August 29, 2017 / 11:21 AM / a year ago

UPDATE 1-Home Capital names Canaccord veteran Brad Kotush CFO

(Adds details and background)

Aug 29 (Reuters) - Canadian lender Home Capital Group Inc on Tuesday named Canaccord Genuity Group Inc veteran Brad Kotush as its chief financial officer, effective Sept. 1.

Home Capital said interim CFO Robert Blowes would step down and remain on the company’s board.

The company last month named mortgage industry veteran Yousry Bissada its CEO, tasking him with rebuilding relationships after the ouster of CEO Martin Reid, which was the beginning of a series of events that led investors to withdraw 95 percent of deposits from the lender’s high-interest savings accounts.

The company’s business has stabilized since it secured a C$2 billion line of credit from Warren Buffett’s Berkshire Hathaway Inc.

Kotush, most recently, was CFO and risk officer at Canaccord, Home Capital said on Tuesday.

Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Sriraj Kalluvila and Sayantani Ghosh

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