Pacific & Western Bank of Canada has announced the election of Avery Pennarun to its Board of Directors.
The election was conducted at their Annual General & Special Meeting held on April 27. A press release from the company said Pennarun brings to the Board a wealth of knowledge and experience in information technology.
Prior to his new appointment, Pennarun was working at Google Fiber Inc. in New York City as a Senior Software Engineer. He graduated from the University of Waterloo in 2001 with Honors, Bachelor of Applied Science in Computer Engineering degree.
His background includes four years as EVP, Software Development at AMSDMS Software Inc. which is a subsidiary of PWC Capital Inc. David Taylor, President and CEO of the Bank welcomed Pennarun to the new posting. He said Pennarun is well experienced and they could not have settled on a better candidate than him.
“I am delighted Avery has joined our Board; his significant experience in information technology, background in designing banking software, and his in-depth knowledge of our banking systems is very valuable to us as we continue to lead the industry with an innovative, branchless banking platform and propel Canada’s growing Fintech Industry.”
Pennarun is expected to take a leading role in propelling the bank to new heights amidst heightened competition from the local banking industry. The bank has made it clear they are keen to tap on his experience. Pacific & Western Bank of Canada, a highly versatile and technologically proficient Canadian Schedule I chartered bank, operates using an “electronic branchless model”. It sources deposits, consumer loans, commercial loans and leases electronically.
PWB also makes residential development and commercial mortgages it sources through a well-established network of brokers and direct contact with its lending staff. PWB’s common shares trade on Toronto Stock Exchange under the symbol PWB.