Toronto-based Equity Financial Trust Company Thursday announced the appointment of Michael Jones as president of Equity Financial Trust, effective October 7. Jones replaces Nick Kyprianou, who is leaving the company.
“Michael brings more than 30 years of experience in the retail mortgage industry, most recently as President and CEO of Xceed Mortgage Corp., where he oversaw the rapid growth of the business prior to its sale. As an experienced and proven operator in the alternative mortgage industry, Michael will continue the growth and development of our retail mortgage lending business,” said Paul G. Smith, president & CEO, Equity Financial Holdings Inc. (TSX:EQI), the parent company of Equity Financial Trust.
In addition to serving as president and CEO of Xceed, Jones has held posts with CIBC, Firstline Trust and Bank of Montreal. He has extensive experience in retail banking, real estate finance and residential and commercial mortgage lending and securitization.