The alternative lender favours Berkshire Hathaway’s bid, despite the advisory from ISS
The former Canaccord Genuity CFO joins the Toronto-based alternative lender on Friday
Gerald Soloway, Robert Morton and Martin Reid have also been prohibited from serving as officers or directors for a period of time
The company reported that elevated expenses weighed down its bottom line, including $213.6 million pre-tax from its liquidity crisis earlier this year
Warren Buffett’s firm provided the alternative mortgage lender the financial lifeline last month as Home Capital was trying to regain investor confidence
The announcement comes three weeks after Warren Buffett’s Berkshire Hathaway invested in the company and provided much needed funding
Greg Parker will focus on identifying and evaluating options to further develop the alternative lender’s business
The company is making efforts to restore market confidence following allegations that it misled investors
But the company is encouraged by the inflows of deposits since Berkshire Hathaway announced it was investing $400 million in Home Capital
The deal between the alternative mortgage lender and Warren Buffet's company is expected to close on June 29