Wealth One Bank of Canada reaches a major milestone and welcomes its new Board Directors
TORONTO, Sept. 16, 2021 /CNW/ - In September, Wealth One Bank of Canada will reach a significant milestone by celebrating its fifth anniversary of operation. Wealth One Bank of Canada ("WealthONE" or the "Bank"), a federally chartered Schedule I Bank regulated by OSFI, and a member of the Canada Deposit Insurance Corporation (CDIC) received its Letters Patent from Canada's Minister of Finance in July 2015, and officially opened for business in the Fall of 2016 with offices in both Toronto and Vancouver.
"Our founders' vision is to build a bank that provides a tailored suite of financial products and solutions designed to specifically satisfy the needs of customers in the Chinese Canadian community, as well as all Canadians who share similar financial needs, says Paul Leonard, WealthONE President & CEO. Since inception, WealthONE has been helping newcomers to Canada get established by assisting families make the transition easier. Moving to a new country can be very exciting but isn't always easy. Our trusted advice and expertise make the transition easier. In fact, our founders and many of our professional staff were newcomers to Canada themselves, so we understand the journey. We specialize in financial products and solutions that meet the unique needs of our clients, many of whom are self-employed persons, real estate investors, multiple property owners, high net worth individuals, and those who have foreign assets and income."
On June 28, 2021, the Bank held an Annual General Meeting and Special Meeting of Shareholders and at that time ratified the composition of its Board. WealthONE welcomes the following new directors and congratulates its incumbent directors on their re-appointment. The new directors are as follows:
Tuula Jalasjaa, MBA, CFA,ICD.D
Chair of the Governance, Conduct Review, and Human Resources Committee
Tuula is a former Scotiabank and HollisWealth/HollisBank senior executive with over 25 years of global banking and financial services experience. She has served on several Boards and is also the founder of The Women's Collection, a multi-faceted program designed to empower women who want financial freedom & independence and to make the right financial choices by combining education, networking, tools, and resources.
Marissa Lauder, CPA, CA, ICD.D
Chair, Audit Committee; Member, Risk, Credit Review Committees
Marissa is the former CFO of Home Capital Group. Early in her career, Marissa worked at the Office of the Superintendent of Financial Institutions (OSFI) and most recently she completed a strategic review of Street Capital which eventually led to the successful sale of the company in late 2019 and she served on the Board of Pace Credit Union as Chair of the Audit Committee and as a member of the HR Committee.
Bogie Ozdemar, MBA, M.Sc, ICD.D
Chair, Risk and Credit Review Committees
Recently retired as Chief Risk Officer of Canadian Western Bank, Bogie brings a deep knowledge of the banking industry regulatory framework, enterprise risk management and mortgage lending environment to his new Board responsibilities. His 24-year career in financial services includes senior roles at BMO, Sun Life Financial and Standard & Poor's.
Charles Sousa, MBA, ICD.D
Chair, Stakeholder Relations Committee
Member of Governance, Conduct Review and Human Resources Committee
Charles is a former member of the Ontario provincial legislative assembly and served in several senior ministerial roles, including President of the Treasury Board and Minister of Finance where he oversaw the establishment of the Ontario Financial Services Regulatory Authority. Prior to entering politics, Charles had a 20-year commercial banking career at RBC following the founding of his own finance and factoring company. Charles was recognized as one of Toronto's 50 Most Influential People by Toronto Life Magazine (2014).
Shawn Chen, M.Sc
Founding Shareholder; Member of Stakeholder Relations Committee
Shawn is an experienced entrepreneur, successfully founding, operating, and managing real estate and land development companies in Toronto. He also has international experience, serving as CEO of a technical service company servicing the petroleum industry in the Middle East and is frequent guest lecturer in environmental engineering.
Sam Jawad
Member of Governance, Conduct Review, Human Resources, Credit Review, and Risk Committees
Sam was the President of Chase Paymentech Solutions Canada, leading all business operations, market development and strategy as well as international expansion efforts. Most recently, Sam was the founding CEO of a joint venture on behalf of the big 6 Canadian Banks, where he built a new business strategic model in digital payments. The business was successfully acquired by Interac Corp. in 2019.
"As the new Board Chair, I am very pleased to welcome our new members, says Daryl Yeo. Each bring a depth of knowledge and wealth of experience which will add significant value to WealthONE's Board as the Bank continues with its growth and expansion of services to serve our valued client base.
The Bank's 5th anniversary represents a significant step in its evolution from a pure start up to an institution with over $400 million in assets, a growing client base and a brand recognized for offering flexible and innovative borrowing solutions which respond to the specific circumstances and needs of our target markets. We are excited about the opportunities that exist as the Bank moves to the next chapter of its evolution. We look forward to tapping into the collective expertise of our Board members to guide our future strategic initiatives.
I would be remiss in not recognizing and thanking our retiring Board Chair, Zool Samji and Vice Chair, Roman Oryschuk, and other past Board members for their vision, sage advice and commitment over the past five years that have been instrumental in the growth of the bank to where it is today."
The Bank is also pleased to announce that returning to the Board are:
Shenglin Xian
Founding Shareholder; Member of Stakeholder Relations Committee
Shenglin has served as the Vice-Chair of Board since the founding of the Bank. Both Mr. Xian and his company, Shenglin Financial are among the top insurance agent producers for London Life Insurance Company. Shenglin Holding Co. Ltd., also founded by Mr. Xian, operates several subsidiaries in real estate development in Canada and China, medical technology, property management and financial investment industries. Since immigrating to Canada in 1990, Shenglin has devoted himself to supporting the Chinese Canadian Community.
Yuansheng Ou Yang
Founding Shareholder
Mr. Ou Yang is a successful Canadian entrepreneur and the President of Ou Yang Group, a multinational corporation with real estate development, international and domestic trading, medical technology, large wholesale and retail supermarket operations in China and North America. Mr. Ou Yang is a well-known community leader in Toronto where he has held numerous association leadership roles in the Chinese Canadian community.
Morris Chen
Founding Shareholder
Mr. Chen is a successful real estate development entrepreneur and is actively involved in various not-for-profit associations. He chairs the North America Investment and Trade Promotion Association which aims to promote investment, trade, cooperation, and business relations between Chinese and North American enterprises.
Daryl Yeo, ICD.D
Board Chair; Member of Credit Review Committee
Daryl was first elected to the Board in 2016 and was appointed Chair in 2021. Daryl brings over four decades of experience in the financial services industry including 25 years at RBC. In the past 12 years Daryl has served in independent board member roles with ResMor Trust, Community Trust and Exchange Bank of Canada, with particular focus on enterprise risk management.
Paul Leonard, CPA, CA
President and Chief Executive Officer
Mr. Leonard was appointed CEO of the Bank in 2020 after serving as CFO for the prior two years.
He brings over 30 years of experience starting and growing new and innovative Canadian retail banks that challenge the established banks. Prior to joining the bank, Mr. Leonard was CFO at CFF Bank and helped guide their growth to $245 million in assets and over $1.5 billion in loans under administration. He was also the founding CFO of ING DIRECT (now Tangerine Bank) and was instrumental in growing Ally Bank Canada which was acquired by RBC in 2013.
Jeffrey Graham, B.C.L., LL.B
Founding Director; Member, Governance, Conduct Review and Human Resource, and Audit Committees
Mr. Graham is Senior Vice President and Global Head of Legal and Compliance with SkyPower Global, a leading international developer and operator of utility scale solar power projects. Previously, he was the national head of the Financial Services Regulatory Practice of Borden Ladner Gervais LLP. Mr. Graham was first admitted to practice law in the Province of Quebec and is currently a member of the Bars of the District of Columbia in the US and the Province of Ontario.
Alfred Lau
Director; Member, Audit, Credit Review, and Stakeholder Relations Committees
Alfred is the founder and co-leader of a private equity firm with operations in Hong Kong and Beijing. Mr. Lau was a partner of KPMG for over 35 years at key locations around the world, including Beijing, Vancouver, and London where he held senior positions including co-leader of the audit practice in Beijing, co-leader of the China Practice in Canada, and Audit Engagement Partner for several multinational Fortune 500 companies. Alfred is fluent in Mandarin and Cantonese and has a solid understanding of the business and operating environment both in Canada and China.
"As a full-service online digital bank, we are providing clients with a safe, convenient, and responsive experience for their everyday banking, borrowing, savings and investing needs. Additionally, we place a high value on relationships and will continue to collaborate and build strategic partnerships to bring innovative product and service offerings to all our clients, says Barry Ferguson, Chief Marketing & Strategy Officer."
For detailed information about Wealth One Bank of Canada and its Directors and leadership team, please visit us at: https://wealthonebankofcanada.com/Personal/AboutUs/
SOURCE Wealth One Bank of Canada
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