Calgary, Alberta—the RECA Board of Directors is pleased to announce Russ Morrow as the new Chief Executive Officer (CEO) of RECA. Morrow will officially assume the role on August 9, 2021.
Hailing from Edmonton, Morrow comes to RECA with extensive experience in the banking industry both as a participant in a regulated industry, and as part of the regulator. Morrow spent 13 years in the credit union industry as a senior executive and CEO at River City Credit Union, ABCU Credit Union, and as a senior manager at ATB Financial. He also served as an assistant vice president at the Credit Union Deposit Guarantee Corporation, the regulatory body for credit unions in Alberta. Morrow also holds an M.B.A. from McGill University.
“On behalf of the Board, I welcome Russ Morrow to RECA and to this important leadership role,” said Board Chair Patricia McLeod, “With his extensive experience in leading organizations, and his experience on both sides of a regulated industry, the Board has full confidence in Russ and his ability to lead RECA into this new era of regulation in the real estate industry.”
The CEO is a role appointed by, and responsible to, the Board of Directors. The CEO acts as the chief administrative officer of RECA, and will be the Board’s sole employee relationship with RECA staff.
“I appreciate the confidence of the Board, and I look forward to hitting the ground running as CEO,” said Morrow. “One of my first acts in the role will be to plan meetings with all major stakeholder groups, and to get to know everyone I can in the industry to best prepare myself, and RECA, for success.”
The position of CEO was previously called the Executive Director. Through a resolution by the Board, the CEO will take over all powers and responsibilities from the Real Estate Act that are prescribed to the Executive Director.
“Filling the CEO position has been one of the most important tasks for the Board since our forming in December 2020,” continued McLeod. “I look forward to working closely with Russ as we guide RECA in ensuring it fulfills its consumer protection mandate and remains focused on licensing and enforcement.”