Grant Armstrong has become the latest acquisition by WealthONE as it seeks to become Canada’s next major alt-A bank.
Armstrong announced he was joining the lender on Tuesday as its new Vice President and Chief Credit Officer following six years at Community Trust, most recently serving as its Head of Distribution.
WealthONE has been making significant changes since it was acquired by a consortium of investors led by Globalive, the venture firm founded by Canadian entrepreneur Anthony Lacavera, this past July. Soon after, the company parted ways with CEO Paul Leonard and replaced him with the company’s Chairman, John Webster, who is now serving as interim president and CEO.
“I wasn’t actively looking for anything, just an opportunity and some recommendations, and decided to meet with John and hear the story about what they’re doing with WealthONE,” Armstrong told Canadian Mortgage Trends shortly after making the announcement public. “It intrigued me, and I decided to join them.”
A reputation for scaling mortgage products
Prior to his time at Community Trust, Armstrong spent more than 11 years as an Alternative Mortgage Solutions Specialist for RBC, followed by nearly three years as a senior mortgage options specialists and director with CIBC.
As someone who has helped scale numerous brands in the mortgage industry, Armstrong says he was excited by the opportunity to bring his expertise to another organization with bold ambitions for aggressive growth.
“I was able to do that at Community Trust, a great organization that’s part of the Questrade Group,” he says. “Stepping out of there was an opportunity to let them continue on their way as I step into another organization and do what I did there — even grow it further than where I took Community.”
A new challenger enters the ring
Armstrong explains that after clearing the regulatory hurdles required to operate as a Schedule I bank, WealthONE is now on its way to becoming the country’s next major alternative lender.
“They’re putting a lot of energy and power behind the new brand, and with the acquisition that was done by Globalive, they’re looking to build out WealthONE as a challenger alternative lender,” he says. “I was very successful in doing that at my previous roles, and [John Webster] offered me an opportunity to come help build it again, while working with some great people.”
Though his precise responsibilities are still being ironed out, Armstrong says his new role will focus on mortgage origination growth. That means working closely with brokers, building and maintaining those relationships on behalf of WealthONE as it introduces new products to market.
“WealthONE is aggressively looking to partner, is open to new relationships, and are absolutely looking for brokers that want to learn more about our products,” he says. “I can’t share that product roadmap yet, but if they want to learn more about how WealthONE can help them grow their book as well as support them and their customers, give us a call or send us an email.”
Armstrong emphasizes that he’s grateful for his time at Community Trust and leaves with nothing negative to say about his former employer.
“I immensely enjoyed my time there,” he says. “I was very fortunate to be part of the team that grew it, and I have nothing but thanks and best wishes for them as they continue to grow into the new chapter they have planned for 2026.”
At the same time, Armstrong says he’s excited to eventually lift the veil on what WealthONE has to offer brokers when it begins introducing products to market in the New Year.
“Brokers should know that they are the bank to watch in 2026 as we grow with the broker community,” he says. “Brokers should definitely pay attention to what we’re doing; we’re going to be a lot more present in the marketplace, you’re going to see us a lot more, and we’re going to continue to support mortgage brokers as they continue to grow their share of the Canadian mortgages in Canada.”
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Last modified: December 17, 2025