TORONTO, May 12 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced a
number of senior level appointments to further build on the bank's
performance and to support the client-focused implementation of its
Specifically, the following appointments are being made today:
Geoff Belsher, Managing Director and Global Head, Investment Banking, and Harry Culham, Managing Director and Global Head, Capital Markets Trading, have been
named Group Co-Heads, Wholesale Banking, CIBC.
Mr. Belsher will maintain management of CIBC's global investment banking
business and assume reporting responsibility for regional offices in
New York, London and Hong Kong.
Mr. Culham will assume global responsibility for all Wholesale Banking
Capital Markets businesses, including Fixed Income, Currencies and
Distribution; Cash Equities; Global Derivatives and Strategic Risk; and
management of our Chief Investment Officer activities.
In their new roles, Mr. Belsher and Mr. Culham will have joint
responsibility for the day-to-day operation of the Wholesale Banking
Corporate banking, real estate lending and trading credit are key
strategic priorities for the Wholesale Banking business. In support of
this, Corporate Credit Products, led by Laura Dottori as Managing Director and Global Head, will be expanded to include the
portfolio management of all Wholesale lending and credit activities.
In her leadership role, Ms. Dottori will be responsible for oversight
of all credit activities on behalf of Wholesale Banking.
John Orr, Chief Executive Officer, FirstCaribbean International Bank (FCIB), is
appointed Executive Vice-President, Strategy and Corporate Development,
CIBC, based in Toronto. Replacing Mr. Orr as the new CEO of
FirstCaribbean is Rik Parkhill, currently Managing Director and Head, Cash Equities. Mr. Parkhill
will be based in Barbados and will assume this role over the next few
months, pending regulatory approvals.
"These appointments position us well to continue our focus on delivering
consistent, sustainable results in our core client-focused businesses
while pursuing further opportunities for risk-controlled growth over
the next three years," said Richard Nesbitt, Senior Executive Vice
President, CIBC, and Group Head, Wholesale, International and
Technology and Operations.
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
This news release contains forward-looking statements within the meaning
of certain securities laws. By their nature, these statements require
us to make assumptions and are subject to inherent risks and
uncertainties that may be general or specific. A variety of factors,
many of which are beyond our control could cause actual results to
differ materially from the expectations expressed in any of our
forward-looking statements. These factors should be considered
carefully and readers should not place undue reliance on our
forward-looking statements. We do not undertake to update any
forward-looking statement except as required by law.
For further information:
Kevin Dove, Communications and Public Affairs at 416-980-8835, firstname.lastname@example.org