Rob Paterson of Alterna Savings & Credit Union is part of this year's Wealth Professional Canada's Hot List.
ALTERNA SAVINGS & CREDIT UNION
The performance of cannabis stocks in 2017 was one of the major investment stories of the past year. But like any business, cannabis companies need financing to survive and then grow. This initially presented a real challenge to the industry, as Canada’s banks uniformly turned up their noses at the prospect of loaning money to a cannabis producer.
Alterna CEO Rob Paterson proved to be somewhat of an outlier in that respect, and today he has become the go-to banker for the cannabis industry. With $750 million in cannabis-related business, Alterna has six commercial bankers who specialize in this burgeoning industry, and claims clients in British Columbia, Alberta, New Brunswick, Quebec and Ontario.