New HomeEquity Bank CEO to Continue Customer-Centric Growth

Industry veteran Katherine Dudtschak becomes President and CEO

TORONTO, July 2, 2024 – HomeEquity Bank, provider of the CHIP Reverse Mortgage, is pleased to welcome Katherine Dudtschak as its new CEO. Ms. Dudtschak joined the Bank as President on May 1 following the announcement that former President and CEO Steven Ranson planned to retire at the end of June.  

As President and CEO, Ms. Dudtschak has officially assumed leadership of the federally regulated Schedule 1 Bank, overseeing its strategic vision for customer-centric growth as it provides innovative financial solutions to help Canadians 55+ live in the homes they love.  

“With Katherine’s extensive experience across the financial services industry and with developing high-performing teams, we believe she is well positioned to build for the future and make a positive impact for the Bank’s customers,” said Daniel Jauernig, Chair of the Board of HomeEquity Bank. 

“As the Canadian population ages, it has become increasingly important to look at how financial services organizations are serving and supporting our country’s largest demographic. With Katherine’s experience and people-first mindset, we knew she was the right person to lead HomeEquity in its next stage of growth,” said Jeff Markusson, Senior Managing Director, Financial Services at Ontario Teachers’ Pension Plan and member of the Bank’s Board of Directors. 

Ms. Dudtschak brings deep skills and personal and commercial banking experience to continue the Bank’s mandate of providing specialized financial services for this segment of our society, as economic pressures continue to change the life plans for many in Canada. An Ipsos report from earlier this year showed more than 70 per cent of Canadians 55+ are homeowners and, while 78 per cent have savings, almost half say it’s less than $100,000.  

“With the state of our economy and society, more Canadians than ever are ageing with debt, limited cash savings and shrinking pensions. They’re looking at the equity and savings built up in the homes they love as a path to continued independence and dignity,” said Ms. Dudtschak. “We’ve reached the point where the over-fifty-fives are the largest demographic in Canada, and HomeEquity Bank is purely dedicated to understanding and serving the diversity of need within this vibrant and dynamic population.”  

HomeEquity Bank is the Canadian reverse mortgage market leader, having helped establish the category of safe, secure and easy financial solutions that help Canadians 55+ access the equity they’ve built up in their homes.  

The Bank has seen a strong and steady upward trajectory over the last three years, growing its portfolio by more than $1 billion year-over-year, with a total portfolio of nearly $8 billion in 2023. Under Ms. Dudtschak’s dedicated and passionate leadership, this growth is reinforced by ongoing robust investments in research, technology and talent across the business that reflect the reality of what ageing looks like in Canada today.  

About HomeEquity Bank 

HomeEquity Bank is a Schedule 1 Canadian Bank offering a range of reverse mortgage solutions including the flagship CHIP Reverse Mortgage™ product. The company was founded more than 35 years ago to address the financial needs of Canadians who wanted to access the equity of their top asset – their home. The Bank is committed to empowering Canadians aged 55 plus to live the retirement they deserve, in the home they love. HomeEquity Bank is a portfolio company of Ontario Teachers’ Pension Plan Board, a global investor that delivers retirement income for 340,000 current and retired teachers in Ontario. For more information, visit www.chip.ca. 

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