Former RBC exec takes the helm
HomeEquity Bank has appointed a new president, with former RBC executive Katherine Dudtschak (pictured) taking the helm.
Dudtschak, who joined the bank as president in May, will also serve as CEO following the retirement of Steven Ranson at the end of June.
“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 on the Bank’s customers,” Daniel Jauernig, chair of the board of HomeEquity Bank, said in a Press release.
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Dudtschak brings a wealth of experience from her 27-year tenure at Royal Bank of Canada (RBC), where she held various leadership roles. Most recently, she served as executive vice president of RBC’s personal and commercial banking. Before that, she was the EVP and CEO of RBC’s Caribbean banking operations.
HomeEquity Bank, known for its CHIP Reverse Mortgage product, was founded over 35 years ago to help Canadians access equity in their homes. It is a portfolio company of the Ontario Teachers’ Pension Plan Board, which manages retirement income for 340,000 current and retired teachers in Ontario.
Addressing the current economic climate and its impact on older Canadians, Dudtschak commented: “With the state of our economy and society, more Canadians than ever are aging 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.
“We’ve reached the point where the over-55s 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.”
“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,” added HomeEquity board member Jeff Markusson. “With Katherine’s experience and people-first mindset, we knew she was the right person to lead HomeEquity in its next stage of growth.”
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