Equitable (EQ) Bank has announced the sudden passing of Andrew Moor, the company’s president and chief executive officer.
In a statement released today (June 24), EQ Bank said that “the entire EQB team mourns the loss of our colleague and inspired leader and offers sincere condolences to the Moor family”.
At the time of his passing, Moor was the longest-serving bank chief executive officer in Canada, having been appointed to the position in 2007.
“Andrew’s death is a tragic loss to all of us at EQB and to everyone who had the pleasure of knowing him,” said Vincenza Sera, chair of the board.
EQ Bank president and chief executive officer Andrew Moor, who has passed away
“Andrew was a visionary leader and a fierce advocate for change and innovation in banking that benefits all Canadians. As a result of his inspired stewardship of our company, he instilled a culture at EQB that is both forward looking and faithful to the sound principles of prudent banking that engender public trust. He will be missed.”
At the time Moor became chief executive officer in 2007, the organization had 107 employees, $4.4 billion of assets under administration and “a limited regional trust company presence”.
EQ Bank is now Canada’s seventh largest bank with $134 billion of combined assets under management and administration, and has nearly 2,000 employees coast to coast.
Moor, who was a strong advocate of Open Banking, most recently spoke at Open Banking Expo Canada on June 17.
Kelly Stanley, co-founder and operations director of Open Banking Expo, said: “Myself, Adam and the team here at Open Banking Expo are saddened and shocked to learn of Andrew’s passing.
“We have so many wonderful memories of his involvement in Open Banking Expo Canada over the years and the thoughtful contributions he made each year. We admired how fearlessly he spoke the truth and championed Open Banking as a force for good – to build a better future for all Canadians. He was clearly a remarkable leader, and we’ve had the pleasure of meeting many of his colleagues who spoke so highly of him.
“Andrew will be deeply missed, and we send our heartfelt condolences to his family, friends, and the EQ Bank team.”
The bank’s chief risk officer Marlene Lenarduzzi has been named as interim president and chief executive officer as part of its emergency succession plan. She was also appointed to the board of Equitable Bank and EQB.
Over the past two years, Moor and the board had been preparing for his retirement as part of the organization’s succession plan.
Sera added: “We were well-advanced in that process, including with support from Andrew, and plan to make an announcement regarding his long-term successor in the very near term. In the interim, we thank Marlene for stepping in to keep EQB moving forward during this difficult time.”
