Home Capital Group (HCG.TO) has selected its new full-time CEO. Yousry Bissada is being named to the top post, taking over from interim chief executive Bonita Then, who stepped into the void after Martin Reid was fired in late March.

Bissada is currently the CEO of Kanetix, which is billed as helping financial services companies bolster their digital operations. He's also a former CEO of software firm Filogix. He previously held executive roles in the mortgage departments at CIBC and TD Canada Trust, and most recently served as a director with alternative mortgage lender Equity Financial Holdings. He was named to the Canadian Mortgage Hall of Fame six years ago. 

"We are delighted to welcome Yousry to Home Capital," said Home Capital Chair Brenda Eprile in a statement.

Bissada is stepping into the corner office after a tumultuous period. In April, the OSC alleged Home Capital and three of its former executives misled investors about falsified loan applications in 2015. That triggered upheaval behind the scenes, leading to a board overhaul as Home Capital sought to restore investor confidence.

Meanwhile, there was a run on the bank as depositors fled for the exits. Indeed, Home Capital's high interest savings account balance plummeted from almost $2 billion in late March to $112.1 million as of June 27. The OSC announced a preliminary settlement with Home Capital in mid-June.

Home Capital found its backstop on June 21 when it announced it secured the backing of the world's most famous investor. Warren Buffett stepped in with a new $2-billion credit line to replace an emergency facility Home Capital secured during its liquidity crisis. Buffett also agreed to make up to a $400-million investment, giving him a 38.4-per cent stake in the company.

"I am excited about the opportunity to work with the strong team at Home Capital and build on the Company's leading position in the alternative mortgage lending market," Bissada said in a statement Wednesday. "We want to be the first choice for depositors, borrowers and brokers."

Bissada's first day on the job will be Aug. 3. Home Capital said one of his first duties will be to help the company choose a new CFO.

His appointment won some early praise. Independent mortgage broker Dave Larock told BNN via email Bissada is a “great guy” and an “outstanding choice” to lead Home Capital.

“He is an industry legend who is known as a high-integrity guy who people love to work for.”