WealthONE Bank Acquisition by Globalive-Led Consortium Completed

Transaction positions federally chartered digital bank for expanded service to diverse Canadian markets

TORONTO, July 7, 2025 /CNW/ – Wealth One Bank of Canada (“WealthONE” or the “Bank”) and Globalive today announced the successful completion of the acquisition of WealthONE by a consortium of strategic investors led by Globalive, marking a transformative milestone for the federally chartered Schedule I digital bank.

The transaction provides WealthONE with the capital foundation and strategic expertise needed to accelerate its mission of delivering accessible, innovative banking solutions to a broad cross-section of Canadians, with particular focus on self-employed individuals, entrepreneurs, high net worth individuals, investors with multiple properties seeking specialized lending solutions, and newcomers to Canada.

“This acquisition positions WealthONE to compete more effectively as a challenger in Canada’s banking sector,” said Anthony Lacavera, Chairman of Globalive. “We’re committed to supporting the Bank’s growth trajectory and its important role in expanding financial inclusion across the country.”

Paul Leonard, President and CEO of WealthONE emphasized the Bank’s commitment to serving diverse Canadian communities: “We’re entering this new phase with renewed energy and resources to enhance our work in service of Canadians who have been underserved by traditional banking. Our focus remains on delivering straightforward, customer-centric solutions that our clients need to achieve their financial goals.”

Under the new ownership, WealthONE will advance its core mission of providing specialized lending solutions and exceptional everyday banking while expanding its reach through three key priorities:

• Digital Banking Excellence: Building on its recognition as one of Canada’s Top 3 Best Online Banks by Forbes Advisor, WealthONE will continue developing its full-service online and mobile banking platform to deliver safe, convenient, and responsive customer experiences.
• Expanding Specialized Solutions: The Bank will broaden its borrowing solutions for unique situations, leveraging its expertise across diverse client segments.
• Strengthened Customer Relationships: WealthONE will strengthen its highly personalized, multilingual customer service, while building strategic partnerships to drive continued innovation.

The acquisition consortium brings together investors with deep expertise across financial services, telecommunications, wealth management, and technology sectors. Key consortium members include:

• Beedie Capital – Multi-strategy investment platform representing one of western Canada’s largest private companies
• Grasslands Finance – Specializing in innovative lending solutions and life insurance financing
• Chris Kayat and Gary Mauris – Co-founders of Dominion Lending Centres with significant mortgage and lending expertise
• Optimize Financial Group – Comprehensive wealth management services provider
• Anthony Lacavera – Founder of Freedom Mobile and veteran of over 150 global ventures

“WealthONE is a unique Schedule I banking platform that can lead with a first principles and tech forward approach to delivering differentiated services into the traditionally slow moving, inflexible Canadian banking sector,” said David Bell, President of Beedie Capital.

Gary Mauris, co-founder and CEO of Dominion Lending Centres, added: “Joining WealthONE’s shareholder group is a milestone we’re thrilled to celebrate. The journey is challenging, but the opportunity to innovate and build a bank we’re proud to stand behind makes it all worthwhile.”

Matthew McGrath, President and CEO and Chief Investment Officer of Optimize Financial Group, said: “I could not be more excited to see how WealthONE gets transformed into an industry leading financial institution, fixated on its clients and focused on the future.”

The Bank’s newly constituted board combines seasoned financial services professionals with technology and regulatory expertise.

• John Webster (Board Chair) – Seasoned financial services executive with 37 years of experience in mortgage lending, trust services, and banking. His industry and governance expertise includes directorships at Manulife Bank of Canada, Manulife Trust Company, Scotia Mortgage Authority, and Maple TrustCo, as well as Cargojet Inc. and Dundee Financial Corp.
• Daniel Burns – Chair of CubicFarm Systems Corp and former Board Chair of Central 1 Credit Union
• Jason Cave – Regulatory expert with 30 years of experience at FHFA and FDIC
• Tuula Jalasjaa – Former Scotiabank senior executive, founder of The Women’s Collection, and current WealthONE director
• Alfred Lau – Private equity leader, former KPMG partner with 35 years of global experience, and current WealthONE director
• Simon Lockie – Corporate M&A lawyer and Chief Legal Officer at Globalive
• Matthew McGrath – President and CEO of Optimize Financial Group with 25 years in wealth management
• Gary Selke – President of Cypress Hill Capital and former CEO of Front Street Capital
• Paul Leonard (President and CEO) – Banking industry veteran instrumental in launching Canadian challenger banks

The Bank’s executive leadership team, led by CEO Paul Leonard, remains in place to ensure operational continuity.

A federally chartered Canadian Schedule 1 digital bank, headquartered in Toronto ON provides Canadians across the county with a safe, convenient, and responsive experience for their everyday banking, borrowing, savings and investing needs. WealthONE was recently recognized by Forbes Advisor as one of Canada’s Top 3 Best Online Banks: https://www.forbes.com/advisor/ca/banking/best-online-banks/.

Wealth One Bank of Canada is a member of the Canadian Deposit Insurance Corporation (CDIC). For more information about WealthONE, please visit: www.wealthonebankofcanada.com/About+Us/Why+WealthONE 

WealthONE is a registered trade name of Wealth One Bank of Canada in all provinces except Quebec. INFOR Financial Inc. acted as the exclusive financial advisor of the Bank on this transaction.

Globalive is the diversified investment company of Anthony Lacavera and partners. Globalive focuses on long term investments globally in the Telecom, Financial services, and Longevity industries. The Globalive team has a build studio focused on building and operating select high growth companies.

SOURCE Wealth One Bank of Canada