Print this article

Change At The Top Of Large Canadian Bank; New Wealth Head Named

Eliane Chavagnon

16 September 2014

CIBC's new president and chief executive, Victor Dodig, has unveiled a new executive leadership structure, including a newly-formed executive committee. Dodig yesterday took over from Gerry McCaughey, who has retired from the New York- and Canada-listed firm.

Meanwhile, CIBC's chief operating officer, Richard Nesbitt - who originally planned to retire in October 2015 - has advanced his departure date and is now leaving the bank. The firm confirmed that the COO role is not being replaced; key responsibilities are instead being assigned to other senior executives.

Additionally, senior executive vice president and vice chairman, Tom Woods, is retiring on December 31, 2014. Woods worked across investment banking, corporate banking, finance and risk management. In the interim, he will report to Dodig and assist with the transition of the CEO office.

CIBC's new executive leadership team is as follows:

New operating committee

The CIBC leadership group will also include a new operating committee, including members of the executive committee and other business functions at CIBC:

Additional members of the operating committee include: