Charlene Valiquette, CA, MBA and the Hon. Stockwell Day, PC
appointed to the Board of Directors.
TORONTO, Nov. 10, 2011 /CNW/ - Pierre Lebel, Chairman of the Board of
HOMEQ Corporation is pleased to announce the appointment of Charlene
Valiquette, CA, MBA and the Hon. Stockwell Day, PC to the Board of
Charlene Valiquette is a chartered accountant and a seasoned executive with a track record
of achievement in Canada's financial services industry. She is
currently a director of ShawCor Ltd., a global energy services company
and was previously on the board of Western Life Assurance Company
before its sale to Desjardins Group. Prior to serving on boards of
publicly traded companies, specifically related to the financial
services sector, Ms. Valiquette held the position of Chief Financial
Officer for ING Canada Inc., NN Financial, and Ontario Blue Cross.
Stockwell Day recently retired from politics after a 25 year career in
federal and provincial government. During his time in public life, Mr.
Day held a variety of senior roles in the government of Alberta, later
moving to lead Canada's Official Opposition and subsequently held some
key portfolios at a federal level: Minister of Public Safety, Minister
of International Trade and Minister for Asia-Pacific Gateway, President
of the Treasury Board, and member of the Cabinet Committee on
Priorities and Planning. After retiring from politics earlier in 2011,
Mr. Day started a business advisory firm and serves on a variety of
boards including Telus Corporation.
The new appointments coincide with the impending resignations of two
members of the Board of Directors. Paul Damp and Sydney McMorran have
decided not to stand for re-election at the next Annual General Meeting
and will step down from their positions in the near future.
Mr. Damp joined the Board in 2002 when Home Equity Income Trust, a
predecessor entity to HOMEQ Corporation, completed its initial public
offering. Mr. McMorran has served on the Board of Directors since
1995. "On behalf of the shareholders, we thank them both for their
outstanding contributions to the Board and wish them continued success
in all their endeavours. I also wish to thank them personally for their
guidance and counsel during a period of rapid growth and transformation
for HOMEQ", commented Pierre Lebel.
HOMEQ Corporation's wholly owned subsidiary HomEquity Bank is the only
national provider of reverse mortgages to homeowners aged 55 and over,
Canada's fastest growing demographic segment. HomEquity Bank originates
and administers Canada's largest portfolio of reverse mortgages under
the CHIP Home Income Plan brand. As of September 30, 2011, the mortgage
portfolio comprised approximately 8,700 reverse mortgages with an
accrued value of $1.1 billion.
With over a quarter century of experience in the marketplace, HomEquity
Bank enjoys a strong financial position with access to diverse, and
cost-effective funding sources. With a seasoned management team,
product expertise and skillful marketing, the organization is well
positioned for market leadership and growth.
HOMEQ's shares trade on the Toronto Stock Exchange under the symbol
HEQ. For more information, visit www.homeq.ca.
SOURCE HOMEQ Corporation
For further information:
President and Chief Executive Officer