News
Equitable Group Inc. announces appointment of Andrew Moor as President and Chief Executive Officer
TSX Symbol: ETC TORONTO, Feb. 5 /CNW/ - Equitable Group Inc. today announced the successful completion of its planned leadership transition with the appointments of Andrew Moor as the Company's President and Chief Executive Officer and Geoffrey Bledin as Vice Chairman. Both appointments are effective March 1, 2007. Mr. Moor is an accomplished and respected business executive with more than 25 years of leadership experience. He has held senior positions with a number of leading private and public organizations in the residential mortgage, financial services and manufacturing industries. Most recently, he was President and CEO of Invis Inc., Canada's largest residential mortgage brokerage business. Previously, he was President of SMED International. Mr. Moor is Vice Chair of the Canadian Institute of Mortgage Brokers and Lenders, and a Trustee of Sleep Country Canada Income Fund. He has an MBA from the University of British Columbia and a B.Sc(Eng) from the University of London. Mr. Bledin has served with distinction as Equitable's President and Chief Executive Officer since 1990 and among his many accomplishments, led the Company through its successful initial public offering in 2004. "On behalf of the Board of Directors, I am delighted to welcome Andrew to his new position," said Austin Beutel, Chairman. "Over the course of the past 10 months, we have diligently reviewed the qualifications of many very suitable candidates for this important role. Andrew stood out based on his rich and varied business experience and tremendous knowledge of Canada's residential mortgage lending industry. We are convinced that Andrew will build on what Geoffrey so ably started and take Equitable to the next level, supported by our committed Board and management teams. "It also gives me great pleasure to thank Geoffrey for his outstanding leadership over the past 16 years. Geoffrey will provide full-time support to Andrew this year to ensure a seamless transition and although Geoffrey will be stepping back from day-to-day management, his wise counsel will be available to us long term." Said Mr. Moor: "Equitable has a tremendous track record, many valued partners, a strong team and proven processes for profitable growth. I intend to nurture these advantages and stay true to Equitable's growth strategies. At the same time, I am convinced there are significant opportunities to further advance our niche positions and I will work diligently with our Board and the team to realize our full potential." Said Mr. Bledin: "Andrew is a great choice to lead Equitable. He brings the enthusiasm, drive and skills the Company needs to ensure its long-term progression. With his intimate knowledge of our industry and obvious leadership skills, I foresee a very short acclimatization period and I look forward to supporting Andrew in any way I can." About Equitable Group Equitable Group Inc. provides first mortgage financing through its wholly-owned subsidiary, The Equitable Trust Company. It also offers Guaranteed Investment Certificates to depositors as a nationally-licensed deposit-taking institution. Equitable Trust was founded in 1970, and by following a prudent, results-driven approach, Equitable has become a lead in its primary niches: alternative single family dwelling as well as multi-unit residential mortgage lending. The common shares of Equitable Group Inc. are listed on the Toronto Stock Exchange under the trading symbol of "ETC." For more information visit www.equitablegroupinc.com. Certain forward-looking statements are made in this news release, including statements regarding possible future business. Investors are cautioned that such forward-looking statements involve risks and uncertainties detailed from time to time in the Company's periodic reports filed with Canadian regulatory authorities. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Equitable does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf. %SEDAR: 00020356E
For further information:
For further information: Geoffrey Bledin, President and Chief Executive Officer, Stephen Coffey, Senior Vice President and Chief Financial Officer, (416) 515-7000