Leadership change comes as private lenders navigate growth, regulation and risk
CMI Financial Group named long‑time executive Elizabeth Wood as chief operating officer effective February 1, 2026, consolidating oversight of operations and compliance at one of Canada’s largest private mortgage lenders. The move came as alternative lenders continue to scale up in a higher‑rate, heavily scrutinized market.
Under the reshuffle, Wood absorbed her previous chief administrative officer responsibilities into the expanded COO role while retaining her post as chief compliance officer.
Former COO Mike Spero shifted into a governance position on the CMI MIC Funds advisory board, providing “ongoing guidance and strategic oversight for the platform,” the firm said.
Expanded remit across compliance and operations
Wood has been part of CMI’s senior leadership since 2015, working closely with founder and chief executive officer Bryan Jaskolka through a period that saw the company’s workforce grow from about 10 people to more than 100 and assets under management surpass $1 billion.
“Elizabeth has been instrumental in shaping CMI into the organization it is today,” Jaskolka said.
“She combines strategic judgment with operational rigour and consistently delivers results with integrity and discipline. I’m proud to appoint her as COO as we move into our next phase of growth.”
“I’m honoured to step into the role of Chief Operating Officer,” Wood said.
“CMI has been my professional home for the last decade, and I’m proud of what our team has built–through growth, change, and the continued strengthening of our platform. I’m excited to help lead our next chapter by driving consistent execution, supporting our people, and ensuring we remain service‑focused, risk‑conscious and operationally excellent as we continue to scale.”
Experience rooted in governance and advocacy
Before her promotion, Wood served as executive vice president as well as CAO and CCO, with a portfolio spanning organizational design, regulatory oversight and governance.
Canadian Mortgage Professional highlighted her as a Woman of Influence and as part of its Brokers on Lenders leadership coverage, citing her role in building CMI’s operations infrastructure and scaling originations to make it one of Canada’s largest private lenders.
Outside CMI, Wood sat on Ontario’s Financial Services Regulatory Authority Technical Advisory Committee for Mortgage Brokering and taught in McMaster University’s continuing education programs in business and marketing.
She also advocated for mental health and equity in financial services, serving on the Canadian Neuroendocrine Tumor Society board and chairing the Canadian Lender’s Association diversity, equity and inclusion roundtable.
Reflecting growth in private mortgage market
CMI evolved from a family‑run brokerage founded in 2005 into a vertically integrated platform that originates, underwrites, funds and services private mortgages across Canada through four divisions: CMI Canadian Mortgages Inc., CMI Mortgage Investments, CMI MIC Funds and CMI Mortgage Servicing.
The group surpassed $1 billion in private mortgage assets under management, citing demand from both brokers and institutional investors for alternative capital.
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