A private group led by one of Quebec’s most successful bankers has purchased a controlling stake of a major broker network with two of its chief executives staying on as managing partners.
The group, led by Luc Bernard have joined with Pierre Martel and Michael Beckette of the Multi-Prêts/Mortgage Alliance
Group to purchase the Group’s outstanding shares.
“I am especially proud of this announcement, which confirms our ambition to make our group the uncontested mortgage brokerage leader in Canada,” Bernard, the Group’s new President and CEO said.
Bernard brings with him 30 years’ experience in the banking and insurance industries. He was most recently an executive vice-president with Laurentian Bank.
“I’m also very pleased that the two current executives, Pierre Martel, Executive Vice-President and COO, Multi-Prêts, and Michael Beckette, Executive Vice-President and COO, Mortgage Alliance, will be at my side to develop our brands and brokerage platform with a very specific goal in mind: to become the benchmark in mortgage brokerage,” Bernard said.
Mortgage Alliance has a network comprising 2,000 brokers and sales of nearly $11 billion.