ATB Financial CEO retiring after leading Crown corp for 11 years

first_imgCALGARY – ATB Financial president and CEO Dave Mowat is retiring at the end of June after 11 years as head of the Alberta Crown corporation.The bank says it is starting a search for a replacement and will announce Mowat’s successor in May.Mowat, 62, led the bank through the 2008-09 financial crisis as well as the oil price downturn that took hold in 2015 and leaves as the economy shows signs of recovery.Over Mowat’s tenure, the bank’s assets climbed from $20.3 billion in 2007 to $49.6 billion as of last September, while total operating revenue went from $751 million to a last reporting of $1.5 billion.He also headed the review of the province’s royalty regime initiated by the Alberta NDP government that left the existing system largely in place.Mowat says that after a decade of leading the bank, it’s time for a new leader to infuse the company with new ideas and approaches.last_img

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