EQB Inc. has named Chadwick Westlake as its next President and CEO, effective August 25, 2025. The appointment follows a multi-year succession plan and marks a new chapter for the bank following the passing of former CEO Andrew Moor.
Westlake, a former CFO at EQB, will also join the company’s Board of Directors. Marlene Lenarduzzi, who stepped in as interim CEO earlier this year, will return to her role as Chief Risk Officer.
“Chadwick possesses all the leadership qualities and skill sets the board identified as necessary to take EQB to the next level,” said Vincenza Sera, Chair of the Board. “He is uniquely positioned to uphold the challenger bank culture and innovation mindset that drives us forward.”
Westlake previously served as CFO of EQB from 2020 to March 2025, a period that included the company’s acquisition of Concentra Bank and expansion into covered bonds and capital markets. He helped oversee EQB’s corporate strategy, investor relations, treasury, securitization and legal functions. He returns to the company after a brief stint as EVP and CFO at OpenText Corporation.
In a statement, Westlake said he was honoured to build on the foundation left by Moor, who led the institution for over 15 years.
“We are entering a defining era in the evolution of banking,” he said. “EQB’s market position is strong, with its full potential still to be unleashed. It is the greatest honour of my career to take up the mantle of Andrew’s inspired leadership and rejoin my challenger teammates to further the remarkable institution he built.”
EQB’s Board began the CEO search several years ago, with Moor playing a direct role in identifying Westlake as a successor. The process was guided by a special committee and supported by a global executive search firm.
Westlake’s banking background spans nearly two decades at Scotiabank, where he held senior leadership roles in Canadian Banking, Wealth Management, International Banking, Global Banking & Markets, and corporate functions. He was named one of Canada’s Best Executives by The Globe and Mail earlier this year.
EQB Inc. is the parent company of Equitable Bank and EQ Bank. As of April 30, 2025, it had $134 billion in combined assets under management and administration. The bank positions itself as a digital-first alternative to traditional financial institutions and serves over 742,000 clients, along with six million credit union members through its partnerships.
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Last modified: July 9, 2025