Bank names successor
HomeEquity Bank has announced that longtime president and CEO Steven Ranson will be retiring after 27 years of service. Industry veteran Katherine (Katie) Dudtschak will succeed him as CEO.
Ranson joined the Toronto-based reverse mortgage lender in 1997. During his tenure, the bank's workforce grew from 36 employees to over 300, with total mortgages under management increasing from $100 million to nearly $8 billion.
“We have achieved what I set out to achieve many years ago; to establish reverse mortgages and HomeEquity Bank as a respected choice for older Canadians,” Ranson said in the company’s press release. “I feel confident that this is the right time to pass the torch to a new leader who will continue to build on our long track record of success.”
Dudtschak, the newly appointed president and CEO, comes to HomeEquity Bank with a background in banking, most notably as the executive vice president of regional banking at RBC. There, she led a large team and played a crucial role in developing RBC's omni-channel distribution strategy. Dudtschak's leadership extended to RBC's operations in the Caribbean, where she served as CEO.
Dudtschak will step into her role as president on May 1, with Ranson continuing as CEO until his retirement on June 30. Dudtschak will then assume full leadership responsibilities as president and CEO on July 1, reporting directly to the board of directors.
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Daniel Jauernig, chair of the board, commented: “It’s been an honour working with Steve these past 27 years as he built HomeEquity Bank into the leading national provider of reverse mortgages in Canada. He is a committed and passionate leader, focused on customer satisfaction and employee engagement. We thank him for his many contributions over the years that have positioned the bank for continued growth and success. I wish him all the best in his retirement and future endeavours.”
“I am honoured and incredibly proud to be joining the HomeEquity Bank team,” Dudtschak said. “Congratulations, Steve, on all you have given and achieved. HomeEquity Bank is a very special organization that addresses an important and growing need in our society. I look forward to being part of leading and building the bank for the future.”
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