Home Capital Group has announced its new chief executive, a 30-year mortgage industry veteran.

Yousry Bissada becomes president and CEO of the company and subsidiaries including Home Trust and Home Bank on August 3. He is currently CEO at financial services consultancy Kanetix Ltd.

Mr Bissada’s career includes 7 years as president and CEO of mortgage software firm Filogix Inc. and executive roles at two of Canada’s Big Five banks including SVP of Real Estate Secured Lending Products at TD Canada Trust.

The 57-year old mortgage professional is on the board of directors at Equity Financial Holdings Inc., a TSX-listed alternative mortgage lender, and previously served as Chairman of two mortgage lenders, Canadiana Financial Corp. and Paradigm Quest Inc.

"Home plays a critically important role in terms of helping Canadians realize their dream of home ownership," Mr. Bissada said. "I am excited about the opportunity to work with the strong team at Home Capital and build on the Company's leading position in the alternative mortgage lending market. We want to be the first choice for depositors, borrowers and brokers."

One of his first tasks will be to appoint a CFO for the lender.

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