Specialist reverse mortgage lender turned to veteran executive for next phase of growth
HomeEquity Bank appointed industry veteran Yousry Bissada as its new president and CEO, installing a seasoned leader as the Toronto-based lender prepared to mark its 40th anniversary in 2026.
The Schedule 1 bank, owned by Ontario Teachers’ Pension Plan Board, builds its business around reverse mortgages for Canadians aged 55 and over, a segment that has seen sustained growth in recent years as more older homeowners turn to housing wealth to support retirement.
Bissada brings more than three decades of experience across mortgage lending, deposit-funded mortgages and digital transformation. He previously held senior roles across the mortgage and financial services sectors and is known for a focus on growth and innovation with tight risk controls, the bank said.
“It’s an honour to join HomeEquity Bank as it enters its 40th year. I’ve admired this company and its people, watching as it built a reputation for empowering older Canadians and their families to thrive financially,” said Bissada.
“I’m excited to be part of this team and help grow something truly special. I also look forward to once again working with mortgage broker partners across the country.”
“On behalf of the board, we are thrilled to welcome Yousry to HomeEquity Bank. His deep expertise is exactly what the organization needs to continue its track record of responsible growth and industry leadership,” said Dan Jauernig, interim president and CEO, who returns to his role as chair of the bank’s board.
“We are confident Yousry’s leadership would drive impactful innovation and deliver lasting value for our clients and stakeholders.”
Founded in 1986 as Canadian Home Income Plan Corporation, HomeEquity Bank became the first Canadian bank to offer reverse mortgages to homeowners aged 55 and older. It later rebranded its core product as the CHIP Reverse Mortgage and expanded nationally, before receiving approval in 2009 to operate as a chartered bank.
The lender broadened its suite over time to include Income Advantage, a product designed to provide regular retirement income draws, CHIP MAX for higher initial equity access, CHIP Open for short‑term needs with flexible prepayment, and HomeBridge, a digital solution intended to help clients use home equity to support intergenerational gifting.
By the end of 2022, the bank’s mortgage portfolio exceeded $5 billion, growing at about 23% annually, reflecting rising demand for reverse mortgage products among older homeowners.
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