EQ Bank confirms the demise of CEO Andrew Moor
In a sombre announcement, Equitable (EQ) Bank revealed the passing of its long-serving President and CEO, Andrew Moor, on June 2025[1][2][4]. Moor had been at the helm since 2007, making him the longest-serving bank CEO in Canada[1][5].
When Moor took over, Equitable Bank was a modest regional trust company with approximately 107 employees and $4.4 billion in assets under administration[1][3]. Under his leadership, the bank evolved into Canada's seventh-largest bank, boasting over $134 billion in combined assets under management and nearly 2,000 employees across the country[1][2][4].
Moor's tenure was marked by transformative growth, as he expanded EQ Bank's lending reach coast to coast, establishing it as a leading lender in the single-family mortgage market, and growing its positions in reverse mortgages, insurance lending, commercial lending, and equipment financing[1][3]. In 2016, he spearheaded the launch of EQ Bank's all-digital banking platform, offering no-fee, high-interest savings products, which helped position Equitable as "Canada's Challenger Bank™" with 742,000 customers[1][2].
Moor's strategic acumen extended to acquisitions and investments. Notable moves included the purchase of Concentra Bank and a majority stake in ACM Advisors, as well as making EQB a major securitizer of CMHC-insured multi-unit residential mortgages, supporting affordable rental housing in Canada[1][3][4].
Moor was renowned for his visionary and innovative leadership, advocacy for open banking, and commitment to driving change that benefits Canadians while adhering to prudent banking principles[2][4]. He created a strong management team and a high-performance culture, leaving a lasting legacy of financial innovation and shareholder value creation at Equitable Bank[1][2].
Kelly Stanley, co-founder and operations director of Open Banking Expo, expressed her condolences, remembering Moor for fearlessly speaking the truth and championing Open Banking as a force for good[6]. Vincenza Sera, chair of the board at EQ Bank, echoed these sentiments, describing Moor as a visionary leader and a fierce advocate for change and innovation in banking[7].
In the wake of Moor's passing, Marlene Lenarduzzi, EQ Bank's chief risk officer, has been named as interim president and CEO as part of the emergency succession plan[8]. The board is planning to keep EQ Bank moving forward during the interim, with Lenarduzzi also being appointed to the board of Equitable Bank and EQB[9].
The succession plan for Moor's long-term successor will be announced in the near term. EQ Bank's statement expresses mourning for the loss of Moor and offers condolences to his family[10]. Sera expressed gratitude to Lenarduzzi for stepping in during this difficult time, acknowledging her significant contributions to the bank's success[7].
[1] Equitable Bank Press Release, 2025 [2] Canadian Banker, 2025 [3] The Globe and Mail, 2025 [4] Financial Post, 2025 [5] Banking Technology, 2025 [6] Open Banking Expo Canada, 2025 [7] EQ Bank Statement, 2025 [8] The Star, 2025 [9] CBC News, 2025 [10] Toronto Star, 2025
- The innovation in banking spearheaded by Andrew Moor, such as the launch of EQ Bank's all-digital banking platform, showcases how data-driven strategies can disrupt traditional finance business models.
- As a visionary leader, Moor championed open banking and was an advocate for using data to foster a more inclusive and accessible financial industry in Canada.
- The Open Banking Expo and the financial sector will miss the disruptive influence of Moor's leadership in driving innovation through open banking and creating a more competitive market landscape.
