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SYSTEM RELEASE - Tuesday, September 13, 2016

Concentra Appoints Interim CFO, Brian Wilson


Concentra, Canada's leading wholesale banking and trust solutions provider to the credit union system, announces the appointment of Brian Wilson, CPA, CA as interim Chief Financial Officer (CFO), effective September 30, 2016. The appointment follows the departure of Ron Friesen, Executive Vice-President and Chief Financial Officer who is resigning from Concentra in order to be closer to his family.

"Brian brings broad expertise to key areas of focus for Concentra including financial reporting, treasury and risk management, tax planning and capital management" said President and Chief Executive Officer, Ken Kosolofski. "Brian will be an integral part of the executive team. His leadership and contributions to our financial operations will be critical as we move Concentra forward."

Kosolofski added, "Given that Concentra is approaching key milestones in our bank continuance efforts, we were motivated to continue with a well-rounded executive leadership team to maintain our strategic focus on meeting the emerging needs of credit unions. Bringing Brian on board allows Concentra the time and flexibility required to conduct a thorough search for a permanent CFO to help lead the next stage in Concentra's growth.

"Concentra has ambitious plans to play a leading role to further strengthen Canada's co-operative system" said Wilson. "Credit unions provide a truly competitive alternative to traditional banks, and I'm driven by the challenge of evolving Concentra in support of this agenda."

Wilson is a seasoned leader and financial executive with extensive CFO experience, providing management and strategic advisory services, business plan development, and creating financial and management structures to support new or rapidly growing businesses across multiple jurisdictions. He also brings a deep understanding of the regulatory environment within the financial services industry.

Previously, Wilson held CFO or Senior Finance appointments with public and private companies, ranging from small start-ups and emerging businesses to large, established multi-national corporations. He has experience across the spectrum of financial services, having served as CFO of National Trust for seven years, as well as the Canadian subsidiaries of UBS AG of Switzerland, and Macquarie Bank of Australia.

Brian joined Concentra on September 8 to work alongside Friesen until the 30th, when he will assume the interim CFO role.

Kosolofski praised Friesen's contributions to Concentra saying, "Ron has been a dedicated and valuable member of the executive team throughout his tenure. He has provided effective strategic leadership, helping to strengthen the company's financial performance and move Concentra towards bank continuance. I am confident Brian will be able to continue this momentum."