People News: CIBC, Goldman Sachs

Canadian Imperial Bank of Commerce has made two key executive changes within its wholesale banking business as Canada's fifth biggest bank further consolidates under Chief Executive Victor Dodig.

Reuters reports that Dodig, who took over as CEO a year ago, has made several management shuffles in that time as he looks to address CIBC's competitive challenges in the domestic market.

In the meantime, Bloomberg News reports that Christopher Cole, co-chairman of Goldman Sachs’ investment-banking division, is retiring from the firm after 30 years.

Cole, who served as lead banker on Goldman Sachs’s initial public offering in 1999, will become a senior director of the company, according to an internal memo released Tuesday. Cole, 56, was previously co-head of the investment-banking division and led the financial institutions group.

CIBC makes executive changes in wholesale banking team

Goldman Investment Bank Co-Chairman Cole to Retire From Firm

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