Toronto, March 28, 2025 — MCAN Mortgage Corporation has officially announced the appointment of Derek Sutherland as its new President and Chief Executive Officer, effective April 1, 2025.
Sutherland has been serving as the company’s Interim CEO since November 2024 and has chaired the Board of Directors since 2020. With his permanent appointment to the top executive role, he will step down as Chair of the Board. Gaelen Morphet, currently the Lead Director, will assume the role of Chair to ensure the continued independence of the Board.
“We are confident in Derek’s ability to lead MCAN into its next phase of growth,” said Morphet. “His extensive experience with the company, deep understanding of our strategic priorities, and long-standing commitment to stakeholder value make him the ideal candidate.”
Sutherland, a Chartered Professional Accountant and Chartered Accountant (CPA, CA) and Institute of Corporate Directors-certified (ICD.D), previously served as MCAN’s Chief Risk Officer from 2013 to 2016. He brings over two decades of strategic leadership and financial expertise to the role.
“I am honoured to lead MCAN as President and CEO,” said Sutherland. “I look forward to working with our talented team to drive sustainable growth and deliver long-term value to our shareholders.”
MCAN Mortgage Corporation, operating as MCAN Financial Group, is a federally regulated mortgage investment corporation (MIC) listed on the Toronto Stock Exchange (TSX: MKP). It is recognized as Canada’s largest MIC and the only one offering CDIC-insured term deposits.
