Home Capital announces new CEO

Home Capital announces new CEO

Home Capital announces new CEO The lender has announced the appointment of Gerald Soloway’s successor.

Martin Reid has been named as his replacement.

“The Board would like to thank Jerry, on behalf of shareholders, employees and customers, for three decades of incredible service, building one of Canada’s premier financial institutions from humble beginnings and in doing so helping thousands of Canadians reach their home ownership goals,” Dr. Kevin P. D. Smith, Chairman of the Boards of Home Capital, Home Trust and CFF Bank, said. “The entrepreneurial spirit of Home Capital and the value the Company has created are testaments to Jerry’s hard work and to his vision.

“We wish Jerry well in his retirement from the role of CEO, and we are pleased to still have his counsel as a director.”

Reid will take over as president and CEO of Home Capital, Home Trust, and CFF Bank. Soloway will remain a director for all three entities.

“Mr. Soloway is credited with pioneering the provision of first residential mortgages for the self-employed and for those with limited credit history, who do not meet the lending criteria of major financial institutions,” Home Capital said in a release. “This vision became the basis of Home Capital, which was founded in 1986 by a group that included Mr. Soloway.”

Soloway has acted as president and CEO since 1987.

“It’s been my honour and pleasure to serve as CEO of such a great company, and to work with so many wonderful people over the years to build this business,” Soloway said. “The team at Home Capital today is second to none. I know that the Company is in great hands, and I am very confident in their ability to take Home Capital to new heights under the leadership of Martin Reid.”