June 11, 2013
, President and CEO of
(TSX: CM) (NYSE: CM), today announced that
has been named Chief Operating Officer, CIBC, effective immediately. Mr. Nesbitt's organizational responsibilities remain unchanged.
"This title is in recognition of the leadership role Richard has been playing at CIBC over the past two years and the increased responsibilities he was given during that time," said Mr. McCaughey. "Richard is a key member of my management team and I look forward to continuing to work together with him to execute CIBC's strategy over the coming years."
Mr. Nesbitt previously held the title of Senior Executive Vice-President, CIBC, and Group Head, Wholesale, International, and Technology and Operations. In this role, Richard will maintain his current responsibilities for the operations of Wholesale Banking, Technology and Operations, Strategy and Corporate Development, CIBC's International Operations and Treasury.
Mr. Nesbitt joined CIBC in 2008 following more than 20 years of experience in the securities industry.
Mr. Nesbitt, along with CIBC's other members of the Senior Executive Team, will continue to report to Mr. McCaughey, including:
, Chief Administrative Officer and General Counsel;
, Group Head, Wealth Management;
, Chief Risk Officer;
, Chief Financial Officer; Honourable Jim Prentice, Vice-Chairman;
, Group Head, Retail and Business Banking; and
CIBC is a leading North American financial institution with more than 11 million personal banking and business clients. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across
, and has offices in
the United States
and around the world. You can find other news releases and information about CIBC in our Media Centre on our corporate website at