CIBC promoted Brandon Barr to asset-based lending group head. In this new role, Barr will be responsible for providing strategic guidance on portfolio-related matters and evaluating new business segments, in addition to managing the national business efforts for the ABL team.

Barr, who joined CIBC in 2011, previously served as head of business development and strategy for the bank’s ABL Group.

“Brandon’s deep understanding of the industry and his proven track record of success make him the ideal candidate to lead our ABL team,” Bruce Hague, executive managing director and co-president of commercial banking at CIBC Bank USA, said. “We are confident that under Brandon’s leadership, we will further strengthen our position as a leader in asset-based lending, and continue to support the ambitions and success of our clients.”

In this new role, Barr will continue to build on the foundation established by Bruce Denby, whom Barr will continue to report to, and Bob Corsentino. Corsentino is transitioning to a new part-time role as the senior director and credit risk advisor for CIBC’s U.S. Commercial Banking and ABL teams. In this capacity, he will provide insights and guidance in credit risk management, reporting to Bruce Hague.