TORONTO - Andrew Moor, who grew EQB Inc. into Canada's seventh-largest bank during his nearly two-decade tenure at the helm and pushed for more innovation in the financial sector, has died.
The bank said Tuesday he died unexpectedly over the weekend at age 65.Â
"Andrew's death is a tragic loss to all of us at EQB and to everyone who had the pleasure of knowing him," board chair Vincenza Sera said in a statement.
"Andrew was a visionary leader and a fierce advocate for change and innovation in banking that benefits all Canadians."
Moor was a proponent for Canada to adopt an open banking regime that could increase competition and allow banks like EQB to better challenge the Big Six.Â
Prominent members of the fintech community praised his efforts and character on professional networking site LinkedIn.
Wealthsimple co-founder and CEO Michael Katchen said he was heartbroken by the news.
"He was a visionary in the fight to build a better financial system for everyday Canadians. Never afraid to stand up and challenge the status quo," Katchen said.
"He was a force of nature, full of strong, unshakable convictions and just so fun to be around."
Borrowell chief executive Andrew Graham said Moor's passing was a huge loss and credited his faith in Borrowell for helping it get the traction it needed to survive and grow.
"In addition to being a great guy, he was one of Canada's foremost champions for financial innovation," Graham said.
"I know I speak for the team at Borrowell and the membership of Fintechs Canada in saying how much we will all miss Andrew's wisdom, kindness and sense of humour. What a loss."
EQB said Tuesday that current chief risk officer Marlene Lenarduzzi will step into the chief executive role on an interim basis.
The bank has already spent the last two years making succession preparations ahead of Moor's planned retirement and is well-advanced in the process of choosing a long-term successor, Sera said.
EQB said its thoughts and sympathies were with the entire Moor family and called him a wonderful role model, a dedicated husband and father, and a keen supporter of important community and charitable causes.Â
It also noted that Moor was also the longest-serving bank CEO in Canada at the time of his death, having taken on the role in 2007.
When he started at EQB, it had 104 employees and $4.4 billion in assets as a limited regional trust company. He grew it into the company behind EQ Bank and Equitable Bank with $134 billion in combined assets under management and administration and nearly 2,000 employees coast to coast.Â
Financier Alex Haditaghi said on LinkedIn that he was shocked and heartbroken by the loss of the man he knew for over 18 years.
"Andrew wasn’t just a brilliant mind in Canadian banking — he was one of the most forward-thinking, principled, and innovative executives and leaders our industry has ever seen," Haditaghi said.
"This is a massive loss — for his family, for Equitable, and for all of us who were fortunate enough to work alongside him, compete with him, or learn from him."
This report by °µÍø½ûÇø was first published June 24, 2025.
Companies in this story: (TSX:EQB)
