EQB Inc. Appoints Chadwick Westlake as CEO for Strategic Growth and Innovation
- Chadwick Westlake is appointed as EQB Inc.'s new CEO, effective August 25, 2025, following Andrew Moor's passing.
- Westlake's extensive experience includes pivotal roles in EQB's initiatives and a strong banking background from Scotiabank.
- The board expresses confidence in Westlake's leadership to drive growth and innovation in EQB's competitive landscape.
### EQB Inc. Appoints Chadwick Westlake as New CEO: A Strategic Move Forward
On July 9, 2025, EQB Inc. announces the appointment of Chadwick Westlake as its new President and Chief Executive Officer, effective August 25, 2025. This leadership change comes after the unexpected passing of former CEO Andrew Moor, whose nearly two-decade tenure saw the company grow into Canada’s seventh-largest bank. Westlake, who brings a deep understanding of EQB's operations and culture, previously served as the Chief Financial Officer at EQB and played a significant role in pivotal company initiatives such as the acquisition of Concentra Bank and the establishment of a $3.1 billion European covered bond program. His extensive background in banking, including 18 years at Scotiabank, positions him as a capable leader for EQB's next phase.
The board of directors, led by Chair Vincenza Sera, expresses strong confidence in Westlake's ability to guide the company through a competitive financial landscape. His appointment is expected to facilitate continued growth and innovation, aligning with EQB's commitment to enhancing customer service and technological advancements. With EQB holding $134 billion in combined assets as of April 30, 2025, the focus is clearly on leveraging Westlake's experience to navigate evolving market demands and to maintain the bank's reputation as a challenger in the Canadian financial sector.
In the interim, Marlene Lenarduzzi continues to serve as acting CEO until Westlake officially steps into his role. Following his appointment, Lenarduzzi will revert to her position as Chief Risk Officer. This transition period underscores EQB's commitment to stability and continuity in leadership, ensuring that strategic initiatives remain on track. As the company moves forward, stakeholders are optimistic about its trajectory under Westlake's leadership and the potential for sustained growth and innovation.
In addition to his role at EQB, Westlake's recent recognition as one of Canada's 2025 Best Executives by The Globe and Mail highlights his leadership capabilities. His return to EQB from OpenText Corporation, where he served as Executive Vice President and CFO, reflects a strategic decision aimed at harnessing his intimate knowledge of the company’s operations to drive future success.
DBRS Limited, a credit rating agency, indicates that Westlake's appointment is not expected to affect EQB's credit ratings or strategic direction, reinforcing confidence in the company's resilience during this transition. As EQB prepares for its next chapter, the emphasis on customer-centric solutions and technological enhancements remains at the forefront of its strategic objectives.