TORONTO, Oct. 4, 2022
/CNW/ - CIBC (TSX: CM) (NYSE: CM) President and CEO
Victor Dodig today announced senior
leadership appointments to further the bank's client-focused
strategy.
"We have built a modern, relationship-oriented bank that is
positioned to further our momentum through the execution of our
client-focused strategy," said Mr. Dodig. "Our highly connected and
purpose-led team has been a key driver of our success, and the
leadership changes we are announcing today will position our bank
well to further our momentum and deliver relative outperformance.
Each of these leaders have built deep industry expertise and strong
leadership and exemplify our purpose-led culture."
The following leadership changes are effective November 1, 2022:
Mike Capatides, Senior
Executive Vice-President and Group Head, US Region, and President
& CEO, CIBC Bank USA, will be
transitioning to the role of Vice-Chair, CIBC Bank USA, focused on developing and deepening
client relationships. Mr. Capatides has been an important part of
our bank for more than 25 years, including as CAO and General
Counsel and his oversight of CIBC FirstCaribbean International
Bank, as well as Strategy and Corporate Development. "Under Mike's
leadership, we have expanded our US business and built a strong
North American platform for growth, and he has been a trusted
advisor and we look forward to his continued involvement with our
clients moving forward," said Mr. Dodig.
Shawn Beber will assume
the role of Senior Executive Vice-President and Group Head, US
Region, and President & CEO, CIBC Bank USA, and our US bank holding company. Mr.
Beber will be based in Chicago
where he will continue our efforts to build a strong and growing
cross-border platform for clients. He most recently served as Chief
Risk Officer, and previously held senior roles with CIBC including
General Counsel, head of Strategy and Corporate Development, and
head of U.S. Capital Markets. Mr. Beber was also instrumental in
the acquisition of The PrivateBank in 2017 and played a lead role
in the integration to build the growth platform we have today.
"Shawn brings deep understanding of our bank, proven execution
experience on both sides of the border, and a strong client and
relationship focus which will be key as we continue building on our
momentum in serving the private economy in North America," said Mr. Dodig.
Frank Guse will take
on the role of Senior Executive Vice-President and Chief Risk
Officer and join CIBC's Executive Committee. Mr. Guse has deep
experience in both risk and business roles. Most recently he served
as Executive Vice-President, Strategy & Transformation,
Personal and Business Banking. He previously led key risk
management functions including Risk Analytics, Reporting, and
Credit Decisioning. Prior to joining CIBC, he gained global
experience with McKinsey & Company in Germany where he focused on risk management.
"Frank's global expertise in all facets of risk management, coupled
with his experience delivering transformative initiatives and
strategic perspective, position him well for his new role and will
make him an excellent addition to our Executive Committee," added
Mr. Dodig.
Continuing in their current roles on CIBC's Executive Committee
are: Harry Culham, Laura Dottori-Attanasio, Jon Hountalas, Christina
Kramer, Kikelomo Lawal,
Hratch Panossian and Sandy Sharman.
About CIBC
CIBC is a leading North American financial institution with 13
million personal banking, business, public sector and institutional
clients. Across Personal and 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.
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SOURCE CIBC