A BMO veteran with deep broker channel roots steps in to lead Canada's largest non-bank lender
First National Financial Corporation has named Hassan Pirnia as its next president and chief executive officer, effective November 2, tapping a seasoned banking executive with direct experience in Canada's mortgage broker channel to lead one of the country's most broker-committed non-bank lenders.
Pirnia succeeds Jason Ellis, who announced plans to retire in March after 22 years at the Toronto-based firm. His departure closes a tenure that saw First National grow from a $10-billion portfolio to more than $170 billion in mortgages under administration and a leading position in the broker distribution channel.
A banking executive built for the broker channel
Pirnia joins First National from BMO Financial Group, where he most recently held the role of North American Chief Risk Officer for Personal and Business Banking.
Before that, he served as Head of Canadian Business Banking and Head of Personal Lending and Home Finance — roles that placed him at the centre of the bank's mortgage and broker strategy. He has also held progressively senior positions at CIBC.
His track record in the broker space runs deeper than a title. Pirnia was the architect of BMO BrokerEdge, the platform launched in 2024 that marked the bank's return to broker distribution after a 17-year absence from the channel.
First National was a named partner in that initiative, making Pirnia a familiar figure at the lender well before his appointment.
"He knows our industry well, understands the importance of the broker channel and has a strong track record of getting things done," Ellis said.
Moray Tawse, chairman of First National, framed the choice as a statement of intent. "Hassan is the right leader to build on that success," Tawse said.
"He brings deep industry experience, an approach focused on teamwork and building strong relationships, and a track record of turning strategy into action."
Technology and digital investment on the agenda
First National's second-quarter 2026 originations fell 12% year over year, to $12.2 billion, as softer housing conditions and heightened competition from chartered banks weighed on single-family volumes across the broker channel.
The company still ranks among the top three non-bank lenders by market share in broker distribution nationally.
Pirnia's mandate will include a continued rollout of digital and AI-enabled tools across the mortgage process, an investment programme already underway and well aligned with his background in technology-driven lending strategy at BMO.
"I see a real opportunity to build on that foundation — continuing to grow the business, investing in our people and capabilities, and delivering an even stronger experience to our clients, brokers and partners," Pirnia said.
The appointment lands at a moment of expanding broker influence in Canadian mortgage origination. Research from Mortgage Professionals Canada (MPC) found that 38% of Canadians arranged their mortgage through a broker in 2026, with first-time buyer adoption reaching 48%, the highest on record.
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