TORONTO, April 11, 2012 /CNW/ - CIBC (TSX: CM) (NYSE: CM) has won the 'Deal or the Year' award for its acquisition of an equity stake in American Century Investments.
The award was presented at the 19th Annual Mutual Fund Industry Awards in New York and recognizes the merger and acquisition deal that has most changed the landscape of the American fund industry in 2011.
"CIBC's investment in American Century has enhanced the strength of our Wealth Management franchise and provides a platform for further growth internationally," said CIBC Senior Executive Vice President Victor Dodig. "It has also established an important presence for CIBC in the world's largest asset management market with an experienced partner and strong leadership team."
The 19th Annual Mutual Fund Industry Awards recognize the funds, fund leaders, marketers, trustees and independent counsel who stood out for their successes, achievements and contributions in 2011.
CIBC was also honoured at the event with the Expect Miracles Corporate Commitment Award in recognition of more than 15 years as title sponsor of the CIBC Run for the Cure.
CIBC is a leading Canadian-based global financial institution. Through our Retail and Business Banking, Wealth Management and Wholesale Banking businesses, CIBC provides a full range of financial products and services to almost 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. CIBC Wealth Management provides a comprehensive suite of wealth-building services through an extensive distribution network and industry-leading investment solutions.
About American Century Investments
American Century Investments® is a leading, privately-controlled asset management firm, serving financial intermediaries, institutions and individuals. Since its founding in 1958, the company has been committed to delivering superior investment performance and building long-term client relationships. Through its ownership structure, more than 40% of American Century Investments' profits support research to help find cures for genetically-based diseases including cancer, diabetes and dementia.
You can find other news releases and information about CIBC in our Press Centre on our corporate website at www.cibc.com.
For further information:
Media contact: Sean Hamilton, Director, CIBC External Communications, 416-304-8456.