TORONTO, July 5, 2013 /CNW/ - On behalf of the Board of Directors of Canadian First Financial Holdings Limited ("Canadian First"), Peter Wallace, Chairman of the Board, is pleased to announce that the Minister of Finance (Canada) has issued letters patent to incorporate a Schedule I bank (the "Bank") under the Bank Act (Canada) as an indirect wholly owned subsidiary of Canadian First. The letters patent incorporating the Bank were issued on June 26, 2013. Canadian First will be continuing the regulatory process with the goal of the Bank commencing operations later this year.
"Our unique business model enables independent financial professionals to do more for their customers. The approval of the license is a landmark step towards creating a new and different banking service for Canadians," said Peter Vukanovich, President and CEO.
Canadian First will provide one stop shopping convenience through its locally-owned financial centres providing customers with banking services, mortgages, wealth management and insurance products.
"We're attracting high quality experienced professionals in the financial services industry to join our team. These leaders have deep customer relationships and are interested in doing more for their clients through product and service excellence," said Karl Straky, Founder and Chief Commercial Officer.
About Canadian First
Canadian First partners with top financial service professionals by promoting independent local ownership. We believe that Canadians deserve the best possible advice and the choice of dealing with their mortgage, wealth management or insurance professional for all of their banking and financial needs. We are committed to empowering our network of financial services professionals with the ability to do more for their customers while creating a more valuable and sustainable business for themselves.
To help guide us on our mission, Canadian First has assembled an accomplished and distinguished leadership team and board of directors with extensive financial services and technology experience.
For more information about our people, our vision and this exciting milestone, please visit our website at http://www.canadianfirst.com
Notes to Editors
This news release contains forward-looking statements that relate to Canadian First's current expectations and view of future events.
Image with caption: "Canadian First Financial Holdings Limited (CNW Group/Canadian First Financial Holdings Limited)". Image available at: http://photos.newswire.ca/images/download/20130705_C5668_PHOTO_EN_28788.jpg
SOURCE: Canadian First Financial Holdings Limited
For further information:
for immediate inquiries - Joe Pickerill at StrategyCorp Inc. 647-531-4061