Lisa Hooey is redefining what it means to pursue a traditional career path
Lisa Hooey, a BCOM graduate double majoring in Finance and Marketing, had a successful career path at Scotiabank, being promoted to her dream job: Associate Director of Corporate Banking with a good salary, a pension, great colleagues, and a comfortable routine—all benefits that encouraged her to quit.
“I had a lot of people tell me, ‘You know people would die for your position’, and I really left it for nothing at the time,” says Hooey. Yet, it was the pandemic that inspired her to start thinking about a non-traditional career path where she plunged into entrepreneurship, hoping to find more meaning in her career.
Hooey’s search for purpose-driven work began in 2022 when she founded Freda Capital (external link) , an entrepreneurial investment fund created to acquire and lead a privately held business. Since 2024, Hooey has been the President and CEO of Community Resources and Support Services (CRSS) (external link) , a values-driven organization devoted to empowering people with complex needs through compassionate care and individualized support. CRSS creates spaces that foster community, growth, and independence, striving for a future where everyone can live their best lives.
A continuation of January’s newsletter story about Nunzio Presta and the topic of entrepreneurship through acquisition (ETA), this month revisits what it means to acquire and manage existing companies instead of starting new ventures from scratch.
“There's a lot of business owners that are looking to retire who don't have a succession plan. They don't have someone who can step into their shoes and take over the day-to-day operations,” explains Hooey. On the heels of retirement, the founder of CRSS was looking to transition the business to a new leader who could continue to expand its impact. And with personal and volunteer experiences in the disability space, Hooey found the mission of CRSS especially resonated with her. “The stars aligned between me and the seller,” says Hooey. “I’m very fortunate that she chose me to be her successor.”
Hooey acquired the organization through a search fund model—a method where entrepreneurs raise capital to find and acquire a privately held company with the intent to operate and grow it long-term. The first woman in Canada to independently become a founder and raise a traditional search fund in Canada, Hooey is proud to have taken risks in her career. “I was able to gather a group of like-minded individuals who were my partners and together we were able to provide a succession plan to someone in need,” she reveals. “I'm glad I did because it honestly worked out better in terms of not only finding a business to acquire and operate, but also finding real purpose and meaning along the way.”
During her studies at TMU (Toronto Metropolitan University), Hooey played varsity volleyball and was part of organizations such as the Ryerson Marketing Association. Now called the Ted Rogers Marketing Association (external link) , this is a student-run course union that works to bridge the gap between students and the marketing industry. Hooey suggests that by strengthening our alumni network and through helping one another, this is a helpful way to strengthen pride and belonging within the community.
“Really try to throw yourself at different things. Even if it's not exactly what you go into long term, it might round you out in ways that you don't even realize will be valuable later,” explains Hooey. She says that hands-on experiences and staying ahead of the curve have been the most powerful elements in her career journey, especially because you never know when you might run into your peers down the line.