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NEWS RELEASE - Wednesday, August 15, 2018

Concentra Bank Expands Executive Team to Drive Growth and Strategy

​August 15, 2018 (Saskatchewan): Don Coulter, President and Chief Executive Officer, Concentra Bank (Concentra) recently announced changes to his executive team.

Neal Oswald will join Concentra in the new role of Chief Operating Officer. Oswald is a senior executive leader and execution specialist with extensive financial services experience in retail and wholesale banking. As COO, Neal will provide leadership and oversight to enterprise operations, controls and internal processes, with primary accountability for facilities, internal consulting, outsourcing relationships and project management.

Describing his new role, Oswald remarked, "I look forward to improving and growing the business at Concentra by collaboratively working with our ecosystem partners and the credit union system to compete in the digital economy."  

Oswald brings over 30 years of experience as a strong leader, facilitator, change agent, and transformation specialist who improves and transforms organizations and processes. As an executive with a large national bank, and partner with both Ernst & Young and PwC, he possesses global experience in banking operations, process improvement, technology, and risk management. Oswald also brings experience working with clients on digital business model redesign and transformation in finance, technology, operations and risk. He has an exemplary track record for working collaboratively with cross-functional teams to execute transformational change.

Also new to the executive team is Philippe Sarfati, EVP, Chief Risk Officer. Previously announced on May 28, Sarfati officially joined Concentra on June 18. As Chief Risk Officer, Philippe ensures sound governance and effective controls for enterprise risk management, compliance, corporate policy, credit adjudication and regulatory framework to meet Concentra's strategic and business objectives, while also enhancing shareholder value.

Sarfati brings extensive domestic and international experience in risk management, governance and regulatory compliance, with a particular focus on integration of credit, legal, market, operational, regulatory, and reputational risks. Over his nearly three decade career in the financial services industry, Sarfati served in roles with the Canadian credit union system, Bank of Montreal, Canada Pension Plan Investment Board, the Office of the Superintendent of Financial Institutions, and most recently with Promontory Financial Group.

Corina Farbacher has been promoted to Executive Vice-President, Governance, Marketing, and Communications. Maintaining her role as head of legal and corporate governance, Farbacher will provide executive leadership to marketing, communications and business support functions, and guide the company's efforts in building and enhancing relationships with its various stakeholders.

Jessica McNaughton has been promoted to Executive Vice-President, Chief People Officer. McNaughton will bring a stronger focus to diversity and change management, and provide executive leadership to the company's Corporate Social Responsibility portfolio aligning efforts to culture and strategic objectives.

Brian Guillemin will take on a revised portfolio as Executive Vice-President, Digital Solutions to advance and accelerate Concentra's digital future. Technology Services, Application Support, Information Management, Technology Risk remain under Guillemin's leadership.

The executive team also includes existing leaders and portfolios:

  • Paul Masterson, Executive Vice-President, Chief Financial Officer
  • Ryan Graham, Executive Vice-President, Wholesale Banking

Speaking on the changes, Coulter remarked, "This deeply talented executive team strengthens Concentra's capacity to deliver growth by driving our strategic position in the financial services industry." He continued, "Concentra Bank is well-positioned to strengthen capabilities across the company, to mature and align internal controls and processes improving operational risk levels, and to further unlock and scale business, innovation, and technology to achieve long-term success."  

Coulter stepped into the role as President and CEO for Concentra Bank on March 12, 2018, embarking on a comprehensive and robust 100 day plan encompassing stakeholder consultations, a deep dive into Concentra's business and culture, setting strategic direction, and, re-aligning the executive leadership team.

Concentra recently opened a Toronto office on Bay Street expanding its footprint across the country in addition to offices in Regina (SK), Saskatoon (SK), and Surrey (BC) to enable its national growth strategy.

Concentra is Canada's primary provider of wholesale banking and trust solutions to credit unions from coast to coast. We specialize in asset management, treasury, and trust solutions to improve performance, manage risk, and grow relationships. Concentra partners with credit unions to ensure over five million Canadian members can choose competitive financial services from their local credit union. 2017 was the fifteenth year Concentra earned distinction as one of Canada's Best Managed Companies, retaining Platinum status. 


Media Relations:
Laura Herman
P: 306-956-7089