TORONTO, Jan. 12, 2022 /CNW/ - The Board of Directors of
First National Financial Corporation (TSX: FN) (TSX: FN.PR.A) (TSX:
FN.PR.B) is pleased to announce the appointments of Stephen Smith as Executive Chairman of the Board
and Jason Ellis as President, Chief
Executive Officer and Director effective January 12, 2022.
Mr. Smith co-founded First National in 1988 with Moray Tawse.
Since taking First National public in 2006, Mr. Smith served as the
company's founding Chairman and Chief Executive Officer and now
will continue to provide strategic guidance to the management team
in the newly created role of Executive Chairman.
Mr. Ellis joined First National in 2004 with responsibility for
First National's treasury and capital markets activities, was
appointed Chief Operating Officer in 2018 and added the title of
President in 2019. Mr. Ellis will be responsible for day to
day operations and the design and maintenance of strategy in the
pursuit of business excellence.
In making the announcement, Mr. Smith stated: "Jason is uniquely
qualified to lead First National as my natural successor. For close
to 20 years, he has played increasingly important strategic roles
within our business and, at every stage has made meaningful
contributions to value creation. Passing the baton to Jason is
something that I am pleased to do as I know he will take First
National to the next level of achievement for the benefit of our
employees, customers, partners and shareholders."
Prior to joining First National, Mr. Ellis served in the
Asset/Liability Management group at Manulife Financial and with RBC
Dominion Securities in Toronto and
New York where he traded fixed
income and interest rate derivatives. Mr. Ellis is a graduate of
the University of Western Ontario,
holds an MBA from McMaster University
and is a CFA charter holder.
Mr. Ellis stated: "First National became one of Canada's leading non-bank lenders because of
the entrepreneurship of Stephen
Smith and Moray Tawse. I am honoured to have the opportunity
to lead the company they founded and pleased that Stephen will
serve as our Executive Chairman where he will continue to
contribute to the success of our business. I look forward to
working closely with Stephen and the other 1,600 dedicated
professionals at First National to further the company's legacy of
service, innovation and growth."
About First National Financial Corporation
First National Financial Corporation (TSX: FN, TSX:FN.PR.A,
TSX:FN.PR.B) is the parent company of First National Financial
LP, a Canadian-based originator, underwriter and servicer of
predominantly prime residential (single-family and multi-unit) and
commercial mortgages. With more than $121
billion in mortgages under administration, First National is
one of Canada's largest non-bank
originators and underwriters of mortgages and is among the top
three in market share in the mortgage broker distribution
channel. For more information, please visit
www.firstnational.ca.
SOURCE First National Financial Corporation