HOOPP chief executive Jim Keohane had been a director of Home Capital since last year and had been nominated to be re-elected at the mortgage lender's annual meeting, scheduled for May 11. It also said that the chairman of Home Capital's board, Kevin Smith, would no longer be a director of HOOPP. Besides his position at Home Capital, Smith is chief executive of St. Joseph's Health System. "Like any investment, this decision was made in the best interest of our members' financial needs," HOOPP said. "We have a long history of providing these types of investments as appropriate, risk-balanced vehicles to meet our overall return targets.

Source: CBC News April 28, 2017 12:20 UTC