CIBC announces new head of wealth amid other executive changes

“At a time when we are positioning our bank to embed a client-first culture into our DNA, execute our strategy and deliver growth for our shareholders,” says Victor Dodig, president and CEO of CIBC in a statement announcing the changes. “These changes are a natural next step that will build on the clear momentum we have established and provide opportunities to develop our next generation of senior leaders.”

Hountalas, as senior executive vice president and group head of commercial banking and wealth management, Canada, will assume responsibility for CIBC Wood Gundy, CIBC Asset Management and CIBC Private Wealth Management. He will also continue to lead the bank’s commercial banking business.

Hountalas joined CIBC in 2010 as executive vice president of business banking and added responsibility for the bank’s corporate banking business in 2015. Prior to joining CIBC, he had worked at HSBC Bank Canada for more than 25 years in a variety of executive roles.

Geist had served as head of wealth at CIBC since September 2014. Prior to that, he was president and CEO of the bank’s asset-management arm. Geist joined CIBC in 2006 after serving as the head of TD Mutual Funds at Toronto-Dominion Bank.

Hountalas will report to Dodig, and will also join the bank’s executive committee.

In addition to Hountalas’ appointment, CIBC also announced the following other senior executive vice presidents and leaders of its strategic banking units:

> Christina Kramer has been named group head, personal and small business banking, for Canada. She will be accountable for the retail distribution, CIBC Imperial Service, small business, mobile advice and CIBC Investor’s Edge teams as well as all personal and small business banking products.

Kramer will replace David Williamson, head of retail and business banking, who will be leaving CIBC in the spring of 2018. In the interim, Williamson will act as a strategic advisor to the CEO and the client connectivity and innovation team.

> Larry Richman has been named group head of the U.S. region, and president and CEO of PrivateBank upon completion of the acquisition of PrivateBancorp Inc., which is anticipated on June 23. CIBC said that this structure creates an alignment between the bank’s U.S. and Canadian businesses and will benefit clients looking to leverage cross-border opportunities.

> Harry Culham will continue as group head of capital markets, with global responsibility for global markets, investment banking and assumes responsibility for corporate banking.

CIBC also announced the leaders of its functional teams:

> Deepak Khandelwal will join CIBC in August as group head, client connectivity and innovation and lead the bank’s client focus and innovation agenda. He will be accountable for digital, data, client experience, payments, marketing, contact centres and President’s Choice Financial. Khandelwal’s previous experience includes roles at Rogers Communications Inc., Google Inc. and McKinsey & Co.

> Mike Capatides continues as chief administrative officer and general counsel and assumes accountability for CIBC FirstCaribbean International Bank.

> Sandy Sharman expands her current human resources accountabilities to include corporate communications and public affairs, and has been named chief human resources and communications officer.

> Laura Dottori-Attanasio, chief risk officer; Kevin Glass, chief finance officer; and Kevin Patterson, group head, technology and operations; will continue in their roles.

In addition, Brian Lee continues as senior vice president and chief auditor, and an observer on CIBC’s operating committee, the bank announced.

Photo copyright: jirsak