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Oct 3, 2017

Home Capital executive shuffle continues as two more leave

The building housing the headquarters of Home Capital Group is seen in downtown Toronto

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Home Capital Group Inc (HCG.TO) said on Tuesday two senior executives would be leaving the company, in the latest reshuffle after new Chief Executive Yousry Bissada took charge in August to turn the business around.

The company said Chief Operating Officer Chris Whyte and the executive vice president for residential lending, Pino Decina, will be leaving the company.

Edward Karthaus will take over the job of residential lending sales, while the post of chief operating officer will be scrapped, Home Capital said in a statement.

In August, the company named Canaccord Genuity Group Inc (CF.TO) veteran Brad Kotush chief financial officer.

Bissada has been tasked with rebuilding relationships for the mortgage lender after the ouster of Martin Reid as CEO, the beginning of a series of events which led investors to withdraw 95 per cent of deposits from the lender's high-interest savings accounts.