New homegrown bank targets Chinese Canadians for deposits, mortgages


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    New homegrown bank targets Chinese Canadians for deposits, mortgages

    A new Canadian bank led by a former Bank of Nova Scotia mortgage executive is hoping to seize a share of the Chinese-Canadian market.

    WealthOne Bank of Canada has opened offices in Vancouver and Toronto and has begun to take business and personal deposits and offer residential mortgages.

    “At the heart of this bank is a team with a deep knowledge and respect for Chinese values and culture, and frontline financial services managers who are fluent in Chinese and English,” says Charles Lambert, WealthOne’s chief executive, who earlier in his career worked as a managing director of residential mortgages at Bank of Nova Scotia. He also worked in the finance group before leaving Canada’s third-largest bank in 2012.

    http://business.financialpost.com/news/fp-street/new-homegrown-bank-targets-chinese-canadians-for-deposits-mortgages


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