12:00:50 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Home Capital Group Inc
Symbol HCG
Shares Issued 80,246,349
Close 2017-07-12 C$ 14.39
Market Cap C$ 1,154,744,962
Recent Sedar Documents

Globe says Home Cap's new CEO a mtg industry veteran

2017-07-13 07:08 ET - In the News

The Globe and Mail reports in its Thursday, July 13, edition that Home Capital Group (HCG) new chief executive officer is 57-year-old veteran Yousry Bissada, a mortgage industry veteran with an innovative streak to lead it through a challenging turnaround. The Globe's James Bradshaw writes that Mr. Bissada was plucked from the helm of a small company that sources insurance quotes, Kanetix. The Globe says his earlier career was varied, spanning big banks and technology ventures, but always with an eye on the mortgage sector. He takes over on Aug. 3. The Globe says Mr. Bissada has his work cut out for him. A crisis of confidence sparked a run on HCG's deposits, threatening it with collapse earlier this year. Since then, a refreshed board of directors steadied the firm and landed support from Warren Buffett, through his firm Berkshire Hathaway. With Mr. Buffett's stamp of approval, depositors have begun to return cash to the company's fixed-term products. HCG, however, still has considerable work to do setting a strategy for growth, while stabilizing its capital structure at a reasonable cost and continuing to originate mortgages at a sustainable rate. The company has said it has not achieved victory yet.

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