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.
CIBC President and CEO Victor Dodig has announced key executive appointments.
Canadian Imperial Bank of Commerce would consider spending as much as US$1.8 billion) on wealth-management takeovers, incoming Chief Executive Officer Victor Dodig said, setting a new ceiling for acquisitions by the country’s fifth-biggest bank.
Canadian Imperial Bank of Commerce, known for infighting when picking its leader, is considering breaking a century of banking tradition by looking for an outsider instead. Shareholders are wary of the uncertainty.