, while 78 per cent have savings, almost half say
it's less than $100,000.
"With the state of our economy and society, more Canadians than
ever are ageing with debt, limited cash savings and shrinking
pensions. They're looking at the equity and savings built up in the
homes they love as a path to continued independence and dignity,"
said Ms. Dudtschak. "We've reached the point where the
over-fifty-fives are the largest demographic in Canada, and HomeEquity Bank is purely
dedicated to understanding and serving the diversity of need within
this vibrant and dynamic population."
HomeEquity Bank is the Canadian reverse mortgage market leader,
having helped establish the category of safe, secure and easy
financial solutions that help Canadians 55+ access the equity
they've built up in their homes.
The Bank has seen a strong and steady upward trajectory over the
last three years, growing its portfolio by more than $1 billion year-over-year, with a total portfolio
of nearly $8 billion in 2023. Under
Ms. Dudtschak's dedicated and passionate leadership, this growth is
reinforced by ongoing robust investments in research, technology
and talent across the business that reflect the reality of what
ageing looks like in Canada
today.
About HomeEquity Bank
HomeEquity Bank is a Schedule 1 Canadian Bank offering a range
of reverse mortgage solutions including the flagship CHIP Reverse
Mortgage™ product. The company was founded more than 35 years ago
to address the financial needs of Canadians who wanted to access
the equity of their top asset – their home. The Bank is committed
to empowering Canadians aged 55 plus to live the retirement they
deserve, in the home they love. HomeEquity Bank is a portfolio
company of Ontario Teachers' Pension Plan Board, a global investor
that delivers retirement income for 340,000 current and retired
teachers in Ontario. For more information,
visit www.chip.ca.
SOURCE HomeEquity Bank