Brokerage has tapped a veteran of the province's mortgage industry as new Quebec VP
Citadel Mortgages has announced its launch in Quebec, with the national mortgage brokerage opening a new office in Montreal’s financial district helmed by a prominent member of the province’s mortgage industry.
The company’s principal broker and managing partner Tristan Kirk (pictured top) told Canadian Mortgage Professional that the move was a “huge step” for Citadel, whose Quebec operations will be led by 24-year mortgage and insurance veteran Ramzi Haddad (pictured below).
“It was just an organic fit,” Kirk said of Haddad’s appointment. “We’re super excited to bring Ramzi into the fold. He’s going to be the main go-to in Quebec to help us scale and built out a successful group of brokers there.”
Haddad, whose previous experience in the mortgage space includes a 10-year stint at a leading national broker network, becomes Citadel’s vice-president, Quebec. He described himself as “happy and proud” to join what he said was a modern and forward-thinking team.
“Day after day, it’s confirmed that I made the right choice to join this great team,” he said. “I’m impressed by the technology and by the perfectionism of the managers. This perfectly meets my ambitions and expectations. Citadel’s reputation is already very good – and it continues to improve.”
Long-planned move comes to fruition
While Citadel had been planning a move into the Quebec market for some time, the company took a careful and meticulous approach to launching in the province.
That reflected its focus on finding the right leader to grow its business there, according to partner Matthew Nichol (pictured below), and make sure the company’s values and culture were exemplified in Quebec as elsewhere in the country.
“Our expansion into Quebec has been something we’ve eyed for a while, but we had to take our time finding the right individual who would be able to execute in the vision coming to fruition while being a true Citadelian,” Nichol told CMP, “and we’ve found that in Ramzi.
“Launching in Quebec is no small task. It speaks to the strength of our team collaboration and determination to leap forward in our pursuit to serve all with their mortgage and other financing needs.”
The company’s ambition to help Canadians create generational wealth and become mortgage-free years ahead of schedule is a message that resonates with Quebecers, Kirk said, while the appointment of the experienced Haddad shows Citadel’s willingness to tap into the expertise of established industry players to grow in the province.
“We’re open to that, and we understand that finding people who understand markets, bringing them into our leadership group, and utilizing their skillset will only help us grow and help us reach or mission of helping Canadians at the end of the day,” he said.
Move marks another option for Quebec brokers
Citadel’s venture into Quebec means the entry of a fresh option in the market for brokers based in the province to hang their hat.
Kirk said the company’s transparency and focus on putting brokers first were some of its foremost qualities, and highlighted its compensation model as one that would prove particularly attractive.
“We do everything we can to help our brokers to develop – not only paying them today but in the future, with our trailers and residuals that we’ve worked hard with our lenders to bring to market,” he said. “We’re excited to offer that sort of support and payment structure to a province that hasn’t really seen that.”
The expansion arrives at a pivotal time for Canada’s mortgage market, with the curtain almost coming down on 2023 and the mortgage community already ramping up plans for the year ahead.
As ever, interest rates and inflation will remain prominent factors in shaping the market’s performance in 2024 – but Kirk emphasized Citadel’s continuing commitment to ensuring its broker community has all the tools needed to service borrower clients in the coming 12 months.
#BreakingNews: Canada’s inflation rate fell to 3.1% in October, still above the Bank of Canada’s target rate but down notably from its September reading of 3.8%.— Canadian Mortgage Professional Magazine (@CMPmagazine) November 21, 2023
Read more: https://t.co/37TcAHQpZ3#mortgageindustry #inflation #interestrates
“As long as we continue to grow and stay in touch with our agents and brokers in every province and help them to build successful businesses by supplying them with the education, tools, and resources to do that, they’ll continue to be able to reach out to their communities and give that support,” he said.
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