Equitable Financial institution publicizes sudden passing of President and CEO Andrew Moor

The corporate described his demise as an “surprising” loss and paid tribute to his 17-year management of EQB and Equitable Financial institution, which he helped develop into Canada’s seventh-largest financial institution by property.

“Andrew was a visionary chief and a fierce advocate for change and innovation in banking that advantages all Canadians,” mentioned Board Chair Vincenza Sera in a press release. “He instilled a tradition at EQB that’s each forward-looking and trustworthy to the sound rules of prudent banking that engender public belief. He can be missed.”

On the time of his demise, Moor was the longest-serving financial institution CEO within the nation, having joined in 2007. Beneath his tenure, EQB expanded from a modest belief firm with $4.4 billion in property and 107 staff right into a nationwide monetary providers participant with $134 billion in mixed property underneath administration and almost 2,000 staff.

His legacy consists of launching EQ Financial institution in 2016, now acknowledged as one in every of Canada’s top-ranked digital banks, and constructing EQB into a significant securitizer of CMHC-insured multi-unit residential mortgages—a key contributor to the inexpensive housing sector.

Moor was additionally identified for championing neighborhood causes and fostering a values-based tradition inside the financial institution.

Moor additionally performed a management position within the broader mortgage trade, serving as Chair of Mortgage Professionals Canada (then CAAMP) from 2007 to 2008. Reflecting on his time in that place, Moor mentioned:

“Our position helps Canadians construct higher lives, communities and futures with the selection they deserve. I’m proud to have been part of this journey as Chair and proceed to actively assist the channel as EQ Financial institution drives optimistic change for Canadians alongside our dealer companions.”

His phrases mirrored a deep and lasting dedication to mortgage brokers and to giving Canadians actual alternative in how they finance their houses, one thing he championed all through his profession.

Management transition already underway

The board has appointed Chief Threat Officer Marlene Lenarduzzi as interim President and CEO, efficient instantly. She has additionally been named to the boards of Equitable Financial institution and EQB Inc.

Lenarduzzi brings greater than 25 years of expertise in banking technique, danger administration, regulatory affairs and operations. The board emphasised its full confidence in her management as EQB enters this transitional interval.

The corporate mentioned it had already been making ready for Moor’s retirement, confirming {that a} everlasting CEO succession plan had been nicely underway for 2 years, involving each inner and exterior candidates. The board mentioned it expects to announce a brand new everlasting CEO “within the very close to time period.”

“Because of Andrew’s impressed management, EQB has the gifted folks, the high-performance tradition and the confirmed shareholder worth creation methods to excel in his absence,” mentioned Sera.

Paul Grewal, President of Highclere Capital and a long-time trade chief, first met Andrew Moor throughout his tenure as CEO at Invis.

He instructed Canadian Mortgage Developments that he recollects Moor as “an clever and articulate govt who helped remodel the brokerage into a bigger, extra unified group.” Later, when Mortgage Professionals Canada was looking for new board members and potential Chairs, Moor stood out as “a large in our trade,” Grewal says.

Although Moor was within the means of transitioning to Equitable Financial institution on the time, Grewal says he remained dedicated to advancing MPC’s governance mannequin, intentionally steering the Board towards long-term technique relatively than day-to-day operations.

“He clearly was a visionary and knew the Canadian monetary providers market required a transformative digital financial institution to compete in opposition to the established banking sector and labored with mortgage brokers who had been a necessary distribution channel,” he mentioned.

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Final modified: June 25, 2025