Grant Armstrong becomes the latest bank to be acquired by WealthONE as it seeks to become Canada’s next major alternative bank.
Armstrong, who announced Tuesday that he is joining the bank as its new vice president and chief credit officer, comes after six years at Community Trust, most recently as its head of distribution.
WealthONE has been undergoing significant changes since last July when it was acquired by a consortium of investors led by Globalive, the venture capital firm founded by Canadian entrepreneur Anthony Lacavera. Shortly after, the company parted ways with CEO Paul Leonard and was replaced by company chairman John Webster, who currently serves as interim president and CEO.
“I wasn’t actively looking for anything, just an opportunity and some advice, and decided to meet with John to hear their story about working with WealthONE,” Armstrong told us Canadian Mortgage Trends shortly after the announcement. “That piqued my interest and I decided to join them.”
Proven reputation for expanding mortgage products
Prior to joining Community Trust, Armstrong spent more than 11 years at RBC as an alternative mortgage solutions specialist, followed by nearly three years at CIBC as a senior mortgage selection specialist and director.
As someone who has helped scale numerous brands in the mortgage industry, Armstrong said he welcomes the opportunity to bring his expertise to another organization with the ambition to achieve aggressive growth.
“I’ve been able to do that at Community Trust, which is a great organization that’s part of the Questrade group,” he said. “When I go into another organization and do what I did there, leaving there is an opportunity for them to move on – even further than I did in the community.”
A new challenger enters the ring
Armstrong explained that WealthONE is now on track to become the next major alternative lender in the country, after clearing the regulatory hurdles required to operate as a Tier 1 bank.
“They have put a lot of effort and effort into the new brand and through the Globalive acquisition they hope to establish WealthONE as a challenger alternative lender,” he said. “I did this very successfully in my previous role and [John Webster] Giving me an opportunity to help rebuild it while working with some great people. “
While his specific responsibilities are still being determined, Armstrong said his new role will focus on growth in mortgage originations. This means working closely with brokers to build and maintain these relationships on behalf of WealthONE as WealthONE brings new products to market.
“WealthONE is actively seeking partners, is open to new relationships and is definitely looking for brokers who want to learn more about our products,” he said. “I can’t share the product roadmap yet, but if they would like to learn more about how WealthONE can help grow their business and support them and their clients, please give us a call or send us an email.”
Armstrong stressed he was grateful for his time at the community trust and had nothing negative to say about his former employer.
“I thoroughly enjoyed my time there,” he said. “I am fortunate to be part of the team developing this project and have nothing but gratitude and best wishes as they continue to grow and enter the next chapter of their plans for 2026.”
Meanwhile, Armstrong said he was excited to finally take the wraps off the services WealthONE will offer brokers as it launches its product to the market starting in the new year.
“Brokers should know that as we grow with the broker community, they are the banks to watch in 2026,” he said. “Brokers should absolutely be paying attention to what we are doing; we will be more present in the market, you will see us more, and we will continue to support mortgage brokers as their share of Canadian mortgages continues to grow.”
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Last modified: December 17, 2025
