Equitable Bank has announced the passing of its chief executive officer at 65
Canada’s mortgage industry is mourning Andrew Moor, the popular Equitable Bank chief executive officer who died unexpectedly over the weekend at 65.
Equitable confirmed his death in a statement this morning. “Our thoughts and sympathies are with the entire Moor family at this difficult time,” the bank said, later announcing chief risk officer Marlene Lenarduzzi as interim CEO, effective immediately.
Its statement described Moor as a “visionary leader” and said Canadian banking was in a better place because of his efforts and “relentless belief that Canadians deserve more.”
Moor and the board hadalready been working on a succession plan, which Equitable spokesperson Maggie Hall described as "very advanced", prior to his passing.
Moor had served as president, chief executive officer and director at EQ Bank since March 2007, and was credited with helping lead the organization through the 2008 financial crisis, building a significant national single-family lending business, establishing the company as a major participant in the Canada Mortgage Bond program, and launching a range of new products and initiatives.
The bank, which currently has $127 billion in assets under management and administration, evolved under Moor’s leadership into a challenger to Canada’s traditional Big Six banking giants, making big gains in recent years.
He was also known as a staunch advocate for the mortgage broker space, telling Canadian Mortgage Professional last year of the importance of “keeping the reputation of the channel in good shape so that mortgage brokers continue to thrive in Canada.”
The mortgage industry paid its respects to Moor on Tuesday morning. Alex Haditaghi, founder of Radius Financial, said he was “heartbroken and deeply shocked” by the news.
Haditaghi described Moor as "one of the most forward-thinking, principled, and innovative executives and leaders our industry has ever seen" and said his impact on the mortgage space would be felt for "generations."
Fair Mortgage Solutions founder Graeme Moss said Moor was a man of “deep integrity and vision” whose loss would be keenly felt in the industry. “His approach to disputes was decisive… getting to the truth quickly,” Moss wrote. “I have a hard time [imagining] he has passed.”
Canadian Mortgage Professional extends our deepest condolences to Andrew Moor’s family and friends, and the entire Equitable/EQ Bank team, on his passing.
