HomeEquity Bank announces appointment of new Board of Directors
TORONTO, ON, August 02, 2022 – HomeEquity Bank, provider of the CHIP Reverse Mortgage, announced today that it has a new Board of Directors. Appointment of the new Board, formed of eight members, and chaired by Dan Jauernig, Corporate Director and President & CIO of NCM Capital Inc., follows the completion of HomeEquity Bank’s acquisition by Ontario Teachers’ Pension Plan in July of this year.
“We are excited to welcome a talented and diverse new Board of Directors, who will help drive HomeEquity Bank forward as we challenge stereotypes about the product category and maintain and grow our market leadership,” said Steven Ranson, HomeEquity Bank President and Chief Executive Officer. “The appointment of the new Board is the next step in our extraordinary growth trajectory, as the importance of our financial solution in helping Canadian homeowners aged 55 plus enjoy a financially secure retirement in the home they love continues to grow.”
Joining Steven Ranson on the new HomeEquity Bank Board of Directors are:
Brenda is a proven senior executive and board member with more than 30 years of Canadian and global experience. The former President and CEO of Tangerine Bank of Canada, she currently sits on the board of the CCG Club Group of Companies – CAA Roadside Assistance, CAA Insurance, Echelon Insurance and Orion Travel. Brenda was named one of Canada’s Top 100 Most Powerful Women in 2018.
Cleo Cheung Goodman
Cleo joined the Private Capital group at Ontario Teachers’ in 2011. She has been involved in several transactions, including the acquisition of Burton’s Biscuits, Flexera Software, Blue Coat Systems, Canbriam Energy, Hawkwood Energy, and the sale of Sonicwall to Dell, Inc. Previously, she worked in the Mergers & Acquisitions group at CIBC World Markets.
Dan Jauernig (Chair)
Dan is the new Chair of the HomeEquity Bank Board of Directors. The Corporate Director and President & Chief Investment Officer of NCM Capital Inc., he is the former President and Chief Operating Officer of Element Fleet Management Corp. Dan also serves as a director for YourMechanic, Inc., Splend Automotive, Landlord Web Solutions and Wheels/Donlen Fleet Management.
Deepak is a board member and former C-level executive with more than 30 years’ experience in large global companies. He has driven major digital, operational, and client experience transformations in B2B and B2C industries for organizations that include Google, McKinsey, Rogers, and CIBC.
Francine is a recognized financial expert and leader in risk management, regulatory and government-related matters and global business operations. She sits on the Board of Directors of Aviva Canada where she also chairs the Audit Committee, and is a member of McGill University’s Business Faculty Advisory Board. Francine was inducted into the Women’s Executive Network 100 Most Powerful Women in Canada Hall of Fame in 2010.
Jeff joined Ontario Teachers’ in 2006 and has participated in a number of investments across the industrial, business services, and financial services sectors. Previously an investment banker at CIBC World Markets, he currently serves on a number of boards, including at APCO, Broadstreet Partners, Constellation Insurance Holdings, Lendmark, Seacube, Fairstone and Allworth Financial.
Richard joined Ontario Teachers’ Portfolio Management Team in 2020, prior to which he held a number of executive roles at Royal Bank of Canada, HSBC and Sears Canada Financial Services, as well as working with Deloitte in Europe and North America in the Strategy & Operations practice. Richard sits on the boards of Koru and Lendmark.
Trudy is a senior executive with extensive Canadian and international financial services and retail experience. As CEO of Duo Bank of Canada (formerly Walmart Canada Bank), she led the transformational acquisition of Fairstone Financial in 2021. Trudy is Vice Chair of the Board for Fairstone Bank of Canada and serves on the boards of the Ivey Business School Advisory Board and Kensington Health Centre.
HomeEquity Bank thanks outgoing Board members David A. Galloway, Matthew Kunica, Pierre Lebel, John MacIntyre (former Chair), John L. Sherrington, and Martha Tory for their service to the company.
With a 35-year track record of helping Canadians 55 and older stay in place by accessing the equity in their homes, HomeEquity Bank is well positioned for sustained growth as more Canadians near retirement age and seek solutions to create income and build wealth. HomeEquity Bank had more than $1 billion in reverse mortgage originations in 2021, a first for the bank and a 28 per cent increase over 2020.
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 333,000 current and retired teachers in Ontario. For more information, visit www.chip.ca
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