EQB announces finance leadership change

TORONTO, Feb. 25, 2025 /PRNewswire/ - EQB Inc. (TSX: EQB) today announced that Chadwick Westlake will step down as Senior Vice President and Chief Financial Officer effective March 4, 2025, to take on a new leadership role outside of the banking industry.

"Chadwick's disciplined and highly effective leadership over the past four years has made a meaningful difference to EQB and our entire team. He made his mark with the successful launch of Equitable Bank's covered bond programme, EQB's initial foray into the limited recourse capital note market, the financial aspects of the acquisitions of Concentra Bank and our interests in ACM Advisors and his spirited engagement with our shareholders and the investment community at large. EQB is stronger for Chadwick's efforts during his time with us, and we wish him the best in his next chapter," said Andrew Moor, President and CEO, EQB.

EQB will announce the appointment of a new Chief Financial Officer in due course and will draw on its deep talent pool in finance and treasury to ensure continuity of approach. David Wilkes, Vice President and Head of Finance, will continue to lead key roles and responsibilities within the finance function. Mr. Wilkes joined EQB in 2022 has held increasingly senior positions, bringing a wealth of experience in corporate development, investor relations, M&A and financial and regulatory reporting. Before joining EQB, Mr. Wilkes served as a partner at McKinsey & Company where he helped financial services organizations across North America develop and execute corporate strategy, drive enterprise performance transformations and optimize capital allocation. He holds a BASc in Engineering Science from the University of Toronto and an MBA from the Wharton School, University of Pennsylvania.

In addition, Tim Charron, Vice President and Treasurer, will report directly to the CEO. Mr. Charron has more than 25 years of experience in the financial industry, including eight years with Equitable Bank where he established a best-in-class treasury function. Prior to EQB, he served as Vice President, Asset Liability Management and Strategy, Treasury and Balance Sheet Management at TD Bank. There, he was responsible for global non-trading market risk and hedge strategy for a $1 trillion global balance sheet and developed his deep expertise in capital, funding, liquidity and risk management. Mr. Charron holds a BMath from the University of Waterloo and is an Associate of the Canadian Institute of Actuaries.

"I am confident in EQB's future and clear vision for growth under the experienced guidance of our world-class team. I look forward to working with David, Tim and the broader finance team to build on EQB's performance while we fulfill our purpose of driving change in Canadian banking to enrich people's lives," concluded Mr. Moor.

About EQB Inc. 
EQB Inc. (TSX: EQB) is a leading digital financial services company with $132 billion in combined assets under management and administration (as at January 31, 2025). It offers banking services through Equitable Bank, a wholly owned subsidiary and Canada's seventh largest bank by assets, and wealth management through ACM Advisors, a majority owned subsidiary specializing in alternative assets. As Canada's Challenger Bank™, Equitable Bank has a clear mission to drive change in Canadian banking to enrich people's lives. It leverages technology to deliver exceptional personal and commercial banking experiences and services to over 700,000 customers and more than six million credit union members through its businesses. Through its digital EQ Bank platform (eqbank.ca), its customers have named it one of Canada's top banks on the Forbes World's Best Banks list since 2021.        

Please visit eqb.investorroom.com for more details. 

Investor contact: 
Mike Rizvanovic
Managing Director, Investor Relations
investor_enquiry@eqb.com

Media contact: 
Maggie Hall
Director, PR & Communications
maggie.hall@eqb.com

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SOURCE EQB Inc.