HomeEquity Bank has appointed long-time mortgage executive Yousry Bissada as its next president and CEO, effective January 15. The Toronto-based lender, best known for its CHIP Reverse Mortgage, said the hire will support its next phase of growth and digital investment as it approaches its 40th year in business.
“It’s an honour to join HomeEquity Bank as it enters its 40th year,” Bissada said in the announcement. “I’ve admired this company and its people, watching as it built a reputation for empowering older Canadians and their families to thrive financially. I’m excited to be part of this team and help grow something truly special. I also look forward to once again working with mortgage broker partners across the country.”
The company’s board chair, Dan Jauernig, called the appointment a strong fit for the lender’s current trajectory. “His deep expertise is exactly what the organization needs to continue its track record of responsible growth and industry leadership,” he said. Jauernig had been serving as interim CEO and now returns to his role as chair.
The bank said its portfolio has been growing by more than $1 billion annually in recent years, with assets reaching the $10-billion mark by the end of 2025. That growth has been driven largely by demand from homeowners aged 55 and up who are looking to access home equity without selling.
A familiar name to the mortgage industry
Bissada’s arrival at HomeEquity Bank follows his recent departure from Home Trust after its merger with Fairstone Bank. The deal saw him move into the role of vice-chair of Fairstone’s board. In that transition, Bissada publicly reflected on his seven years at Home Trust, a period that included stabilizing the lender during its well-documented 2017 crisis, rebuilding relationships in the broker market, and modernizing its technology stack.
Before his time at Home Trust, Bissada held senior roles across the financial and mortgage technology sectors, including CEO of Kanetix, chair of Canadiana Financial and Paradigm Quest, advisory leadership at Solidifi, and executive roles at TD Canada Trust, CIBC Mortgages and Firstline Trust.
Alongside his corporate work, Bissada sits on several boards, including the Princess Margaret Cancer Foundation, FirstService Residential, Fairstone Bank and iA Financial Group.
Reverse mortgages continue to gain traction
The reverse mortgage space has been attracting renewed interest, including from traditional lenders.
Home Trust recently announced its entry in the reverse mortgage the market, underscoring the growth in demand from homeowners aged 55 and up who want to access equity without selling their homes.
That demographic has also become more comfortable researching and managing finances online, which the bank says is driving its push into digital services. Bissada’s background in deposit-funded lending and digital transformation aligns with that trend.
HomeEquity Bank is owned by the Ontario Teachers’ Pension Plan Board.
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Last modified: January 14, 2026