Pacific & Western Credit Corp. appoints Ross Duggan as SVP, Lending

LONDON, ON, Dec. 21 /CNW/ - David Taylor, President & C.E.O. of Pacific & Western Credit Corp. (TSX:PWC), is pleased to announce the appointment of Mr. Ross Duggan to the position of Senior Vice President, Lending, at PWC's wholly owned subsidiary, Pacific & Western Bank of Canada ("the Bank").

Mr. Duggan joined the Bank in May, 2001 as Vice President, Real Estate Lending. Prior to joining the Bank, Mr. Duggan held various positions with other Canadian banks where he focused on commercial and corporate financing. Mr. Duggan has over 35 years of lending experience.

David Taylor, President & Chief Executive Officer stated, "I am very pleased that Ross Duggan has taken on the role of Senior Vice President, Lending. Ross is a seasoned banking professional who brings a wealth of experience and expertise to our lending business. Through his new role, Ross will drive a more cohesive and integrated lending program which will allow the Bank to capitalize significantly on this favourable lending environment."

Ross Duggan stated, "This new role presents me with a wonderful opportunity to work more closely with each of our lending teams. We have assembled a group of highly experienced financing professionals with extensive lending expertise and I look forward to working with each of them in exceeding the Bank's lending business objectives."

The Bank, a Schedule I chartered bank, is a branchless financial institution with approximately $1.4 billion in assets. The Bank specializes in providing financing to relatively low risk markets, including government entities, hospitals, school boards, universities and colleges, municipalities, provincial and federal government agencies, and insured residential mortgages.

    
    To receive company news releases, please contact:
    Carla McPhee at carlam@pwbank.com, (519) 675-4204
    

SOURCE Pacific & Western Credit Corp.

For further information: For further information: Director, Investor Relations: Wade MacBain, (800) 244-1509, wadem@pwbank.com; Public Relations & Media: Tel Matrundola, Vice-President, (416) 203-0882, telm@pwbank.com; Visit our website at: http://www.pwbank.com

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Pacific & Western Credit Corp.

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