Moves further strengthen the bank's senior
leadership, and supports the continued execution of its
client-focused strategy and business momentum
TORONTO, March 7,
2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) President
and CEO Victor Dodig today announced
senior leadership appointments to support the bank's continued
execution of its client-focused strategy, deepen its leadership
capabilities and enable continued business momentum.
"Across our bank, we have a highly connected team that is acting
with purpose to make ambitions a reality as we execute our
client-focused strategy," said Mr. Dodig. "This has been a
cornerstone of our success and the leadership changes we are
announcing today further reinforce our connected culture as we
continue to build on our momentum and create sustainable value for
all our stakeholders. Each of these leaders bring exceptional
leadership, proven capabilities, and a clear focus on bringing the
best of our bank to our clients. I'm looking forward to working
with our Executive Committee and our entire team as we go
forward."
The following leadership changes are effective April 1, 2024.
Under Jon Hountalas' leadership
as Senior Executive Vice-President (SEVP) and Group Head, Canadian
Banking, our Canadian Banking business has made strong progress in
attracting new clients to our bank, enhancing client experience and
delivering growth. To further build on this momentum,
Hratch Panossian will become
SEVP and Head of Personal and Business Banking, with joint
accountability to Mr. Dodig and Mr. Hountalas, and will continue on
the bank's Executive Committee. Mr. Panossian has been a key part
of CIBC's leadership team since joining the bank in 2011, most
recently as Chief Financial Officer leading the bank's Finance,
Treasury and Enterprise Strategy and Corporate Development teams,
in addition to broad experience from the financial services and
technology sectors before joining our bank.
"Hratch's expertise in financial services, background in
technology and innovation, and commitment to building long-lasting
client and team relationships position him well to take on his new
role. His recent leadership of our strategic growth plans will also
serve him well as we continue to focus on providing our clients
with a modern and exceptional client experience," said Mr.
Dodig.
Harry Culham, SEVP and
Group Head, Capital Markets and Direct Financial Services,
continues in his current role and will take on expanded
accountability for Enterprise Strategy and Corporate Development,
as well as the bank's Strategic Client Office. Mr. Culham joined
CIBC in 2008, holding key roles in Capital Markets before assuming
its leadership, more recently adding accountability for Direct
Financial Services, as well as overseeing CIBC's operations in the
Caribbean and CIBC Mellon.
"Under Harry's leadership, our Capital Markets and Direct
Financial Services business has consistently performed well,
enabled by our team's strong focus on our clients. Harry's
leadership of our enterprise strategy and strategic client
relationships will be a tremendous asset as we continue to build on
our momentum," added Mr. Dodig.
Shawn Beber who was
appointed SEVP and Group Head, U.S. Region and President and CEO,
CIBC Bank USA, in 2022, will
continue in his current role, providing strong leadership of our
U.S. Region.
"Shawn has done an excellent job in repositioning and pivoting
our U.S. business under very challenging market conditions. The
U.S. region remains a strategically important growth area for CIBC
and Shawn's continued leadership will be critical in building
further momentum moving forward," said Mr. Dodig
Robert Sedran will assume
the role of SEVP and Chief Financial Officer and join the bank's
Executive Committee. Mr. Sedran has most recently served as CIBC's
Treasurer, and he has held progressively more senior roles over the
course of his more than 20-year career in financial services,
including previously leading Enterprise Strategy and Corporate
Development, as well as Equity Research in Capital Markets.
"Robert brings a deep understanding of the banking sector and
finance, and a strategic perspective. He has been a respected
strategic advisor over the course of his career and will be an
exceptional addition to our Executive Committee," said Mr.
Dodig.
Also continuing in their current roles on CIBC's Executive
Committee are: Frank Guse, SEVP and
Chief Risk Officer; Christina
Kramer, SEVP and Group Head, Technology, Infrastructure and
Innovation; Kikelomo Lawal,
Executive Vice-President and Chief Legal Officer; and Sandy Sharman, SEVP and Group Head, People,
Culture and Brand.
"CIBC's leadership team is a key driver of the bank's success,"
added Mr. Dodig. "These appointments serve to support the execution
of our client-focused strategy, and are another example of how
we're reinforcing our connected culture and team, leveraging and
further strengthening the capabilities of our leaders to position
our bank for the long-term."
About CIBC
CIBC is a leading North American financial institution with
14 million personal banking, business, public sector and
institutional clients. Across Personal and Business Banking,
Commercial Banking and Wealth Management, and Capital Markets and
Direct Financial Services businesses, CIBC offers a full range of
advice, solutions and services through its leading digital banking
network, and locations across Canada, in the United
States and around the world. Ongoing news releases and more
information about CIBC can be found
at https://www.cibc.com/en/about-cibc/media-centre.html.
SOURCE CIBC