Don Coulter has resigned from his position as CEO of Coast Capital Savings to pursue an opportunity with another financial institution, Coast Capital announced Wednesday. (File photo)

CEO exits Surrey-based Coast Capital Savings, interim boss named

Outgoing CEO Don Coulter ‘to pursue an opportunity with another financial institution’

SURREY — Coast Capital Savings’ boss is leaving his job for another financial institution.

Don Coulter has resigned as CEO of the Surrey-headquartered Coast Capital, where he worked for the past eight years “alongside such a fantastic team of amazing individuals,” he stated in a company-issued press release Wednesday (Jan. 10).

“Coast Capital is well positioned for incredible success in the coming years, with a strong leadership team in place dedicated to the organization’s purpose to empower its members and employees to achieve what’s important in their lives,” Coulter stated.

“I look forward to cheering from the sidelines as I watch the progress of Coast Capital.”

Regina-based Concentra Bank on Wednesday announced the appointment of Coulter as president and CEO, according to a report on the website investmentexecutive.com. Concentra is the wholesale bank and trust company for Canada’s credit unions, according to the website.

Coast Capital, which boasts 52 branches and 543,000 members across B.C., claims to be “Canada’s largest credit union by membership, with over $20 billion in assets under administration.”

Also Wednesday, the institution’s board of directors announced the appointment of Bruce Schouten, currently its Chief Risk Officer, as interim President and CEO, with a “fulsome search” for a permanent CEO set to begin.

Coulter joined Coast Capital in September 2009 as Chief Financial Officer, and was appointed CEO in 2014.

• READ MORE: Coast Capital Savings names Don Coulter president, from November 2014.

“Don is an inspiring leader who has shown terrific dedication to continually growing and enhancing Coast Capital for the benefit of our members and employees,” stated Bill Cooke, chair of Coast Capital’s board of directors.

“While we are saddened that Don has chosen to pursue a new opportunity, we are grateful for the strong legacy he leaves behind.”

Meanwhile, Schouten joined Coast Capital in January 2016, and has more than 20 years of experience in the financial services industry, including work at TD Bank and the Office of the Superintendent of Financial Institutions.

“Bruce is an accomplished and collaborative leader who has been instrumental in pursuing our goal to help our members achieve financial well-being,” Cooke added.

• READ MORE: Coast Capital Savings”striking’ new Surrey landmark unveiled, from January 2016.

In 2016, during Coulter’s time with the company, Coast Capital Savings moved into a striking new building, dubbed its “Help Headquarters,” at 9900 King George Blvd., Surrey. PCI Developments Corp. constructed the 185,000-square-foot facility, the first of four phases of a planned mixed-used and transit-oriented community.

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