CIBC World Markets has reorganized its investment, corporate and merchant banking activities, formerly managed as one unit, into three distinct lines of business, the company confirmed on Tuesday.

The change will see former Lehman Bros. executive Geoff Belsher join the bank as managing director and global head of investment banking.

In addition, former National Bank Financial Group executive Laura Dottori-Attanasio will become managing director and global head of the corporate credit products team.

David Leith, CIBC World Markets’ deputy chairman and head of investment, corporate and merchant banking under the existing corporate organization, has elected to leave the firm. Leith worked at CIBC World Markets for more than 25 years.

The merchant banking group in Canada will continue to be led by Paul Farrell, and in the United States, by Mark Hastings.

The new organizational structure and appointments are effective Jan. 19.

“These strategic changes will allow us to further enhance and broaden our client focus and take advantage of market opportunities resulting from changes in the global credit markets,” said Richard Nesbitt, chairman and CEO of CIBC World Markets, in an internal announcement to CIBC employees.

Nesbitt added that he sees particular opportunity for the bank to expand its lending business amid “a fundamental change occurring in industry credit conditions.”

The bank will introduce new corporate credit products to serve investment banking and capital markets clients, Nesbitt said.

In leading the credit corporate credit products team, Dottori-Attanasio will report to Nesbitt. She worked for National Bank Financial Group for 18 years, where she was most recently chief risk officer.

Dottori-Attanasio holds a bachelor’s degree in finance and economics from the University of Western Ontario.

As head of the investment banking division, Belsher will also report to Nesbitt. Most recently, Belsher was managing director and country head of Lehman Brothers Canada Inc., where he was responsible for investment banking and M&A operations in Canada.

He also held several executive positions at BMO Capital Markets.

Belsher is also a lawyer and a graduate of the Osgoode Hall Law School at York University and the University of Toronto.

The changes are part of CIBC’s transition from the “rebuilding mode” of the past year, to a focus on growth and implementation, according to Nesbitt.

IE