August 29, 2017 / 10:40 AM / 2 years ago

Home Capital names Canaccord veteran Brad Kotush CFO

FILE PHOTO - The entry to the Home Capital Group's headquarters is seen at an office tower in the financial district of Toronto, Ontario, Canada on May 1, 2017. Picture taken using a wide angle lens. REUTERS/Chris Helgren/File Photo

(Reuters) - Canadian lender Home Capital Group Inc (HCG.TO) on Tuesday named Canaccord Genuity Group Inc (CF.TO) veteran Brad Kotush as its chief financial officer, effective Sept. 1.

Home Capital said interim CFO Robert Blowes would step down and remain on the company’s board.

The company last month named mortgage industry veteran Yousry Bissada its CEO, tasking him with rebuilding relationships after the ouster of CEO Martin Reid, which was the beginning of a series of events that led investors to withdraw 95 percent of deposits from the lender’s high-interest savings accounts.

The company’s business has stabilized since it secured a C$2 billion line of credit from Warren Buffett’s Berkshire Hathaway Inc (BRKa.N).

Kotush, most recently, was CFO and risk officer at Canaccord, Home Capital said on Tuesday.

Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Sriraj Kalluvila and Sayantani Ghosh

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