Home Capital exec shuffle sees one VP replaced and another role eliminated | iNFOnews | Thompson-Okanagan's News Source

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Home Capital exec shuffle sees one VP replaced and another role eliminated

October 03, 2017 - 10:42 AM

TORONTO - Two more Home Capital Group Inc. (TSX:HCG) executives have left the company, with one being replaced and another's position eliminated.

The Toronto-based alternative lender says Pino Decina, executive vice-president of residential lending, and Chris Whyte, executive vice-president and chief operating officer, have departed from their roles at the organization.

Home Capital says Edward Karthaus, whose was previously with D+H and Filogix LP, will replace Decina on Oct. 10.

The company does not intend to fill Whyte's COO position and will instead create a new chief information officer role to focus on improving its technology.

The executive turnover follows the departure last week of Greg Parker, who in July helmed the newly established position of executive vice-president of strategy at Home Capital, before leaving to join rival mortgage lender Street Capital Group Inc. (TSX:SCB)

Home Capital also announced this week that is has eliminated 65 jobs from its workforce as part of a program to cut $15 million in annual costs.

The lender says after factoring in those latest job cuts, the company's head count has been reduced by 10 per cent since the end of June.

News from © The Canadian Press, 2017
The Canadian Press

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