MCAP Financial Corporation has a new leader following the retirement of long-time chief executive officer Derek Norton.

Norton was at the helm of the mortgage finance company for 18 years during which time he has driven the firm’s growth as a leading provider of mortgage finance in Canada.

His successor is former president and COO Mark Aldridge, who becomes president and CEO of the firm effective July 5, 2018.

Aldridge has been with MCAP since 2001 and took became COO 5 years’ ago. He has more than 25 years as a financial services professional, 16 of them in the mortgage industry.

Although Norton has retired as CEO he is still part of the firm’s governance as vice chairman of the board and chair of the Credit Committee.

MCAP has been in the industry for more than 30 years with more than $70 billion in mortgages, commercial mortgages, and construction loans managed for clients including insurance companies, banks, credit unions, and other institutional investors.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

More market watch: