Strengthens CIBC's goal to be Canada's leading green energy investment bank
OTTAWA, April 6 /CNW/ - CIBC announced today that it has appointed Don Roberts as Vice Chairman, renewable energy and clean technology in its wholesale banking group. Mr. Roberts' role will be to integrate the bank's expanding efforts in investment banking, lending and trading to provide capital and advice to companies within these high-growth sectors.
"It is clear that the market for clean and renewable sources of energy is growing in Canada and across North America," says Richard Nesbitt, Chairman and Chief Executive Officer of CIBC's Wholesale Banking division. "Governments across the continent are drafting and enacting legislation to create new opportunities for green technologies. Many Canadian companies are emerging as leaders in the sector and will need increased access to capital. CIBC has assisted many of these companies in the past and we plan to reach out to all players in the marketplace to determine how we can help them respond to growing opportunities."
While Mr. Roberts will focus on companies in the renewable energy and clean technology sectors, he will also explore opportunities in the emerging carbon and water markets, as well as the future of the forest industry.
Mr. Roberts has been a leading equity analyst in Canada for the past decade, ranking number one in seven of the past 10 years. He is regarded as a global thought-leader in the fields of bio-energy and forest products, and spent the last year analyzing opportunities for growth in both the clean energy and forestry sectors. Mr. Roberts holds an M.B.A. (Hon), in Finance, from the University of Chicago, an M.S. in Forestry Economics from the University of California at Berkeley, and a B.Sc. (Hon) in Resource Economics from the University of British Columbia.
"Having studied this space extensively, I believe the sector provides significant growth opportunities for developers and investors alike," says Mr. Roberts, who will coordinate CIBC's corporate lending, debt and equity financing, M&A advisory and trading activities. "Total capital invested in clean energy has increased 60 per cent over the last five years. I expect investment to grow even faster in the coming years with technological and cost breakthroughs coming at a rapid rate."
CIBC's wholesale banking business provides a range of integrated credit and capital markets products, investment banking, and merchant banking to clients in key financial markets in North America and around the world. We provide innovative capital solutions and advisory expertise across a wide range of industries as well as top-ranked research for our corporate, government and institutional clients.
For further information: For further information: Kevin Dove, Communications and Public Affairs at (416) 980-8835, email@example.com