TORONTO, July 21, 2014 /CNW/ - Equitable Bank (TSX: EQB and EQB.PR.A) today announced changes associated with the Company's Executive
Management Team transition and succession plan. Andrew Moor, President
and Chief Executive Officer is pleased to announce the appointment of
Michelle Cole to the position of Vice President, Commercial Lending.
Ron Tratch, Vice President, Commercial Credit will succeed Bill Edmunds
as Chief Risk Officer. Mr. Edmunds will remain active in his role as
Chief Risk Officer as well as assisting in the transition of duties
until his planned retirement at year end.
Ron Tratch, currently Vice President, Commercial Credit will assume the
role of Chief Risk Officer at year end. Ron has held his current role
since 2011, managing all the aspects of commercial credit within the
Bank and spearheaded the overall plan to focus on the retention of
quality commercial assets by aligning the portfolio management and
underwriting groups. Prior to joining the Bank, Ron served as Senior
Vice President at GE Capital Canada and was a partner in a Private
Equity Firm. Throughout his 20 year career, Ron has focused on
operations and business development in various areas including real
estate, corporate and project finance, as well as leveraged
acquisitions, proactive risk management and financial restructuring.
Ron earned a Bachelor of Commerce from the University of Calgary and is
also a Certified Professional Accountant, Certified Management
Accountant.
As Vice President, Commercial Lending, Michelle Cole will be responsible
for overseeing credit, portfolio management and origination for the
Bank's commercial lending operation. Michelle has a strong background
in commercial credit having previously served as Senior Vice President,
Commercial Finance at GE Capital. While at GE Capital, Michelle spent
14 years in several progressive management roles with oversight of, or
responsibility for sales management, operations, underwriting and
collections. Michelle holds a Master of Business Administration from
the University of New Brunswick, a Bachelor of Arts in Political
Science/Public Administration from the University of Ottawa and a
Certificate in International Business from Limburos Universitair
Centrum (Belgium).
"Over the past seven years, Bill has developed a first class risk
infrastructure that includes enhanced risk policies and capabilities in
risk analytics. Once the transition of responsibilities is complete, I
am sure our risk management function will be in good hands. The smooth
transition of these important responsibilities is indicative of the
maturity of our succession planning," added Mr. Moor.
About Equitable Group Inc.
Equitable Group Inc. is a growing Canadian financial services business
that serves the market through its wholly-owned subsidiary, Equitable
Bank. Equitable Bank is a federally regulated Schedule I Bank with
total assets of approximately $12 billion, with more than 300 employees
and proven capabilities in lending and deposit-taking. The Company's
integrated operations are organized according to specialty. Within
Equitable Bank's Core Lending business, Single Family Lending Services
funds mortgages for owner-occupied and investment properties across
Canada while Commercial Lending Services provides mortgages on a
variety of commercial properties on a national basis. Equitable's
Securitization Financing business originates and securitizes insured
residential mortgages under the Canada Mortgage and Housing Corporation
administered National Housing Act. Equitable Bank provides savings
products including Guaranteed Investment Certificates and savings
accounts. Equitable Bank was founded in 1970 as The Equitable Trust
Company. For more information, visit the Company's website at www.equitablebank.ca and click on Investor Relations.
SOURCE Equitable Group Inc.