John Marsh will be replaced on the board by legal consultant James Lisson who has 39 years’ experience in law firms and as an advisor of the Canadian Department of Justice.
“Jim Lisson is yet another excellent addition to the Home Capital Board of Directors as we move ahead with our governance renewal,” said Brenda Eprile, Chair of the Board of Home Capital. “He brings deep expertise in areas that are vital to our future success, and we look forward to his counsel.”
The mortgage lender has also updated its liquidity and credit position. As of Thursday, it had around $1.47 billion available including $600 undrawn funds on its line of credit. The decline in Home Trust HISA deposits was around $120 million, slightly higher than the previous day.
More market update:
Home Capital Group has announced that one of its original investors has stepped down from its board of directors.