Natale is one of three new directors nominated, as the mortgage lender shifts its focus to expansion after weathering a financial crisis five years ago
has nominated three new directors, including veteran telecom executive Joe Natale, as the mortgage lender shifts its focus to expansion after weathering a financial crisis five years ago.
The nominations come after Home Capital reinstated its common share dividend in February. In 2017, the lender faced a liquidity crisis following a regulatory investigation and the departure of founder Gerald Soloway. Investor Warren Buffett’s Berkshire Hathaway Inc. led a recapitalization of the company.
Mr. Natale was a director at Toronto-Dominion Bank, but did not seek re-election to its board this year. Home Capital hired Yousry Bissada as its chief executive in August, 2017, as part of its turnaround strategy; he previously ran a mortgage software business and was an executive at TD and Canadian Imperial Bank of Commerce. Last year, Home Capital earned a $244.7-million profit and the company’s earnings per share increased by more than 40 per cent in each of the past two years.
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