EDMONTON, Aug. 30, 2012 /CNW/ - Canadian Western Bank (TSX: CWB) (CWB or the Bank) today announced that its Board of Directors has appointed Chris Fowler as the company's new President and Chief Operating Officer (COO). Larry Pollock, CWB's long-serving President and Chief Executive Officer (CEO) will maintain the title of CEO until he steps down on March 7, 2013, at the Bank's 2013 Annual Meeting of shareholders.
"After extensive and ongoing work by our Board over the past number of years on the topic of succession, we are very pleased to appoint Chris Fowler as CWB's new President and COO," said Allan Jackson, Chair of CWB's Board of Directors. "Our Board's recognition of the exceptional performance and depth of CWB's current executive team was a defining factor in our decision to select leadership succession from within the company. Over the course of more than 21 years with CWB, Chris has contributed greatly to the success of our proven business model, while also demonstrating the attributes and decision-making capabilities we believe are necessary to effectively lead our group of companies in the next phase of development and growth. Chris' breadth of experience, which includes extensive expertise in the areas of commercial banking and credit risk management, combined with his strategic vision for the future and strong belief in our corporate culture, confirmed to our Board that he is the right choice for this position."
Chris, 52, has a Master's Degree in Economics from the University of British Columbia and started his banking career in 1985 with the Continental Bank of Canada. He joined CWB in 1991 and has consistently demonstrated thoughtful and focused leadership in progressively senior positions. In his role as Chief Operating Officer, he is primarily responsible for banking operations and credit risk management.
"I am honoured to have been selected as CWB's President and COO, and am very excited to take on the opportunity of building on the highly successful and growing organization that Larry and the rest of our team, including our more than 1,900 employees, have created," says Chris. "My primary goal in this new position will be to ensure our organization continues its long history of stellar financial performance. Our current business model is both proven and effective. We plan to build ongoing value for CWB shareholders by further enhancing our corporate culture and effectively executing on initiatives tied to our strategic themes of 'Do what we do, only better' and 'Make the whole worth more than the sum of the parts'."
Larry Pollock commented, "I am so very pleased with the Board's decision to choose a member of our executive team as the new President of CWB. I have worked with Chris for over 21 years and have witnessed first-hand his capabilities and commitment to leading our team, taking care of clients and growing our companies. Chris' ability to inspire our employees, shape our business strategies and protect our award-winning corporate culture will ensure CWB's continued success."
About Canadian Western Bank Group
Canadian Western Bank offers a full range of business and personal banking services across the four western provinces and is the largest publicly traded Canadian bank headquartered in Western Canada. The Bank, along with its operating affiliates, National Leasing Group Inc., Canadian Western Trust Company, Valiant Trust Company, Canadian Direct Insurance Incorporated, Adroit Investment Management Ltd. and Canadian Western Financial Ltd., collectively offer a diversified range of financial services across Canada and are together known as the Canadian Western Bank Group. The common shares of Canadian Western Bank are listed on the Toronto Stock Exchange under the trading symbol "CWB". The Bank's Series 3 Preferred Shares trade on the Toronto Stock Exchange under the trading symbol "CWB.PR.A". Refer to www.cwbankgroup.com for additional information.
SOURCE: Canadian Western Bank
For further information:
Kirby Hill, CFA
Director, Investor and Public Relations
Canadian Western Bank
Phone: (780) 441-3770
Tracey Ball, FCA
Executive Vice President and CFO
Canadian Western Bank
Phone: (780) 423-8888