Experienced Canadian Banking Executive Brings Expertise in Business Transformation and Driving Growth
MISSISSAUGA, ON, March 3, 2025 /CNW/ - goeasy Ltd. (TSX: GSY), ("goeasy" or the "Company"), one of Canada's leading consumer lenders focused on delivering a full suite of financial services to Canadians with near to non-prime credit, is pleased to announce the appointment of Dan Rees as Chief Executive Officer.
goeasy Ltd. Logo (CNW Group/goeasy Ltd)
Dan Rees joins goeasy following a successful 25-year career with Scotiabank where he held progressively senior executive roles. From 2019 to 2024, Dan served as Scotiabank's Group Head of Canadian Banking where he demonstrated a track record of driving impressive results while leading the largest revenue portfolio of $13 billion and a lending portfolio of approximately $450 billion at the bank. He oversaw eight distribution channels spanning retail, small business, commercial and insurance for Canadian Banking, and ultimately strengthened the bank's competitive position. His tenure was marked by generating new revenue opportunities, developing continuous improvement initiatives, and boosting Scotiabank's customer satisfaction ranking to a lead position amongst Canada's big banks. Dan will officially join the Company on March 3, 2025, and will assume responsibility in May of 2025 after a transition period.
"Dan is the first external CEO to lead our organization in 25 years, and his appointment is an exciting milestone and signal of goeasy's ambition," said David Ingram, goeasy's Executive Chair, "Dan brings a depth of experience in financial services that was unmatched by any other candidate, and he will be exceptionally positioned to lead our business through its next stage of growth. His entrepreneurial approach aligns well with our culture, and his addition strengthens the executive team on their journey to expand our existing products and channels of distribution to become the largest and best performing non-prime lender in Canada and beyond," Mr. Ingram concluded.
In recent years, Dan's notable achievements include establishing strategic partnerships such as the Scene loyalty program with Sobeys, was prime on the Canadian Tire Bank relationship which culminated in the sale of ownership back to Canadian Tire, and oversight of the centralization and consolidation of the bank's legacy operational functions leading to gains in operating leverage and efficiency. In his last role, Dan also had accountability for the digital challenger-bank platform Tangerine where he more than doubled revenue and earnings, and the number one automotive finance business in Canada including Scotia Dealer Advantage which provides near and non-prime lending solutions through auto dealers.
Dan's specific and diverse combination of experiences in financial services will enhance goeasy's market-leading revenue growth and ambition to scale the loan portfolio from $4.6 billion at the end of 2024 to between $7 billion and $8 billion by the end of 2027 through product and distribution channel expansion, including a revolving card product, a quest for streamlined operations leading to superior customer experiences, all while continuing to deliver exceptional value to the Company's shareholders.
Prior to being appointed Group Head of Canadian Banking, Dan held several executive positions within Operations, Risk, Global Banking & Markets, Human Resources and Retail Banking. Dan holds an Honours Bachelor of Economics and Commerce from Queen's University and a Master of Science in Management from The London School of Economics.
"I am excited to join goeasy and grateful for the opportunity to lead this incredible Canadian company," said Dan Rees, goeasy's incoming Chief Executive Officer, "I have admired the evolution of goeasy for some time now and look forward to being a part of the unique culture, and the commitment to improve the lives of everyday Canadians. I am energized by the incredible potential to drive growth and further enhance the experience for our customers and employees."
About goeasy
goeasy Ltd. is a Canadian company, headquartered in Mississauga, Ontario, that provides non-prime leasing and lending services through its easyhome, easyfinancial and LendCare brands. Supported by over 2,500 employees, the Company offers a wide variety of financial products and services including unsecured and secured instalment loans, merchant financing through a variety of verticals and lease-to-own merchandise. Customers can transact seamlessly through an omni-channel model that includes online and mobile platforms, over 400 locations across Canada, and point-of-sale financing offered in the retail, powersports, automotive, home improvement and healthcare verticals, through over 10,800 merchant partners across Canada. Throughout the Company's history, it has acquired and organically served approximately 1.5 million Canadians and originated over $16.0 billion in loans.
Accredited by the Better Business Bureau, goeasy is the proud recipient of several awards in recognition of its exceptional culture and continued business growth including 2024 Best Workplaces™ in Financial Services & Insurance, Waterstone Canada's Most Admired Corporate Cultures, placing on the 2024 Report on Business ranking of Canada's Top Growing Companies, ranking on the TSX30, Greater Toronto Top Employers Award and has been certified as a Great Place to Work®. The Company is represented by a diverse group of team members from over seventy nationalities who believe strongly in giving back to the communities in which it operates. To date, goeasy has raised and donated over $6.3 million to support its long-standing partnerships with BGC Canada and many other local charities.
goeasy Ltd.'s. common shares are listed on the TSX under the trading symbol "GSY." goeasy is rated BB- with a stable trend from S&P and Ba3 with a stable trend from Moody's.
