EQB builds leadership team for its next chapter welcoming senior PC Financial executives and expanding key mandates

As EQB prepares to close its Acquisition of PC Financial on July 1, 2026, the company announces a strengthened leadership team drawing on talent from both organizations, positioning EQB for a differentiated phase of growth

Key appointments include:

• Ian Hanning from PC Financial to SVP, Credit Cards and Loyalty
• Mark Snyder from PC Financial to SVP, Credit Risk and Data Analytics
• Michaela Garfield from PC Financial to SVP, Customer Growth, Experience and Strategy, Personal Banking
• Puneesh Arora from PC Financial to EVP and Chief Risk Officer, with current EVP and Chief Risk Officer Marlene Lenarduzzi to act as Special Advisor until Jan 1, 2027
• Daniel Rethazy's mandate expanding as EVP Personal Banking to include PC Financial businesses
• Anilisa Sainani's mandate as CFO expanding to include Strategy and Corporate Development
• Gavin Stanley's mandate as CHRO expanding to include Brand and Marketing
• Caleb Rubin appointed as Chief Brand Officer
• Dan Broten appointed Chief Digital Officer
• David Wilkes appointed SVP, Deposits, Payments and Small Business Banking
• Dipti Patel elevated to Chief Credit Officer and Deputy CRO
• Julia Davidson appointed Chief Operating Officer, Commercial Banking
• Lemar Persaud appointed SVP, Investor Relations and Enterprise Performance Management

TORONTO, June 16, 2026 /CNW/ - EQB Inc. (TSX: EQB) today announced a comprehensive set of executive appointments and elevations as the company prepares to close its acquisition ("the Acquisition") of PC Financial¹ from Loblaw Companies Limited ("Loblaw") (TSX: L) on July 1, 2026. This strengthened leadership team brings multiple senior PC Financial leaders onto the EQB Executive Leadership Team (ELT), alongside a series of expanded mandates for existing leaders, building the organizational capabilities required to serve millions of Canadians across a broader and more complex set of financial products and services.

"We are ready to significantly evolve as Canada's Challenger Bank," said Chadwick Westlake, President and CEO. "The bank we are building is a meaningfully different institution. As of July 1, we will add millions more customers, broader product lines, new sophistication in credit cards, insurance and deposits and a new accountability to the Canadians who will be counting on us to deliver. Our leadership team has to match that ambition - and I'm confident that this strengthened team does, as we're bringing together exceptional capabilities from both organizations. I'm proud of the talented group of leaders we've assembled and looking forward to what we'll build together."

PC Financial leader appointments to ELT effective July 1, 2026

Ian Hanning joins as SVP, Credit Cards and Loyalty, reporting to Daniel Rethazy. Mr. Hanning serves as Chief Financial Officer of PC Financial, bringing over 25 years of leadership experience across the UK and Canada. His expertise spans financial planning and analysis, treasury, capital markets, and accounting within the financial services sector. A CPA and Fellow of the Chartered Institute of Management Accountants (FCMA, CGMA), he combines deep financial discipline with operational knowledge of the cards that is now central to EQB's growth strategy. Mr. Hanning also serves on the Board of Directors of Enactus Canada.

Mark Snyder joins as SVP, Credit Risk and Data Analytics, reporting to Daniel Rethazy. Mr. Snyder brings more than two decades of senior leadership experience in financial services. At PC Financial he currently serves as SVP, Credit Risk and Data Analytics, leading teams responsible for credit strategy, fraud management, modelling, and data strategy. Mark was central to PCF's ability to grow a large consumer credit portfolio responsibly. His ability to connect growth ambition with credit discipline will be central to EQB's expanded consumer lending and cross-sell strategy.

Michaela Garfield joins as SVP, Customer Growth, Experience and Strategy, Personal Banking, reporting to Daniel Rethazy. Ms. Garfield serves as Vice President, Digital Products, Platforms and Growth at PC Financial, where she is focused on brand development, digital platform strategy, and growth initiatives over six years. She plays a leading role in how customers discover, join, and interact with financial products, building more connected and personalized experiences at scale. In this new mandate Ms. Garfield will also report to the CEO on enterprise transformation priorities and the integration of experience across the combined platform.

Puneesh Arora joins as EVP and Chief Risk Officer, reporting directly to the CEO. Mr. Arora serves as CRO at PC Financial, where he has built deep expertise in credit cards, consumer lending, and payments risk management. He brings strong capability in treasury and capital management, deep regulatory experience having worked in a supervisory capacity at OSFI, and a background in treasury, mortgages and commercial lending at ICICI Bank Canada. With over 15 years in senior financial services roles, he is well regarded across the Canadian financial industry. His appointment reflects EQB's approach to integration: one bank, one leadership team, built with the right combination of expertise.

Chief Risk Officer transition

With the PC Financial transaction ready to close, Marlene Lenarduzzi has decided it is the right time to step away from EQB. Ms. Lenarduzzi has served as Chief Risk Officer since joining EQB nearly three years ago. She joined the organization at a formative stage and played a central role in strengthening and professionalizing the risk function. Under her leadership, EQB's risk management framework matured significantly, with enhanced capabilities across credit risk, enterprise risk, regulatory compliance, and AML. She helped position the bank to meet the higher standards of complexity and scrutiny that come with operating at greater size, and the foundation she built is evident in how well-prepared EQB is for this next chapter. Ms. Lenarduzzi will remain engaged as a Special Advisor through to the beginning of 2027.

"Marlene joined us at the right time and brought exactly the right expertise," added Mr. Westlake. "She elevated our risk function in ways that will outlast her tenure, and she did it with commitment and professionalism. On behalf of the Board and the entire leadership team, I want to express our deep appreciation for what she helped us build here. We wish her every success in what comes next."

EQB expands mandates for existing leaders

Daniel Rethazy, EVP Personal Banking, officially takes on credit cards, insurance, and distribution capabilities from PC Financial, plus additional refined organizational structure with deposits and digital.

Anilisa Sainani, EVP and CFO, will take on expanded responsibility for Strategy and Corporate Development. At EQB's new scale, the financial and strategic planning functions will operate as a unified capability under her leadership.

Gavin Stanley, EVP and Chief Human Resource Officer, will take on expanded responsibility for Brand and Marketing, ensuring seamless alignment between EQB's mission, brand, culture and communications.

Caleb Rubin is appointed Chief Brand Officer, reporting to Gavin Stanley. Mr. Rubin has dynamic experience across leading consumer brands and financial institutions and previously served as head of marketing for EQ Bank. He rejoined recently to support the PC Financial integration. Making this role permanent reflects EQB's view that brand is a driver of growth, not a support function.

Dan Broten takes on a new mandate as Chief Digital Officer, reporting to Daniel Rethazy. In this role, Mr. Broten will be responsible for building and driving integrated digital capabilities across Personal Banking.

David Wilkes, currently SVP and Chief Strategy and Growth Officer, moves to a newly created role of SVP, Deposits, Payments & Small Business Banking effective August 1, reporting to Daniel Rethazy.

Dipti Patel, currently SVP and Chief Credit Officer, is elevated to Chief Credit Officer and Deputy CRO. Ms. Patel's leadership in credit risk and broader enterprise risk capabilities gives the risk function strong institutional continuity alongside its new leadership, and she will begin reporting to Puneesh Arora effective July 1.

Julia Davidson will assume the new role of Chief Operating Officer, Commercial Banking, effective immediately, continuing to report to Darren Lorimer. This appointment reflects the continued growth of the business and an increased focus on operational excellence.

Lemar Persaud is elevated to SVP, Investor Relations and Enterprise Performance Management. Mr. Persaud will continue to lead Investor Relations plus Financial Planning & Analysis functions of EQB.

In addition, EQB adds a series of other leadership appointments, including John Simoes as SVP & Chief Accountant and Prakash Bector as VP and Head of Sales for Single Family and Reverse Mortgages. EQB has also established a new Office of the CEO, led by Kristen Murray, who is promoted to Vice President. Together, these changes reflect a broader transformation of the organization's leadership structure, underscoring a renewed focus on strategic growth, operational alignment, and enhanced customer experience.

Disclaimer

1. On December 3, 2025, EQB and Loblaw entered into a definitive agreement pursuant to which EQB will acquire PC Financial, which is comprised of President's Choice Bank ("PC Bank"), PC^® Financial Insurance Agency Inc., PC^® Financial Insurance Brokers Inc. and certain other affiliated entities of PC Bank. In connection with the closing of the acquisition, EQB will enter into a long-term strategic relationship with Loblaw pursuant to a commercial agreement to become the exclusive financial partner of the PC Optimum™ loyalty program.

About EQB Inc.

EQB Inc. (TSX: EQB) is a leading digital financial services company with $144 billion in combined assets under management and administration (as at April 30, 2026). It offers personal and commercial banking services through Equitable Bank, a wholly owned subsidiary and Canada's seventh largest bank by assets, and wealth management through ACM Advisors, a majority-owned subsidiary specializing in alternative assets. As Canada's Challenger Bank™, Equitable Bank has a clear mission to drive change in Canadian banking to enrich people's lives. It leverages technology to deliver exceptional personal and commercial banking experiences and services to over 827,000 customers and more than six million credit union members through its businesses. Through its digital EQ Bank platform (eqbank.ca) its customers have named it one of Canada's top banks on the Forbes World's Best Banks list (2021 – 2025).

To learn more, please visit eqb.investorroom.com or connect with us on LinkedIn. 

Investor contact:
Lemar Persaud
SVP and Head of Investor Relations and Enterprise Performance Management
[email protected] 

Media contact:
Danielle Mason
Director, PR and Communications
[email protected]

SOURCE EQB Inc.