Ontario Teachers-backed HomeEquity Bank appoints new board

• The new board follows Ontario Teachers’ Pension Plan’s acquisition of HomeEquity’s parent in July
• HomeEquity Bank is a provider of the CHIP reverse mortgage
• Dan Jauernig, corporate director and president and CIO of NCM Capital, serves as chair

HomeQ’s HomeEquity Bank has appointed a new board of directors. Joining HomeEquity Bank President and CEO Steven Ranson are Brenda Rideout, Cleo Cheung Goodman, Dan Jauernig, Deepak Khandelwal, Francine Blackburn, Jeff Markusson, Richard Thomas and Trudy Fahie.

Goodman, Markusson and Thomas are with Ontario Teachers’ Pension Plan.

The new board follows Ontario Teachers’ acquisition in July of HomeEquity’s parent from Birch Hill Equity Partners.

HomeEquity Bank is a provider of the CHIP Reverse Mortgage. Dan Jauernig, corporate director and president & CIO of NCM Capital, serves as chair.

“We are excited to welcome a talented and diverse new Board of Directors, who will help drive HomeEquity Bank forward as we challenge stereotypes about the product category and maintain and grow our market leadership,” said Ranson in a statement. “The appointment of the new Board is the next step in our extraordinary growth trajectory, as the importance of our financial solution in helping Canadian homeowners aged 55 plus enjoy a financially secure retirement in the home they love continues to grow.”

HomeEquity Bank had more than $1 billion in reverse mortgage originations in 2021, a first for the bank and a 28 per cent increase over 2020.