Industry veteran to lead financial operations after roles with banking giants
MCAN Mortgage Corporation has announced the appointment of Santokh Birk (pictured) as its new senior vice president and chief financial officer, effective October 1.
Birk, a former HSBC and Home Trust executive with over 30 years of experience, will join the company's leadership team, reporting to president and CEO Don Coulter.
"We are excited to have Santokh join MCAN. He brings decades of financial experience and a collaborative, energetic leadership style. He will play a key role in the continued success of MCAN," Coulter said in a press release. “We look forward to having him on our team."
Birk joins MCAN from Home Trust Company, where he served as senior vice president of finance and chief accounting officer. During his tenure at Home Trust, he led several initiatives aimed at improving the company's financial performance and modernizing its finance functions. Prior to that, Birk spent 28 years at HSBC, where he held senior roles in Canada, the Middle East, and the United States.
MCAN also expressed gratitude to Peter Ryan, who has served as interim chief financial officer for the past five months. Ryan will return to his role as vice president and controller. "We would like to thank Peter for his excellent leadership during this transition period," the company said.
MCAN, operating as MCAN Financial Group, is the largest federally regulated Mortgage Investment Corporation (MIC) in Canada. The company invests in a diverse portfolio of Canadian mortgages, including residential and non-residential construction, commercial loans, and other real estate-related investments.
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MCAN also invests in other securities, loans, and real estate investments. It utilizes leverage by issuing term deposits eligible for Canada Deposit Insurance Corporation deposit insurance.
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