TORONTO, Sept. 15, 2014 /CNW/ - Victor Dodig, President and CEO of CIBC (TSX:CM) (NYSE: CM), announced today that Chief Operating Officer
Richard Nesbitt, who originally planned to retire in October 2015, has
advanced his departure date and is now leaving the bank. Over the last
several months, Mr. Nesbitt has worked to ensure a smooth transition of
his responsibilities which the bank announced earlier today.
"I'd like to thank Richard for his many contributions to CIBC and the
Canadian capital markets over the course of his career," said Mr.
Dodig. "He played a key role over the last six years in setting a
strong foundation for CIBC's success and helped position the bank for
sustainable growth going forward. We wish him all the best in the
Mr. Nesbitt joined CIBC in 2008 as CEO of CIBC World Markets. In 2011,
he took on expanded responsibility for CIBC's international operations
and technology and operations division as well as responsibility for
the bank's strategy. In 2013, he was appointed Chief Operating Officer.
From 2004 to 2008 he was Chief Executive Officer of the TSX Group having
joined TSX as President of TSX Markets in 2001. Prior to joining the
company in 2001, Mr. Nesbitt served as President and Chief Operating
Officer of BayStreetDirect Inc., an Internet based investment dealer.
Before that Mr. Nesbitt was President and Chief Executive Officer of
HSBC Securities Canada for three years, after having worked for 10
years at CIBC Wood Gundy.
Mr. Nesbitt is Chair of the Finance Committee for the TORONTO 2015 Pan
Am/Parapan Am Games, a member of the Women in Capital Markets Advisory
Council, a member of the SickKids Foundation Board of Directors, a
member of the Rotman School of Management - Financial Services Advisory
Board, a member of the London School of Economics North American
Advisory Board and the Major Individuals Gifts Chair of the 2013 GTA
United Way Campaign.
He holds a M.Sc. in Accounting from the London School of Economics and
Political Science, an MBA from the University of Toronto, Rotman School
of Management and a B.A. (Honours) in Business Administration from the
University of Western Ontario, Richard Ivey School of Business.
CIBC is a leading Canadian-based global financial institution with
nearly 11 million personal banking and business clients. Through our
three major business units - Retail and Business Banking, Wealth
Management and Wholesale Banking - CIBC offers a full range of products
and services through its comprehensive electronic banking network,
branches and offices across Canada with offices in the United States
and around the world. You can find other news releases and information
about CIBC in our Media Centre on our corporate website at www.cibc.com.
For further information:
Kevin Dove, Head of External Communications, CIBC, 416-980-8835, email@example.com