Broker Resources

Invested in Canadian Communities

MCAN Financial Group generates growth for investors by providing access to unique financing and investment opportunities through strategic investment in a specialized portfolio of Canadian mortgages, loans, private investment funds, and REITs.

Learn more
Our Mission

To provide sustainable growth and returns to stakeholders through relationship-driven lending and investing activities and quality work delivered by an expert team focused on excellent client service.

Total Assets 31 Dec 2022
Corporate Asset Growth 2022
Return on Shareholders’ Equity 2022
5-year Total Shareholder Return

MCAN is a Loan Company under the Trust and Loan Companies Act (Canada). As a Loan Company, the Company is subject to the guidelines and regulations of the Office of the Superintendent of Financial Institutions Canada (OSFI). This means that our business policies and operations are conducted in accordance with the rigour expected by OSFI for financial institutions. This also means that we have access to raise funding for our balance sheet from term deposits that are insurable by the CDIC. We have been issuing low-cost term deposits since 1993 as a primary funding source for our business.

MCAN is a Mortgage Investment Corporation (MIC) under the Income Tax Act (Canada). Working within the criteria permitted for MICs, we strive to provide our shareholders with consistent and stable dividends. As a MIC, we are entitled to deduct the dividends we pay to shareholders from our taxable income. Being a MIC also means that our operating leverage is lower than other regulated financial institutions, which is more conservative for our shareholders.

Our History

Since 1992, our goal has been to be the preferred mortgage lender and investor in our chosen markets in Canada.


MCAN Wealth Launch

January 2024 MCAN launches MCAN Wealth direct-to-client GIC channel to provide Canadians with opportunities to THINK BIG and invest in future goals.

MCAN Financial Group Launch

MCAN unveils its new brand under the name MCAN Financial Group

Renaming of wholly owned subsidiary XMC Mortgage Corporation to MCAN Home Mortgage Corporation

30th anniversary of MCAN’s organization as a public company and listing on the TSX

Records Achieved

Successfully raised $53M in new capital via two oversubscribed right offerings.

Achieved record growth in corporate assets.


Renaming of wholly owned subsidiary Xceed Mortgage Corporation to XMC Mortgage Corporation

Celebrated 25 years as a publicly listed company


Successfully raised $15 million in new capital via an oversubscribed rights offering


MCAN acquires 100% of the shares of Xceed Mortgage Corporation, an established mortgage origination and underwriting platform, for $53 million


MCAN invests a further $14 million in MCLP, while MCAP acquires the 80% of MCAP Service Corporation that it did not own

MCAN completes its third rights offering, raising $20 million

 <p>MCAN completes its first public share offering since 1992, raising $31 million</p>

Doré, Sutherland & Stuebing Inc. form Interior Capital Corporation

Interior Capital Corporation purchases Interior Trust Company, a Manitoba trust company, from the Royal Bank of Canada and National Trust Company

Interior Capital Corporation sells 75% of Interior Trust Company to Mutual Life Assurance Company

Mutual Life becomes Clarica and ultimately Sun Life

Interior Trust Company later renamed Mutual Trust Company and became a direct subsidiary of Mutual Life Assurance Company


Capital Management

MCAN’s lending activities are supported by a risk appetite statement that is developed as part of our strategic planning process. The risk appetite takes into account our MIC structure and the limitations imposed by the Income Tax Act (Canada), as well as regulatory requirements of OSFI and CDIC. At all times we manage our investment operations to qualify as a MIC to allow tax efficient distributions to our shareholders. Key limits that we adhere to, and our objectives are below.

Liabilities to capital ratio of 5:1 (or assets to capital ratio of 6:1)

Minimum Tier 1 and Total capital ratios of 7% and 10.5% respectively, as required by OSFI

Minimum of 67% of non-consolidated assets held in cash, cash equivalents and residential mortgages

Maintain sufficient capital for regulatory purposes and to earn acceptable and sustainable risk-weighted returns for our shareholders

MCAN Leadership

MCAN’s dynamic and diverse leadership team offers a breadth of real estate industry knowledge and experience. Get to know the members of our leadership team below.

Don Coulter

President & Chief Executive Officer

Learn More

Floriana Cipollone

SVP, Chief Financial Officer

Learn More
Avish Buck, Senior Vice President and Chief Operating Officer _headshot

Avish Buck

SVP, Chief Operating Officer;
President, MCAN Home Mortgage Corporation

Learn More

Carl Brown

SVP, Investments

Learn More
Aaron Corr, Chief Risk Officer

Aaron Corr

VP, Chief Risk Officer

Learn More

Michelle Liotta

VP, Human Resources

Learn More

Paul Gill

VP, Information Technology

Learn More

Mike Jensen

VP, Chief Compliance Officer

Learn More

Nazeera Khan

VP and Chief Audit Officer

Learn More

Sylvia Pinto

VP Corporate Secretary and Governance Officer

Board of Directors

Derek Sutherland, Chairman of the Board_headshot

Derek Sutherland

Director since May 2017 Chair, MCAN Mortgage Corporation President, Canadazil Capital Inc.

Learn More

John Coke

Director since May 2021 | Member of Audit Committee Member of Enterprise Risk Management & Compliance Committee

Bonnie Agostinho

Director since May 2022 | Chief Information Officer, Canadian Tire Bank | Member of Audit Committee Member of Enterprise Risk Management & Compliance Committee

Gaelen Morphet

Director since January 2018 | Director, Morphet Family Wealth Advisors Inc. | Ceased to be Chair of Conduct Review, Corporate Governance & Human Resources Committee on May 9, 2023. Member of Conduct Review, Corporate Governance & Human Resources Committee Member of Enterprise Risk Management & Compliance Committee

Brian Chu

Director since May 2021 | Founding Partner of Bogart Robertson & Chu LLP | Appointed the new Chair of Conduct Review, Corporate Governance & Human Resources Committee on May 9, 2023 Member of Enterprise Risk Management & Compliance Committee

Glenn Doré

Director since May 2020 | President, Teff Administration Inc. | Member of Audit Committee Member of Conduct Review, Corporate Governance & Human Resources Committee

Gordon Herridge

Director since May 2018 | Chair of Audit Committee, Member of Conduct Review, Corporate Governance & Human Resources Committee

Phillip Gillin

Director since May 2020 | Chair of Enterprise Risk Management & Compliance Committee, Member of Audit Committee



MCAN’s values and culture are rooted in our people, and we have been committed for many years to responsible environmental, social and governance practices with a focus on:

  • Providing capital and loans to real estate developers and investment funds who are committed to community and climate-based responsible development, primarily for residential density development in urban communities close to mass transit;
  • Cultivating a highly capable, inclusive and diverse team, whose foundation is backed by a set of comprehensive policies and programs to support team culture, career development, and community programs; and
  • Strong governance and risk culture aligned with being a public company and a regulated financial institution focused on our stakeholders, including our shareholders, customers, business partners and team members.
Learn More
Invested in Canadian Communities

People First, Performance Driven Investment Solutions

MCAN amplifies growth for investors of all sizes by providing unique access to multiple channels of the Canadian real estate market.

Learn More