Toronto-based HomeEquity Bank (HEB), Canada’s leading reverse mortgage lender, announced that Katherine Dudtschak has assumed the role of CEO following the retirement of her predecessor, Steven Ranson.
Ranson announced his retirement earlier this year, effective June 30. Dudtschak assumed the CEO responsibilities the following day after preparing to take the top spot starting this past May.
“With Katherine’s extensive experience across the financial services industry and with developing high-performing teams, we believe she is well positioned to build for the future and make a positive impact for the Bank’s customers,” Daniel Jauernig, chair of the board at HomeEquity Bank, said in a statement
HomeEquity Bank is Canada’s reverse mortgage market leader, overseeing a burgeoning space that includes competitors like Equitable Bank and Bloom Finance Co.
Ranson was a key player in the expansion of the company’s market share and relaying the product’s potential. He co-authored a book titled “Home Run: The Reverse Mortgage Advantage,” with fellow company executive Yvonne Ziomecki in 2021, and he oversaw milestones that included surpassing $1 billion (CAD) in originations in 2022.
All told, he spent 27 years at the company, first joining HEB in 1997 as chief financial officer.
Dudtschak is described as an experienced senior executive, having left a role as executive vice president of regional banking at the Royal Bank of Canada (RBC) in preparation to assume the CEO role at HEB.
“With the state of our economy and society, more Canadians than ever are aging with debt, limited cash savings and shrinking pensions,” Dudtschak said. “They’re looking at the equity and savings built up in the homes they love as a path to continued independence and dignity.
“We’ve reached the point where the over-fifty-fives are the largest demographic in Canada, and HomeEquity Bank is purely dedicated to understanding and serving the diversity of need within this vibrant and dynamic population.”