TORONTO, ON — December 17, 2025 — Leads & Copy —
EQB Inc. and Equitable Bank (collectively “EQB”) have announced the appointment of Mike Pedersen to their Board of Directors, effective immediately. The Board also intends to nominate Pedersen as successor Chair at the Annual General Shareholder Meeting (AGM) in April 2026, contingent upon his election as a Director by EQB shareholders.
The announcement is part of EQB’s renewal and succession plan. Vincenza (Vin) Sera, the current Chair, plans to step down and will not seek re-election as a Director at the AGM in April 2026, concluding 13 years of service on the Board. Sera joined the Board in 2013 and has served as Chair since September 2024, extending her 12-year term to take on the Chair position at the Board’s request.
Pedersen brings more than three decades of leadership in global financial services. His experience includes providing governance and strategy oversight through periods of impactful growth and transformation. From 2018 to 2023, he served as Chair of the Board at the Business Development Bank of Canada (BDC). Pedersen also held senior roles at TD Bank Group, including President and CEO of TD Bank Group’s U.S. banking business from 2013 to 2017.
Based in Toronto, Pedersen currently serves on the boards of CGI, AtkinsRéalis, and Clean Prosperity. He is also Chair of the Advisory Committee for the Intact Centre on Climate Adaptation at the University of Waterloo and a member of the Sustainable Finance Advisory Committee at the Global Risk Institute. Pedersen holds a Bachelor of Commerce from the University of British Columbia and a Master of Industrial Relations from the University of Toronto. He is involved in organizations dedicated to environmental sustainability and urban poverty.
Sera stated that it has been a privilege to serve as Chair, noting the company’s rapid growth to become Canada’s seventh-largest bank. She expressed confidence in Pedersen’s expertise to deliver value to shareholders and customers.
Sera played a key role in milestones such as the launch of EQ Bank in 2016, the appointment of Chadwick Westlake as President and CEO, and EQB’s agreement to acquire PC Financial.
Westlake thanked Sera for her contributions and stated that Pedersen’s tenure in banking, leadership, strategy, and governance positions the company to execute an ambitious growth strategy.
EQB Inc. is a digital financial services company with $138 billion in combined assets under management and administration as of October 31, 2025. Through Equitable Bank, a wholly owned subsidiary and Canada’s seventh-largest bank by assets, it offers banking services. Wealth management is offered through ACM Advisors, a majority-owned subsidiary specializing in alternative assets. Equitable Bank aims to drive change in Canadian banking to enrich people’s lives, serving nearly 780,000 customers and more than six million credit union members. EQ Bank has been named one of Canada’s top banks on the Forbes World’s Best Banks list since 2021.
Investor contact:
Lemar Persaud
VP and Head of IR
investor_enquiry@eqb.com
Media contact:
Maggie Hall
Director, PR & Communications
maggie.hall@eqb.com
Source: EQB Inc.
