CIBC made senior leadership changes within its group executive leadership team. These changes will position the bank to further leverage its client-focused team and North American platform to accelerate execution.
“Across each of our businesses in Canada, the U.S. and globally, the disciplined execution of our strategy and a deep commitment to our clients have driven strong business results across our bank,” Harry Culham, president and CEO of CIBC, said. “The changes we are announcing today are focused on accelerating our progress as a client-focused, connected and performance-driven bank that creates value for all our stakeholders.”
Susan Rimmer has been appointed senior executive vice-president and group head, commercial banking, as she continues to lead commercial banking in Canada, and also assumes accountability for commercial banking in the U.S., as well as the office of the CEO (OCEO).
“Susan is recognized for her client-focused approach,” Culham said. “Commercial enterprises are at the heart of economic growth, and we’re committed to building on our legacy as the bank of commerce to help these businesses thrive. Bringing together our commercial banking business on both sides of the border will further our ability to provide our clients with the solutions, insights and advice they need to succeed.”
Eric Belanger has been appointed senior executive vice-president and group head, wealth management, as he assumes accountability for wealth management in Canada and the U.S., including global asset management, U.S. private wealth, Wood Gundy, private banking and family office, Investor’s Edge and CIBC Private Investment Counsel.
“Eric has spent more than 30 years with our bank in a range of leadership roles and has a strong track record of building innovative solutions, deepening client relationships and delivering growth,” Culham said. “Aligning our North American Wealth businesses will strengthen connectivity and collaboration as we bring the best of our bank to clients, and support continued growth in Canada and the U.S.”
Kevin Li will continue in his role as senior executive vice-president and group head, U.S. region, and president and CEO, CIBC Bank USA.
“Kevin will continue in his current role overseeing our U.S. Region as we leverage our connectivity across businesses to deepen and expand client relationships,” Culham said. “Kevin’s exceptional client-focus, relationships across the U.S., Canada and Europe, and his disciplined execution will be invaluable as we further scale our growth in the U.S. across commercial banking, capital markets and wealth management.”
CIBC will have four business segments for financial reporting purposes (in addition to corporate and other): Canadian personal and business banking, commercial banking, wealth management and capital markets.
Christina Kramer, senior executive vice-president and chief administrative officer (CAO), will transition to the role of special advisor and leave the bank on Oct. 31. Kramer dedicated her 40-year career to our bank, making significant contributions in leadership roles across human resources, personal and business banking, technology, operations and, most recently, as CAO.
“Across both business and infrastructure leadership roles, Christina has consistently put our clients at the center of our efforts, and has led key teams across our bank with a collaborative approach to executing on our strategy,” Culham said. “In each of her leadership roles, she has set a high standard for operating with excellence and reflecting our purpose-led, genuinely caring culture. We are a stronger bank today thanks to her contributions.”
Amy South has been appointed senior executive vice-president, CAO and chief of staff, and will maintain oversight of CIBC Mellon. She will have accountability for business enablement and governance; brand, community, client experience; communications; corporate security; enterprise real estate; infrastructure and modernization; procurement and enterprise projects; and global government relations.
“Amy brings deep experience across client-facing, CAO and finance roles at our bank,” Culham said. “Her breadth of experience and enterprise perspective will be invaluable as she and her team help to accelerate the execution of our strategy.”
In addition, the following leaders continue in their current roles and take on additional accountabilities:
- Richard Jardim, senior executive vice-president, chief technology and information officer, global technology, data and AI, will add responsibility for the chief security office.
- Robert Sedran, senior executive vice-president, chief financial officer and enterprise strategy, will gain oversight for enterprise transformation.
- Stephen Scholtz, executive vice-president and global chief legal officer, will expand his mandate to include corporate governance and sustainability.
The following leaders continue in their current roles as part of CIBC’s group executive leadership team:
- Yvonne Dimitroff, executive vice-president, chief human resources officer, people, culture and talent
- Christian Exshaw, senior executive vice-president and group head, capital markets
- Frank Guse, senior executive vice-president and chief risk officer
- Hratch Panossian, senior executive vice-president and group head, personal and business banking
