Dave Mowat, president and CEO of ATB Financial, will be retiring effective June 30, the Edmonton-based Crown corporation announced Monday.
“It’s been an amazing 11 years with a company I love. I’m incredibly proud of what we’ve been able to achieve, not only in terms of growing our business and the number of Albertans we serve, but also building a company that’s loved and respected by Albertans,” said Mowat.
Mowat, 62, led the bank through the 2008-09 financial crisis as well as the oil price downturn that took hold in 2015 and leaves as the economy shows signs of recovery.
Over Mowat’s tenure, the bank’s assets climbed from $20.3 billion in 2007 to $49.6 billion as of last September, while total operating revenue went from $751 million to a last reporting of $1.5 billion.
A search process will begin immediately with plans to announce Mowat’s successor in May, ATB says in a news release.
With files from The Canadian Press