Each week, Investment Executive summarizes notable shifts across the financial and wealth management industry.

  • At Canadian Imperial Bank of Commerce (CIBC), Mike Capatides has been named vice-chair of CIBC Bank USA, effective Nov. 1. His current role is senior executive vice-president and group head, U.S. region, and president and CEO, CIBC Bank USA, and he’s been working at the bank for more than 25 years, according to a release. Replacing Capatides will be Shawn Beber, who will work out of Chicago, Ill., and also oversee CIBC’s U.S. bank holding company. Beber most recently served as chief risk officer and “was also instrumental in the acquisition of The PrivateBank in [June] 2017,” the release said. Frank Guse will assume the role of senior executive vice-president and chief risk officer, joining CIBC’s executive committee. Guse has worked at the bank since 2014, most recently filling the role of executive vice-president, strategy and transformation, personal and business banking. In the release, CIBC president and CEO Victor Dodig noted that the shifts were made “to further the bank’s client-focused strategy.”
  • Salman Ahmed and Harvey Naglie are new members of FAIR Canada’s board of directors. Ahmed is chief investment officer with Vancouver-based Steadyhand Investment Management Inc., and is currently vice-president of CFA Society Vancouver, where he also sits on the board. Naglie worked in the financial sector for decades, including 10 years with the Ontario government’s financial services policy branch, and he’s currently a member the Financial Services Regulatory Authority of Ontario’s consumer advisory panel.
  • Zak Goldman, Jonah Mayles and Brett Okorofsky have joined Gluskin Sheff Financial Services Inc. (GSFS; the private wealth management platform of Toronto-based Onex Corporation) from Canadian insurance advisory firm Sterling Park Financial Group (also Toronto-based). The trio of insurance specialists have worked together since 2018 and, according to a release, have partnered with Gluskin Sheff to offer insurance services in the past. The team, which the release said have experience with tax and estate planning, will help serve high-net-worth and ultra-high-net-worth clients. Each of the three is vice-president, insurance and estate planning specialist with GSFS, with Goldman having the longest tenure on the team, at more than 20 years.
  • Robin Ayoung has joined Raymond James Ltd. as senior vice-president and head of human resources. He previously worked at Royal Bank of Canada, most recently leading the Caribbean banking HR team.

If you know of other people moves in the financial industry and/or would like us to consider your announcement, email Katie Keir at katie@newcom.ca.