Canadian FinTech community mourns Equitable Bank CEO Andrew Moor

People in the Canadian FinTech industry are sharing their grief following the unexpected death of Equitable Bank CEO Andrew Moor last weekend at the age of 65.

Moor had been scheduled to speak at a Toronto Tech week FinTech event planned for June 26 and run by PwC, Wealthsimple, Tech Thursday, and Xero. In recognition of the loss, the event has been cancelled.

Equitable board chair Vincenza Sera said in a statement that the death was a “tragic loss,” and that Moor campaigned for “change and innovation” in Canadian banking.

“He held the strongest belief that banking and its related products and services should be inclusive, and he didn’t stop poking and prodding the industry to do more.”
Adam Cox
Open Banking Expo

“As a result of his inspired stewardship of our company, he instilled a culture at EQB that is both forward looking and faithful to the sound principles of prudent banking that engender public trust,” Sera said.

Wealthsimple co-founder Michael Katchen said in a LinkedIn post that he was “heartbroken” by Moor’s passing, calling the executive one of the “original champions” of Canada’s FinTech space.

“He was a force of nature, full of strong, unshakable convictions and just so fun to be around,” Katchen said.

In his own LinkedIn post, Borrowell co-founder Andrew Graham described Moor’s death as a “huge loss.” He recounted how the late executive’s choice to fund Borrowell represented a “major turning point,” that quickly rallied other investors. He called Moor one of the “foremost” proponents of open banking (which would require banks to securely share financial data on request) and its potential for improving competition.

Nesto CEO Malik Yacoubi also mourned on LinkedIn, noting that Moor backed his company when it was a small 12-person startup.

Adam Cox, the co-creator of the Open Banking Expo, told LinkedIn followers that Moor was an “inspirational leader” who backed his event “from day one.” Cox also characterized Moor as a perpetual challenger to banking incumbents.

“He held the strongest belief that banking and its related products and services should be inclusive, and he didn’t stop poking and prodding the industry to do more to make this happen,” Cox wrote.

Accordingly, PwC Canadian open banking head Abraham Tachjian, long an advocate for reforming the banking system, said on LinkedIn that the news “shook” him and that Moor’s support “undoubtedly” helped his efforts advance.

The Globe and Mail first reported Moor’s passing, which Equitable Bank confirmed later. The bank didn’t disclose the cause of death. He is survived by his wife and three children.

Chief risk officer Marlene Lenarduzzi is serving as interim CEO effective immediately. Succession planning for Moor was in the “very advanced” stages when he died, Equitable director of PR and communications Maggie Hall said, and a permanent CEO will be announced in the “very near term.”

Moor had been CEO of Equitable Bank since 2007 and made it the one of the largest challenger banks in Canada. During his tenure, assets under management grew from $4.4 billion to $134 billion. He consistently pressed for regulatory changes that would allow open banking.

The federal government has committed to progress on open banking through its Consumer-Driven Banking Framework, but in December delayed the rollout from 2025 to 2026. Critics like former Canadian Internet Registration Authority (CIRA) member Andrew Escobar have lambasted the government for neglecting to introduce tiered accreditation (layered data access based on needs), which he claims would have let “developers of all sizes,” including FinTech companies, benefit from open banking.

Feature image courtesy of Equitable Bank.