VersaBank Names Tel Matrundola Executive Head of the VersaBank Innovation Centre of Excellence

LONDON, Ontario–(BUSINESS WIRE)–Further to VersaBank’s recent merger with its former parent holding company, PWC Capital Inc. (“PWC”), and it’s repositioning into a more streamlined and efficient organization, VersaBank is pleased to announce Tel Matrundola has been named Executive Head of The VersaBank Innovation Centre of Excellence.

This new, state-of-the-art, digital facility provides the infrastructure for VersaBank’s branchless model and the platform for Canada’s Fintech Industry. This industry-first digital facility, located on the grounds of the London International Airport, will house the Bank’s in-house Software Development Division and its e-Commerce Division, which will now work side by side in this unique and advanced environment to proactively engage and lead in the Bank’s target markets, and be in an optimized positon to rapidly respond to developments and changes within those markets.

Tel Matrundola joined the Bank in 2003, as Vice President of Public & Corporate Affairs, and in May, 2016, was appointed as Chair of PWC. Mr. Matrundola served in the Government of Canada as Senior Policy Advisor to the Deputy Prime Minister and Minister of Finance, Senior Policy Advisor to the Minister of Foreign Affairs, and Policy Advisor to the Minister of Industry. His policy focus as Senior Advisor was Canada-US Relations, NAFTA, Post 9-11 Security and Anti-Terrorism, Border Issues and the creation of Nexus. Mr. Matrundola also has extensive experience in the Real Estate Development Industry.

Mr. Matrundola earned a Ph.D. in International Relations and Diplomacy from the American Graduate School of International Relations & Diplomacy, in Paris, France in 1997, a Master of Arts in International Relations & Diplomacy from Schiller University’s Paris campus in 1993, and an Honours Bachelor of Arts Degree from the University of Toronto in 1992, with additional studies at l’Universite de Paris XI, and the University of Siena.

David Taylor, President & CEO of VersaBank stated: “I am delighted Tel Matrundola has accepted the role of Executive Head of our new VersaBank Innovation Centre of Excellence. With the announcement of the Bank’s recent merger, we are now executing our plan as a more streamlined organization, increasing efficiency and focusing on our primary pillars of growth. This advanced digital Centre is pivotal to executing our business plan, and bringing together both our Software and e-Commerce divisions, positions VersaBank to focus on our strengths and effectively capitalize in our markets.”

About VersaBank

VersaBank, a technology based and digital Canadian Schedule I chartered bank, operates using an “electronic branchless model”. It sources deposits, consumer loans, commercial loans and leases electronically. The Bank also makes residential development and commercial mortgages it sources through a well-established network of brokers and direct contact with its lending staff. VersaBank’s Common Shares trade on the Toronto Stock Exchange under the symbol VB and its Series 1 Preferred Shares and Series 3 Preferred Shares trade under the symbols VB.PR.A and VB.PR.B, respectively.

Visit our website at: http://www.versabank.com