TORONTO, Aug. 27, 2015 /CNW/ - CIBC's (TSX: CM) (NYSE: CM)
President and CEO, Victor Dodig,
today announced changes to the bank's organizational structure that
aligns to CIBC's focus on being a strong, innovative,
relationship-oriented bank.
"We've made much progress over the last year to continue to
strengthen how we serve our clients," said Mr. Dodig. "Today's
changes support our natural evolution and build upon our momentum
as we head into 2016."
Mr. Dodig said that these organizational changes place further
emphasis on three areas of strategic focus:
Innovating for the future - Increasing the focus and
investment in innovation to find new ways to add value and make
banking easier and more flexible for our clients is a top priority
for CIBC. While we have many firsts and is seen as an innovation
leader today, the industry is changing rapidly and is facing
competition from both traditional and emerging players.
David Williamson, Senior
Executive Vice-President and Group Head, Retail and Business
Banking, will lead this effort, taking on expanded responsibility
for bank-wide innovation.
Simplifying our bank - It's essential that we simplify
the bank to make it easier for our clients to do business, easier
to get work done and to free up resources to reinvest in the
business. Mike Capatides,
Senior Executive Vice-President, Chief Administrative Officer and
General Counsel, will take on expanded responsibility for these
efforts.
Focusing on our clients - Over the last year, CIBC has
put significant focus on executing on a client-focused strategy and
is committed to building on this momentum. Stephen Forbes, has been named Executive
Vice-President and Chief Commercial Officer, and will take on
expanded responsibility for the bank's goal of becoming the leader
in client relationships by enhancing their experience and
satisfaction at every interaction.
In addition, Mr. Dodig also announced the following changes:
- Geoff Belsher, Group
Co-Head of CIBC's Wholesale Banking business will be retiring from
CIBC, effective September 30.
"I would like to thank Geoff for his contributions to our
bank. He has been an important part of our team and we wish
him much success in the future," said Mr. Dodig.
- Harry Culham, has been
named Senior Executive Vice-President and Group Head, Wholesale
Banking. Under his leadership, Wholesale Banking will continue to
execute on its client-focused strategy.
- Laura Dottori-Attanasio,
Senior Executive Vice-President and Chief Risk Officer, will take
on expanded responsibility for Compliance and Anti-Money
Laundering.
- Kevin Patterson, Senior
Executive Vice-President, Technology and Operations, will take on
expanded responsibility for Corporate Security.
- Jon Hountalas, Executive
Vice-President, is taking on a new role overseeing CIBC's Business
and Corporate Banking businesses, reporting directly to
Victor Dodig, as well as having a
dotted line reporting relationship to David
Williamson and Harry Culham
to ensure that Retail and Business Banking and Wholesale Banking
financial results are achieved. He will join CIBC's Executive
Committee.
- Christina Kramer,
Executive Vice-President, Retail Distribution and Channel Strategy,
has taken on added responsibility for the operations of President's
Choice Financial. She will continue to report to David Williamson and will join CIBC's Executive
Committee.
- Sandy Sharman, has been
named Executive Vice-President and Chief Human Resources Officer,
with responsibility for talent and people strategies. She continues
to report to Mike Capatides and will
join CIBC's Executive Committee.
Steve Geist, Senior
Executive Vice-President and Group Head, Wealth Management, and
Kevin Glass, Senior Executive
Vice-President and Chief Financial Officer, continue with their
current responsibilities, reporting to Victor Dodig.
"With the changes we are announcing today, we will further the
work we began a year ago to make CIBC a strong, innovative,
relationship-oriented bank. I am proud of what we have accomplished
together and look forward to even greater success in 2016 as these
leaders assume their new roles and we increase the momentum and
intensity around innovation, transforming our bank and focusing on
our clients," added Mr. Dodig.
About CIBC
CIBC is a leading Canadian-based global financial institution
with 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 on our
corporate website at www.cibc.com/ca/media-centre/.
SOURCE CIBC