Well-known executive steps away from role with Community Trust
Wealth One Bank of Canada has added a big name to its senior management team, appointing former Community Trust executive Grant Armstrong as vice president and chief credit officer.
Armstrong, who spent the past six years at Community Trust in a series of senior sales and originations roles, said the move followed what he described as a formative chapter in his career.
“After six incredible years, I’ve decided to step away from my role as Head of Distribution at Community Trust. I’m extremely grateful for the relationships, experiences, and growth during my time there. It’s been a privilege to work alongside such a talented team and to partner with so many outstanding mortgage brokers. I’m proud of what we achieved together," he announced on a LinkedIn post.
“I’m excited to share that starting in January I’m joining Wealth One Bank of Canada as Vice President & Chief Credit Officer, becoming part of the Senior Management team led by John Webster. I’m energized by this opportunity and looking forward to building, growing, and continuing to partner closely with the broker community in this next chapter."
Armstrong joined Community Trust in 2020 as director of national sales before moving through director and head roles in sales, lending and mortgage originations.
His tenure coincided with record growth and an intensified focus on broker experience and underwriting quality, themes he highlighted in an interview with Canadian Mortgage Professional.
Armstrong brings more than two decades of frontline and leadership experience to the new role with Wealth One. Before joining Community Trust in 2020, he spent almost 14 years at RBC and CIBC in specialist and leadership posts, including senior and then national director roles overseeing mortgage options specialists and driving “record breaking volume” across a national sales force.
Earlier in his career, he held positions with MCAP’s subprime division, GE Mortgage Insurance and other alternative and prime lenders. Armstrong also sat on the board of Mortgage Professionals Canada (MPC), as well as the Orangeville OPP Detachment Board.
Wealth One – a Schedule I, digitally focused bank that targets under‑served borrowers including newcomers and self‑employed clients – has been expanding its mortgage and deposit offerings and recently underscored “tremendous growth over the past seven years.”
Wealth One held C$516 million in assets as of April 30, mostly in mortgages, according to Canada’s banking regulator.
Community Trust, meanwhile, is a flexible alternative to traditional institutions, with a focus on residential and rental mortgages, refinances, and deposit and GIC products across Canada. The trust company, founded in 1975 and now a Questrade subsidiary, is regulated by the Office of the Superintendent of Financial Institutions (OSFI) and is a member of the Canada Deposit Insurance Corporation (CDIC).
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