Street Capital Appoints Head of Capital Markets and Treasury
Proven financial leader Greg Parker joins Street Capital Bank
TORONTO, ONTARIO, September 28, 2017 - Street Capital Group Inc. (“Street Capital” or the “Company”) (TSX: SCB), today announced that Greg Parker, an experienced capital markets and finance leader, has been appointed Executive Vice President, Capital Markets and Treasury of Street Capital Bank of Canada (“Street Capital Bank” or the “Bank”). Mr. Parker will assume these responsibilities on Oct 23, 2017.
Mr. Parker was most recently Executive Vice President, Strategy, at a major Canadian lender and Schedule I bank following positions as that institution’s Chief Risk Officer and Treasurer. Prior to these roles, he was the Director of the Capital Markets Division for the Office of the Superintendent of Financial Institutions (OSFI).
"Greg is a significant addition to the Street Capital team, as effective funding and capital markets strategies will be crucial to our future growth,” said Duncan Hannay, CEO of Street Capital. “Greg has an unparalleled depth of experience leading teams in both these key areas as well as a strong governance background, which will serve us well as we continue to diversify our product offerings. Street Capital has successfully retained and attracted top industry talent because we are positioned to grow into a leading Canadian banking platform and generate significant shareholder value in the coming years.”
Greg Parker added, “With a leading prime insured mortgage business as a foundation and a strong management team in place, Street Capital has a unique opportunity to make a mark for itself in the Canadian banking sector. I look forward to being a part of building this platform in the coming years.”
Mr. Parker has also held a number of senior capital markets and trading positions with large Canadian and international investment dealers. He holds an MBA from Dalhousie University and an ICD.D designation from the Rotman School of Business.
About Street Capital Group Inc. (streetcapitalgroup.ca)
Street Capital Group Inc. (TSX: SCB) is a public company operating through its wholly-owned subsidiary, Street Capital Bank of Canada, a federally regulated Schedule I Bank offering residential mortgage loans with the strategic goal of introducing additional retail banking products in the coming years. Street Capital Bank of Canada sources its mortgage products primarily through a network of independent mortgage brokers across Canada with whom it has built relationships. Street Capital Bank of Canada offers a broad line-up of high ratio and conventional mortgages to borrowers and either sells the mortgages it underwrites to top tier financial institutions or holds them on balance sheet. Street Capital Bank of Canada lends throughout all of the Provinces of Canada (other than Quebec) and has offices in Ontario, Alberta and British Columbia. For more information please visit streetcapital.ca.
This release contains certain forward-looking statements that are based on management’s exercise of business judgment as well as assumptions made by, and information currently available to, management. When used in this document, the words “may”, “plan”, "will”, “anticipate”, “believe”, “estimate”, “expect”, “intend”, and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect our current view of future events and are subject to certain risks and uncertainties as outlined in the Company’s Annual Information Form and other filings made with securities regulators, which are available on SEDAR (sedar.com). These factors include, without limitation: expansion opportunities, technological changes, regulatory changes (including mortgage insurance rules), and changes to the business and economic environment, including, but not limited to, Canadian housing market conditions and activity, interest rates, mortgage backed securities markets, and employment conditions that may impact the Company, its mortgage origination volumes, investments and capital expenditures, and competitive factors that may impact revenue and operating costs. Any of these factors, amongst others, could cause actual results to vary materially from current results or from the Company's currently anticipated future results and financial condition. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, our actual results could differ materially from those anticipated in these forward-looking statements. We undertake no obligation, and do not intend, to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize.
For further information, please contact:
LodeRock Advisors Inc., Investor. Relations
Tel: (416) 283-0178