UPDATE 1-Home Capital names new CEO ending months-long search

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July 12 (Reuters) - Canadian lender Home Capital Group Inc appointed Yousry Bissada as its chief executive, bringing to an end a search it started in March after it terminated the employment of former CEO Martin Reid.

Bissada, who will take charge on Aug. 3, is a mortgage and financial services industry veteran with a career spanning 30 years, the company said on Wednesday.

"(Bissada) has extensive industry experience ... having led a number of business transformations," said Brenda Eprile, chair of Home Capital's board.

Reid's departure had sparked a withdrawal of funds from Home Capital's high interest savings accounts which accelerated after April 19, when Canada's biggest securities regulator, the Ontario Securities Commission, accused the lender of making misleading statements to investors about its mortgage underwriting business.

The company has since been looking to build on an inflow of deposits after agreeing to a C$2 billion ($1.5 billion) financing deal with Warren Buffett's Berkshire Hathaway Inc in June. Bissada, 57, is currently the chief executive of Kanetix Ltd, a provider of digital services to the insurance market. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Sriraj Kalluvila)