CIMBC Announces New President

CIMBC is thrilled to announce that the former Executive Head of BMO Bank of Montreal's Mortgage Broker Channel Robert (Bob) Sinclair is joining CIMBC as the President of the Coalition of Independent Mortgage Brokers of Canada. "I had the great pleasure of working with Bob in the past in setting up a very successful strategic partnership with BMO, and was thrilled when our paths crossed again for yet another great opportunity to work our magic in the mortgage broker space. Bob will be responsible for building on the solid foundation and momentum of CIMBC, working closely with all of our member brokers, as well as our strategic partners and lenders to support quality originations. With his vast experience in the retail banking space, he will also spearhead the expansion of our suite of unique product offerings for our brokers' customers, and enhance service programs that will serve to increase CIMBC's overall membership value proposition," said John Bargis – Mortgage Edge, CIMBC

As the Executive Head of BMO's Mortgage Broker Channel Bob was strategically influential in the growth of the broker business and a strong supporter of the broker industry in Canada. Bob's last position with BMO Bank of Montreal, as Vice President and Head of Specialized Sales Canada, carried the responsibility for substantial growth in both the mortgage and loan business, and he was instrumental in developing and executing on the banks "New Customer" strategy originating new customers through BMO's proprietary sales forces, Mortgage Specialists (servicing Real Estate Agents and COI's), Mortgage Development Managers (servicing the Builder business) and Lending Specialists (servicing Financial Planners).

Bob also led the Canadian Retail Auto finance Business for BMO Bank of Montreal as the Vice President where his strategic focus on optimizing revenue growth opportunities, balancing risk and profitability goals aligning to Customer and Employee satisfaction initiatives led BMO to achieving the #1 rating in the JD Power Survey in dealer servicing among the Canadian Financial Institutions.

Bob's past experience and his knowledge in Credit Risk and Analysis (Operational & Transactional), Governance and strong knowledge of the new Regulatory environment faced by the mortgage industry, will bode extremely well for CIMBC's planned future mandate" Bob's appointment and this transition are exciting milestones in a succession plan that the board of directors has been working on for the past year since the changes to hold. "Bob's people-focused leadership style, industry expertise, and market understanding will build on the success Bob has helped BMO to achieve. He is focused on the future and helping the Company achieve its long-term strategic goals of sustainability in our rapidly changing environment. Bob's strong financial credentials and deep sector knowledge will without doubt serve CIMBC's members very well," said John Bargis - CIMBC.

"I'm really enthusiastic about Bob joining our CIMBC family. Bob was a great leader and ally to the broker channel and his efforts were always appreciated. We at CIMBC will benefit immensely with his leadership and vast knowledge of our industry." – Raj Babber – CLN Mortgages, CIMBC

Bob Sinclair, added:

"I am extremely excited about having the opportunity to work with the CIMBC Executive and Member Brokers. From the early stages I was impressed with the diverse experience of the members, the strong support of our partners and lenders, and the focus by the Board.

There continues to be changes in this industry, we've seen changes in the regulatory environment, lender guidelines, the housing market and consumer confidence. How companies adapt to these changes is extremely important for their future success. Those that find ways to work within these changes, develop alternative solutions through new products and services for the brokers and agents will be successful in building confidence with their customers. Making it easy to do business through technology will play a big part in the future delivery of these products and services as well.

For me CIMBC was a great fit, having the opportunity to build a company who's purpose is to enhance growth in the market place for independent mortgage brokers, by building relationships with lenders and key partners with the ultimate goal of providing exemplar service to their customer is what ultimately attracted me to CIMBC. CIMBC is about broker presence and independent branding, its about reshaping the industry with improved efficiencies in various areas of the mortgage origination process and striving to significantly improve the efficiency's and profitability for member brokers, their agents, and lender associates. We know we will be doing business differently everyday, ensuring we capitalize on every opportunity is critical to our future success. I am very much looking forward to the new role within CIMBC and building for the future."