CIBC President and CEO Victor Dodig Announces Key Executive Appointments

TORONTO, Sept. 15, 2014 /CNW/ - CIBC (TSX: CM) (NYSE: CM) President and CEO Victor Dodig today announced a new executive leadership structure and the bank's executive leadership team.

"The appointments we are announcing today underscore the strength of our senior leadership team talent and provide the continuity needed to build on the positive momentum we have generated over the last number of years. By providing key members of the team with new or expanded mandates, we are ensuring the stability required to drive growth and enhance our client-focused agenda," said Mr. Dodig. "The experience of this team combined with our strong foundation, strong capital base, leading retail and wholesale banking franchises, as well as our North American wealth management platform, position CIBC for continued long-term success."

CIBC's executive leadership structure will include an Executive Committee which is comprised of the following executives and replaces the Senior Executive Team structure:

David Williamson has been named Senior Executive Vice-President and Group Head, Retail and Business Banking. In this role, Mr. Williamson will continue to execute our client-focused strategy for Retail and Business Banking, and will also assume expanded responsibility for CIBC FirstCaribbean International Bank. "Over the last three years, David has done an excellent job of repositioning our retail banking business in Canada with a strong focus on clients and accelerating profitable revenue growth. He will be extending the same discipline and focus to our CIBC FirstCaribbean business," said Mr. Dodig.

Steve Geist has been named Senior Executive Vice-President and Group Head, Wealth Management. In this role, Mr. Geist assumes leadership for our wealth management franchise in Canada and the U.S. He joined CIBC in 2006, as President and CEO, CIBC Asset Management. Prior to joining CIBC, he was President, Mutual Funds, at a top five bank in Canada. Under Mr. Geist's leadership, CIBC Asset Management has achieved superior growth with record assets of over $100 billion, driven by five consecutive years of net sales records.

Harry Culham has been named Managing Director and Group Co-Head, Wholesale Banking. In this role, he will continue to lead CIBC's global capital markets business and assume expanded responsibility for Wholesale Banking's international business. Mr. Culham re-joined CIBC in 2008, and has extensive experience in leading capital markets businesses with global investment banks in Canada, the U.K., Europe and Asia.

Geoff Belsher has been named Managing Director and Group Co-Head, Wholesale Banking. In this role, he will continue to lead CIBC's investment banking operations as well as assume responsibility for CIBC's corporate lending business globally. Prior to joining CIBC in 2009, Mr. Belsher held senior positions at a number of Canadian and global investment banks advising on a wide range of significant domestic and cross border transactions.

Kevin Glass has been named Senior Executive Vice-President and Chief Financial Officer. In this role, his mandate has been expanded to include Treasury. He has been with CIBC since 2009, and was named Chief Financial Officer in 2011. Prior to joining CIBC, Mr. Glass was Chief Financial Officer for a number of public companies in Canada.

Mike Capatides has been named Senior Executive Vice-President, Chief Administrative Officer and General Counsel. In addition to his current responsibilities for legal, human resources and compliance, he will assume leadership for CIBC's strategy and corporate development activities. Mr. Capatides, who joined CIBC in 1996, was appointed to the role of Senior Executive Vice-President, Chief Administrative Officer and General Counsel in 2008.

Laura Dottori-Attanasio has been named Senior Executive Vice-President and Chief Risk Officer. In addition to Risk, she will take on responsibility for CIBC's control group. Ms. Dottori-Attanasio joined CIBC as Global Head of Corporate Credit Products in 2009, before becoming CIBC's Chief Risk Officer in 2013.

Kevin Patterson has been named Senior Executive Vice-President, Technology and Operations. In this role, he will expand his current technology and operations responsibilities to include the chief data office of the bank. Mr. Patterson has been with CIBC since 1984, and has held a number of increasingly senior roles in retail, technology and operations, audit and corporate security, control and governance prior to assuming leadership for technology and operations in 2010.

The CIBC leadership group will also include a newly formed Operating Committee, which includes members of the Executive Committee and other key business functions at CIBC. The members of the Operating Committee include:

Stephen Forbes has been named Executive Vice-President, Brand, Corporate and Client Relationships with expanded responsibility for CIBC's strategic corporate partnerships and key client relationships. He will also maintain his existing responsibilities for marketing, communications and public affairs, retail and business banking strategy and President's Choice Financial. In this new role, he will report directly to Mr. Dodig with a dotted line to Mr. Williamson. In addition, Mr. Forbes will work to develop a bank-wide client coverage model for CIBC's top clients as part of an enhanced client-focused agenda.

Jackie Moss has been named Executive Vice-President, Strategy and Corporate Development, reporting to Mr. Capatides. In this role, she will be responsible for developing a bank-wide corporate strategy working closely with the President and CEO and other members of the Executive Committee. She will also be responsible for identifying potential acquisition opportunities in support of the bank's client-focused growth strategy. Ms. Moss brings significant expertise to this role, having served as legal advisor at CIBC, and previously as a partner at a major law firm in Canada, on domestic and international transactions, prior to leading human resources. The existing strategy and corporate development team will now report to Ms. Moss.

Sandy Sharman has been named Executive Vice-President, Human Resources. Reporting to Mr. Capatides, she will be accountable for developing and delivering CIBC's people, talent and leadership strategies. Ms. Sharman returned to CIBC in 2013, as Senior Vice-President, Human Resources, Business Client Groups. She has over 20 years of financial services experience in retail banking, wealth management and human resources in Canada and the U.S.

Additional members of the Operating Committee include:

• Jon Hountalas, Executive Vice-President, Business Banking
• Christina Kramer, Executive Vice-President, Retail Distribution and Channel Strategy
• Jenny Fagg, Executive Vice-President, Products and Payments
• Rik Parkhill, CEO, CIBC FirstCaribbean International Bank
• Gary Brown, Managing Director and Global Head, Corporate Banking
• Roman Dubczak, Managing Director and Head, Equity Markets
• Christian Exshaw, Managing Director and Head, Capital Markets Trading
• Monique Gravel, Managing Director and Head, CIBC Wood Gundy
• Jack Markwalter, Chairman and CEO, Atlantic Trust
• Peter Levitt, Executive Vice-President and Treasurer
• Anil Mathur, Senior Vice-President and Chief Auditor

"Today's senior leadership appointments reflect our strong performance, the continuation of our strategy and our evolving focus on our clients and on growth," added Mr. Dodig. "Please join me in congratulating the team on their new or expanded mandates and in wishing them continuing success moving forward."

About CIBC

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.

SOURCE: CIBC