LONDON, Ontario--(BUSINESS WIRE)--Pacific & Western Bank of Canada (TSX:PWB) is pleased to announce that Moe Danis CFA, has been promoted to Senior Vice President of Structured & Corporate Finance. Moe joined the Bank in 2010 to create a highly automated, state-of-the-art, small ticket lease and loan purchase program, referred to by the Bank as the Bulk Lease & Loan Purchase Program.
Moe brings to the Bank over thirty years of experience in the financial services industry. Early in Moe’s career he developed the idea of purchasing small loans and leases originated by finance companies located throughout Canada, but to reduce risk to the purchaser, holding back a portion of the payment until the loans and leases had been fully repaid. After joining the Bank, Moe worked with the Bank’s highly capable IT Department to evolve this program to its present state-of-the-art design. Presently the Program is generating approximately $100 million in new lease and loans each quarter.
David Taylor, President & CEO of the Bank, stated: “This promotion recognizes the tremendous effort Moe has put into developing the Bulk Lease & Loan Purchase Program from the ground up and the importance that we place on this Program for the Bank’s future growth and profitability. With the recent Tier 1 capital we raised through our Preferred Share offering, Moe and his team now have the capital they require to continue growing this portfolio and further diversifying our assets. We are proud to be providing much needed capital to small businesses and consumers throughout Canada. The Canadian market has long suffered from a lack of financing for small and medium sized businesses, and we are pleased that our Program is helping to fill this need, while presenting a tremendous growth opportunity for our Bank.”
Moe serves on the board of directors of the Canadian Finance & Lease Association (CFLA), has been a panel member at numerous association conferences, as well as an instructor for their continuing education program. He currently serves on the Accounting Committee, and was named the CFLA’s Member of the Year in 2014, “in recognition of his outstanding contribution to the development of the asset-based financing, equipment and vehicle leasing industry in Canada and his participation in the work of CFLA.”
About Pacific & Western Bank of Canada
The Bank, a Canadian Schedule I chartered bank, operates using a “branchless model”. It raises deposits through a network of deposit brokers located across Canada and invests these deposits in consumer and commercial loans and leases, as well as residential development and commercial mortgages.
Pacific & Western Bank of Canada’s Common Shares trade on Toronto Stock Exchange under the symbol PWB.
Visit our website at: http://www.pwbank.com