London Free Press
By Hank Daniszewski
Pacific Western becomes Versabank
London-based Pacific Western Bank has officially passed into history to become Versabank.
The company is completing a formal amalgamation of PWC Capital (Pacific Western) and Versabank, pending shareholder approval.
PWC Capital acquired a trust company in 1993, which became Versabank. CEO David Taylor said the amalgamation will make the structure simpler and improve brand awareness.
“There’s still confusion in the marketplace. We still have callers that confuse PWC with Versabank,” he said.
The company that has prospered by embracing the latest technology recently opened a new centre near London International Airport. Taylor said the company focus is switching from real estate to supporting the operations of financial technology (fintech) companies.