TORONTO, Sept. 15, 2014 /CNW/ - Victor Dodig, President and CEO of CIBC (TSX:CM) (NYSE:CM), announced today that Tom Woods, Senior Executive Vice-President and Vice-Chairman, CIBC, will be retiring from CIBC effective December 31, 2014, concluding what has been a long and distinguished career at the bank, spanning investment banking, corporate banking, finance and risk management. In the interim, he will report directly to Mr. Dodig and assist with the transition of the CEO office in the coming months.
Mr. Woods has spent his entire career with CIBC. He joined Wood Gundy, the predecessor firm of CIBC World Markets, in investment banking in 1977, following which he was named Head of Canadian Corporate Banking, CIBC's Chief Financial Officer (2000-2007), Chief Risk Officer (2008-2013), and most recently serving as a Vice-Chairman of the bank.
"Tom has made an outstanding contribution in his 37 years at CIBC," said Mr. Dodig. "In particular, he played a key role in building trust and confidence with the investment community in his time as Chief Financial Officer and Chief Risk Officer. We wish him well in his upcoming retirement."
Mr. Woods serves on the boards of TMX Group; St. Joseph's Health Centre, and the Board of Advisors of the Department of Mechanical and Industrial Engineering, University of Toronto. He also spent many years affiliated with Covenant House, including Board Chair in Toronto, and as the only international board member for Covenant House in New York.
Mr. Woods graduated from the University of Toronto in 1975 with a Bachelor of Applied Science degree in Industrial Engineering. He earned his Master's in Business Administration from Harvard Business School in 1977.
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 protected]