Banking and fintech executive Naga Parvatharajan will take over the reins at the Toronto-based fintech. Co-CEOs Alyssa Furtado and James Laird, who founded the company in 2010, will continue to be board members and strategic advisors, with Laird continuing as the broker of record at the company’s mortgage brokerage business. (The Logic)

Talking point: Ratehub runs Ratehub.ca, a mortgage brokerage and website that compares financial products. It also owns mortgage lender CanWise, insurance brokerage RH Insurance and the personal finance website MoneySense. In a release, Parvatharajan said he plans to take advantage of falling interest rates to “double down on” Ratehub’s mortgage-origination business. The Bank of Canada dropped its benchmark interest rate to 4.75 per cent earlier this week, its first interest-rate cut in more than four years, after an aggressive fight against inflation. Private equity firm Novacap acquired a majority stake in Ratehub in 2022, declining to disclose the amount of the investment or size of the stake.