CIBC making changes to senior executive ranks at the bank

TORONTO — CIBC is making changes to its senior executive ranks in a move chief executive Victor Dodig says will broaden the opportunities for a number of the bank's leaders.

The bank says Jon Hountalas, senior executive vice-president and group head of Canadian banking, is moving to the role of vice-chair, North American banking, covering retail, commercial banking and wealth management as part of the changes that are effective Nov. 1.

CIBC also says Susan Rimmer will be promoted to senior executive vice-president and group head, commercial banking and wealth management. She is currently managing director and head, global corporate and investment banking.

Harry Culham will become senior executive vice-president and group head, capital markets, global asset management and enterprise strategy, adding responsibility for CIBC Global Asset Management to his current responsibilities.

Christian Exshaw will become deputy head, CIBC Capital Markets, adding responsibility for corporate and investment banking.

Hratch Panossian, senior executive vice-president and group head, personal and business banking, will add responsibility for Simplii Financial, while Shawn Beber, senior executive vice-president and group head, U.S. region, and president and CEO, CIBC Bank USA, will add responsibility for CIBC Cleary Gull, CIBC's mid-market investment firm.

This report by The Canadian Press was first published Sept. 5, 2024.

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