The PrivateBank takes CIBC name following June
acquisition
TORONTO and CHICAGO, Sept. 18,
2017 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced
today it will deliver its strong, innovative, relationship-oriented
banking under a unified brand globally, as The PrivateBank now
takes the name CIBC.
"The same team our clients have trusted at The PrivateBank is
now backed by one of the strongest banks in North America with 150 years of providing
exceptional client service," said Victor
Dodig, President and CEO, CIBC. "As we build our North
American platform, coming together under the CIBC brand sends a
clear message that our clients on both sides of the border have
even greater opportunities to help them reach their financial
goals."
The PrivateBank's 36 branch locations and commercial banking
business development offices now have the CIBC name. The
PrivateBank and Trust Company will now conduct business as CIBC
Bank USA, an indirectly, wholly
owned subsidiary of CIBC. Additionally, The PrivateBank Theatre is
now the CIBC Theatre and The PrivateBank Fire Pitch is now the CIBC
Fire Pitch.
"The PrivateBank team is excited to join our CIBC colleagues
under a name that is known for client-first focus and a commitment
to building strong, vibrant communities," said Larry D. Richman, Senior Executive
Vice-President and Group Head, CIBC U.S. Region, and President and
CEO, CIBC Bank USA. . "As one
CIBC, we will deliver more opportunities to our clients with the
power of one of North America's
strongest banks behind us."
CIBC completed its acquisition of The PrivateBank's former
parent company in June 2017. Today,
CIBC has nearly 50 U.S. offices in 18 states and provides
commercial banking, corporate banking, private wealth management
and community banking services. CIBC Capital Markets also provides
global markets products and services, investment banking and
corporate banking capabilities in the U.S.
About CIBC
CIBC is a leading Canadian-based global
financial institution with 11 million personal banking, business,
public sector and institutional clients. Across Personal and Small
Business Banking, Commercial Banking and Wealth Management, and
Capital Markets 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 www.cibc.com/ca/media-centre.
SOURCE CIBC