CIBC announces key executive appointments, retirements

The new committee includes Geist as senior executive vice president (EVP) and group head, wealth management, in charge of its wealth management business in both Canada and the U.S.

Other committee members are David Williamson, senior EVP and group head, retail and business banking, who will assume expanded responsibility for CIBC FirstCaribbean International Bank, along with retail and business banking, and, Harry Culham and Geoff Belsher, who will both be managing directors and group co-heads, wholesale banking. Culham will continue to lead the bank’s global capital markets business and assume expanded responsibility for wholesale banking’s international business, and Belsher will continue to lead the investment banking business and will assume responsibility for CIBC’s corporate lending business globally.

The new team also includes Kevin Glass, senior EVP and CFO, Mike Capatides, senior EVP, chief administrative officer and general counsel, Laura Dottori-Attanasio, senior EVP and chief risk officer and Kevin Patterson, senior EVP technology and operations.

“The appointments we are announcing today underscore the strength of our senior leadership team talent and provide the continuity needed to build on the positive momentum we have generated over the last number of years,” said Dodig in a release. “By providing key members of the team with new or expanded mandates, we are ensuring the stability required to drive growth and enhance our client-focused agenda.”

CIBC has also created a new operating committee, which includes members of the executive committee, along with representatives from other key business functions. Operating committee members include: Stephen Forbes, EVP, brand, corporate and client relationships; Jackie Moss, EVP, strategy and corporate development; Sandy Sharman, EVP human resources; Roman Dubczak, managing director and head, equity markets; Christian Exshaw, managing director and head, capital markets trading; Monique Gravel, managing director and head of CIBC Wood Gundy; and a handful of other executives.

“The experience of this team combined with our strong foundation, strong capital base, leading retail and wholesale banking franchises, as well as our North American wealth management platform, position CIBC for continued long-term success,” said Dodig.

Retirements

Dodig also announced a couple of senior executive retirements.

Richard Nesbitt, the bank’s chief operating officer who originally planned to retire in October 2015, has advanced his departure date and is now leaving the bank. Over the last several months, Nesbitt has worked to ensure a smooth transition of his responsibilities.

Nesbitt joined CIBC in 2008 as CEO of CIBC World Markets. In 2011, he took on expanded responsibility for CIBC’s international operations and technology and operations division as well as responsibility for the bank’s strategy. In 2013, he was appointed chief operating officer.

From 2004 to 2008 he was CEO of the TSX Group having joined TSX as president of TSX Markets in 2001. Prior to joining the TSX in 2001, Nesbitt served as president and CEO of BayStreetDirect Inc. Before that he was president and CEO of HSBC Securities Canada for three years, after having worked for 10 years at CIBC Wood Gundy.

Tom Woods, senior executive vice president and vice-chairman will be retiring from CIBC effective December 31. In the interim, he will report directly to Dodig and assist with the transition of the CEO office in the coming months.

Woods has spent his entire career with CIBC. He joined Wood Gundy, the predecessor firm of CIBC World Markets, in investment banking in 1977, following which he was named head of Canadian corporate banking, CIBC’s chief financial officer (2000-2007), chief risk officer (2008-2013), and most recently serving as a vice chairman of the bank.