Mowat has steered the provincial bank and mortgage lender through some tough years including the global financial crisis but feels that a decade at the helm of a major company is the right duration for a leader.
“After that, it’s time to infuse the company with new ideas and approaches,” he said. “We have incredible plans in place and a new leader can not only build on them but make them even better. That’s the critical role leaders play and I’m confident that the next leader for ATB will do just that.”
The process of finding that new leader will begin immediately with the intention of announcing the new president and CEO in May 2018.
Mowat says that he is incredibly proud of the company, not just for how it has helped Albertans with their financial needs, but also for its consistent ranking as one of Canada’s best workplaces.
ATB’s board chair Brian Hesje paid tribute to Mowat’s achievements.
“Dave is a visionary leader and he has been instrumental in transforming ATB from a more traditional financial institution to an innovative, forward-thinking company that’s constantly developing new and better ways to serve our customers,” said Hesje. “He’s certainly guided the company through some challenging times and, while we’ll definitely miss his leadership, we’re in a strong position to build on the foundation he’s put in place, especially with the team of people at ATB.”
More market update:
Dave Mowat, president and CEO of ATB Financial for 11 years, has announced he will step down in June this year.