Also named one of the top employers in Greater Toronto
TORONTO, Nov. 17, 2011 /CNW/ - CIBC (TSX: CM; NYSE: CM) has been selected as one of Canada's 10 Most
Admired Corporate Cultures by Waterstone Human Capital, a leading
recruitment and human resources firm.
As one of Canada's Most Admired Corporate Cultures for 2011, CIBC was chosen for promoting a culture that has helped to
enhance performance and sustain a competitive advantage.
In making its selection, Waterstone noted that in 2010 CIBC's average
shareholder return led the major Canadian banks and its return on
equity was the strongest of any major bank in the developed world.
Waterstone said that CIBC's Employee Commitment Index, as measured by
its annual Employee Survey, increased for the sixth consecutive year in
2010, reaching its highest level since the index was introduced in
1998. In addition, Waterstone stated that CIBC's commitment to
corporate social responsibility is integrated into its operations,
business practices, and corporate culture.
Waterstone's Chairman and CEO Marty Parker said the award "recognizes
the importance of great workplaces, but more importantly - great
workplaces where culture impacts performance. Culture is a strategic
competitive advantage - we are convinced it is the single greatest
asset an organization can have."
CIBC has also been named as one of Greater Toronto's Top Employers by
Mediacorp, Canada's largest publisher of quality employment
Mediacorp cited the bank's leadership in offering an exceptional place
to work for its more than 19,000 employees in the Toronto area. CIBC
was recognized for providing employees with parental leave top-up
payments and benefits coverage during leaves, along with its employee
referral and employee share purchase programs.
Mediacorp's annual review of Greater Toronto's Top Employers is organized by the editors of Canada's Top 100 Employers.
"We are very pleased to receive these awards," said CIBC President and
CEO Gerry McCaughey. "They reflect CIBC's strong focus on developing a
supportive, high-performing culture where our employees can excel and
where we can continue to deliver consistent and sustainable
CIBC is a leading North American financial institution with nearly 11
million personal banking and business clients. CIBC offers a full range
of products and services through its comprehensive electronic banking
network, branches and offices across Canada, and has offices in the
United States and around the world. You can find other news releases
and information about CIBC in our Press Centre on our corporate website
For further information:
Rob McLeod, Senior Director, External Communications and Media Relations: (416) 980-3714 or firstname.lastname@example.org