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Home Capital Group Appoints New President

^{Published on 2009-12-04 06:06:33 - Market Wire}
 

TORONTO, Dec. 4 /CNW/ - The Board of Directors of Home Capital Group Inc. (TSX: HCG) is pleased to announce the appointment of Martin Reid as President of Home Capital Group and its wholly owned subsidiary Home Trust Company ("Home" or "the Company").

Mr. Reid joined Home in 2007 as Treasurer and was instrumental in establishing the Company's participation in the Canada Mortgage Bond Program. He has been responsible for the Company's liquidity, market risk, the securitization program, asset and liability management and banking relationships. He holds an economics degree from York University and has more than 20 years of financial services industry experience in numerous senior management roles in treasury and capital markets. Mr. Reid started his career with Deutsche Bank Canada and rose to Director of Market Risk for the Americas.

Gerald M. Soloway, Home's Chief Executive Officer, said, "Martin's extensive experience in the financial services marketplace, his disciplined approach to Home's strategy and his global perspective make him a natural fit for the role of President of Home. I am pleased that our focus on strengthening our senior management team through internal development has resulted in Home's new President coming from within the Company. I am confident that Martin will provide the leadership and guidance to continue Home as a multi-faceted financial institution and as Canada's one-stop mortgage lender."

Nick Kyprianou has tendered his resignation as President of Home Capital and Home Trust, effective December 31, 2009, to pursue other opportunities. Mr. Soloway said, "We thank Nick for his significant contribution to Home's success over the past 17 years and wish him every success in his future endeavours."

Home Capital Group Inc. is a public company, traded on the Toronto Stock Exchange (HCG), operating through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering deposit, mortgage lending, retail credit and payment card services. Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British Columbia, Nova Scotia and Quebec.