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Equitable Bank Hires New CFO; Lorimer to Head Commercial Banking Division

October 21, 2020, 07:22 AM

Equitable Group Inc. announced Chadwick Westlake will join the Management Committee of the Bank as Senior Vice-President and Chief Financial Officer, effective Nov. 2. He comes to Equitable following more than 18 years at Scotiabank in progressively senior roles, including Senior Vice-President and Chief Financial Officer of Canadian Banking, and most recently Executive Vice-President of Enterprise Productivity and Canadian Banking Finance.

Chadwick will be responsible for all core finance functions, as well as the Bank's Treasury and securitization activities, Corporate Development, and Legal.

“Chadwick is joining Equitable at a time where we are poised for growth and continued successes,” said Andrew Moor, CEO, Equitable Bank. “Chadwick's expert skills and energy are the perfect match for our organization's challenger mindset. We're thrilled to have him join our team.”


The new CFO is one piece of a broader plan. This plan includes a realignment of the organization into two key divisions:

  • Commercial Banking led by Darren Lorimer as Senior Vice President and Group Head of Commercial Banking. Includes Business Enterprise Solutions, the Specialized Finance Group, Multi-Family Insured Mortgage Lending, the Commercial Finance Group, and Equitable's equipment leasing business, Bennington Financial.
  • Personal Banking led by Mahima Poddar as SVP and Group Head of Personal Banking. Most recently, Mahima was running EQ Bank, Corporate Development and Marketing. Includes EQ Bank, Canada's leading digital bank, the Single-Family mortgage businesses, the decumulation lines of business in Reverse Mortgages and CSV Lending, Marketing, and the distribution of deposit products through the Financial Planning channel.

The balance of the Management Committee is made up of Ron Tratch, SVP and Chief Risk Officer, Dan Dickinson, SVP and Chief Information Officer, and Jody Sperling, SVP and Chief Human Resources Officer.

"As we continue to build our capabilities as Canada's Challenger Bank, these refinements to our organizational design will allow Equitable to maintain the flexibility and agility we need to continue our quest to drive change in Canadian banking; real change that will enrich people's lives," noted Moor.  "With the addition of Chadwick to the senior executive team and refocusing our businesses around key customer segments, I have no doubt we will continue to drive better and more meaningful banking experiences – ones that provide far more value for our customers. Banking is changing fast and Equitable is determined to remain at the forefront of this change. With our talented team of 900 employees organized around leaders with clear and demanding mandates in their respective areas, I am more confident than ever in the future success of the Bank."

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