EQB adds more than a dozen new members to its leadership team and expands key mandates as its July 1 PC Financial close approaches
Digital financial services company EQB Inc. has unveiled a sweeping series of executive appointments as it prepares to close its acquisition of PC Financial from Loblaw Companies Limited on July 1.
The changes integrate senior PC Financial leaders directly into EQB's executive leadership team and expand existing mandates across the organization.
"We are ready to significantly evolve as Canada's Challenger Bank," said Chadwick Westlake, President and CEO of EQB, in a company statement. "The bank we are building is a meaningfully different institution."
New appointments from PC Financial to EQB's executive leadership team, effective July 1, include:
- Ian Hanning, SVP, Credit Cards and Loyalty — formerly CFO of PC Financial, with more than 25 years of experience in financial planning, treasury, and capital markets
- Mark Snyder, SVP, Credit Risk and Data Analytics — formerly SVP, Credit Risk and Data Analytics at PC Financial, overseeing credit strategy and fraud management
- Michaela Garfield, SVP, Customer Growth, Experience and Strategy, Personal Banking — formerly VP, Digital Products, Platforms and Growth at PC Financial
- Puneesh Arora, EVP and Chief Risk Officer — formerly CRO at PC Financial, with regulatory experience as a former supervisor at the Office of the Superintendent of Financial Institutions (OSFI)
Additional appointments include Caleb Rubin as Chief Brand Officer, Dan Broten as Chief Digital Officer, David Wilkes as SVP, Deposits, Payments and Small Business Banking, Dipti Patel elevated to Chief Credit Officer and Deputy CRO, Julia Davidson as Chief Operating Officer, Commercial Banking, and Lemar Persaud as SVP, Investor Relations and Enterprise Performance Management.
Expanded mandates for existing leaders include Daniel Rethazy (EVP Personal Banking), taking on PC Financial's credit cards, insurance and distribution businesses; Anilisa Sainani (EVP and CFO), adding Strategy and Corporate Development; and Gavin Stanley (EVP and CHRO), adding oversight of Brand and Marketing.
A planned CRO transition
Marlene Lenarduzzi, who has served as EQB's Chief Risk Officer for nearly three years, will step away from the role effective July 1, transitioning to a Special Advisor capacity through to January 1, 2027.
Westlake credited her with materially strengthening EQB's risk management framework, including capabilities across credit risk, enterprise risk, regulatory compliance, and anti-money laundering.
"She elevated our risk function in ways that will outlast her tenure, and she did it with commitment and professionalism," Westlake said.
EQB Inc. has $144 billion in combined assets under management and administration as of April 30. Through its wholly owned subsidiary Equitable Bank — Canada's seventh-largest bank by assets — and wealth management arm ACM Advisors, the company serves more than 827,000 customers and six million credit union members.
EQB agreed to acquire PC Financial in December 2025. The deal received Competition Bureau clearance in March 2026 and ministerial signoff the following month. Once closed, EQB will become the exclusive financial partner of the PC Optimum loyalty program, adding access to Loblaw's national retail and digital channels. The federal minister of finance and national revenue approved the acquisition in May 2026, clearing the final regulatory hurdle.
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