Montréal, March 31, 2011 -Otéra Capital is pleased to announce that Ray McManus has become Vice Chairman of the Board and Strategic Advisor, and Sylvain Fortier, Guy Fréchette and Yvon Tessier have joined as Directors. “We are very excited to welcome our three new Board members and congratulate Ray in his new role. As Vice Chairman of the Board and Strategic Advisor, he will be very involved with Management and the Board in strategic decisions concerning the Company.” said Ross Brennan, President and Chief Executive Officer of Otéra Capital. “All our Directors bring a lifetime of experience and knowledge to Otéra as well as a strategic focus that will help us achieve our goal of becoming “Best in Class” in real estate lending in Canada. I also want to thank our departing Director, Ghislaine Laberge, for her contribution to the Board” Mr. Brennan added.
Raymond McManus is an experienced Corporate Director. He started his banking career in 1960 and rose to become President and Chief Executive Officer of Laurentian Bank of Canada until his retirement in 2007. Moreover, after working for more than 20 years at Royal Bank of Canada and Mercantile Bank of Canada, he founded and led Cafa Financial Corporation, a private investment bank specializing in mergers and acquisitions, corporate financing and real estate. Over the course of his career, he acted as adviser for a number of large financial transactions.
Sylvain Fortier is Vice-President, Advisory and Real Estate Strategy for Caisse de dépôt et placement du Québec’s Real Estate Group. Mr. Fortier has 23 years of experience in real estate, in both the equity and financing sectors.
Guy Fréchette is a retired partner from Ernst & Young and a Corporate Director. Until his retirement in 2008, Mr. Fréchette was Vice President and member of the Executive Committee at Ernst & Young Canada. Mr. Fréchette currently sits on several boards of directors, including the Canadian Public Accountability Board (CPAB), the Montreal Symphony Orchestra Endowment Fund, the École des Hautes Études Commerciales (HEC) , the CEPSUM of Université de Montréal and Fonds Ville-Marie. He also serves as President of the Foundation for Mental Illness (Québec) Inc. Mr. Fréchette is a past President and Chairman of the Board of the Montreal Board of Trade.
Yvon Tessier is a Corporate Director and has been active in Real Estate since 1963. From 1990 until his retirement in 2009, he was Senior Vice President, Investments, at SITQ. Mr. Tessier was responsible for the real estate investments in Canada and internationally. He also held various positions with institutional and private groups, including Vice President, Real Estate Financing, at Marcil Trust and Regional Manager, Mortgage Investments, at Great West Life. He sits on the Board of Directors of MCAP and Fonds immobilier de solidarité FTQ. He also holds the designation of Certified Corporate Director from the Collège des administrateurs de sociétés.
Source and information: François Gaboury | Director of Communications | Otéra Capital | 514-847-5948