Home Capital Group Inc. (TSX:HCG) announced its board has appointed a new director with extensive experience at two prominent Canadian law firms and as an adviser to the federal government.

The Toronto-based mortgage company has been rebuilding its board and senior management ranks in recent weeks following a series of developments that has shaken confidence in the company.

Read: What to do when friends want to buy property together

It says James Lisson will replace John Marsh, who has been a Home Capital director since 1986.

The chair of Home Capital’s board, Brenda Eprile, says Lisson brings “deep expertise” in areas that are vital to the company.

Lisson spent 25 years at the law firm Osler, Hoskin & Harcourt where he was a partner and vice-chair of its financial services group followed by nine years as a partner with Fasken Martineau DuMoulin, primarily based in London, England.

Home Capital says Lisson later worked for the federal justice department as a consultant on commercial law.

Market strategists continue to bet against the Canadian housing market. Bloomberg News reported on Thursday that short interest on the iShares S&P/TSX Capped REIT Index ETF (TSX:XRE) had risen to a record 4 million on April 13, and was at 3.8 million at the end of April.

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Where was the Office of the Superintendent of Financial Institutions in the fiasco??? Most of them can be seen walking through the tunnels downtown Toronto each day.

Sunday, Jun 11, 2017 at 12:07 pm Reply