TORONTO and CHICAGO, June 25, 2018 /PRNewswire/ -- CIBC (TSX: CM) (NYSE: CM) announced today that CIBC Atlantic Trust Private Wealth Management will join the bank's broader North American wealth management businesses in operating under the CIBC Private Wealth Management name.
"CIBC's U.S. private wealth business now manages and administers more than $52 billion in assets in 19 cities across the U.S.," said Larry D. Richman, Senior Executive Vice-President and Group Head, CIBC U.S. Region, and President and Chief Executive Officer, CIBC Bank USA. "As we continue to build our U.S. platform, coming together under the CIBC Private Wealth Management name promotes the robust complement of investment management, wealth planning, trust, and private banking services that we now provide to our clients and their families."
Additionally, several legal entities will be renamed. Atlantic Trust Company, N.A. will be known as CIBC National Trust Company; Atlantic Trust Company of Delaware as CIBC Delaware Trust Company; and AT Investment Advisers, Inc. as CIBC Private Wealth Advisors, Inc., all of which are wholly owned subsidiaries of CIBC Private Wealth Group, LLC (formerly Atlantic Trust Group, LLC).
"Our CIBC Atlantic Trust team joins our CIBC colleagues under a name that is known for client-first focus and a commitment to delivering the highest-quality client experience," said Jack Markwalter, CEO, CIBC Private Wealth Management for the U.S. "As one CIBC, our clients will have the same team with access to the deep resources of one of North America's strongest banks."
CIBC (NYSE: CM) (TSX: CM) strives to build trusting and enduring relationships by putting our clients at the center of all we do. CIBC Private Wealth Management provides investment management, wealth planning, and trust services. Through CIBC Bank USA, we offer tailored commercial, private banking, personal and small business financial solutions. CIBC is a 150-year-old Toronto-based, global financial institution with our U.S. headquarters in Chicago. Visit us at cibc.com/US.