This morning’s agenda will include opening remarks from Gerry McCaughey, CIBC’s President and Chief Executive Officer. Kevin Glass, our Chief Financial Officer, will follow with a financial review and Tom Woods, our Chief Risk Officer will close the formal remarks with a risk management update. After the presentations, there will be a question-and-answer period that will conclude by 9.30 AM. Also with us for the question-and-answer period are CIBC’s business leaders, Victor Dodig, Richard Nesbitt and David Williamson, as well as other senior officers.

Before we begin let me remind you that any individual speaking on behalf of CIBC on today’s call, may make forward-looking statements that are subject to a variety of risks and uncertainties. These statements may include material factors or assumptions that could cause CIBC’s actual results in future periods to differ materially. For more information, please refer to the note about our forward-looking statements in today’s press release. With that, let me now turn the meeting over to Gerry.

Gerald McCaughey

Thank you, Geoff and good morning everyone. Before I begin, I will also remind you that my comments may contain forward-looking statements. CIBC produced strong results in Q3. We reported net income for the quarter of $841 million and earnings per share of $2. Return on equity for the quarter was 21.8%. Adjusting for items of note, earnings were $2.06. Our capital ratios are strong. We finished the quarter with the Basel III pro forma common equity ratio estimated at 8.9% and a Basel II tier one ratio of 14.1%.

We continue to make progress on our strategy, which has three underlying elements. Our first principle is to be a lower risk bank. We remain focused on delivering consistent and sustainable earnings and we have a strategic plan to deliver managed growth for CIBC. This growth plan is grounded in four main work streams. First we will strengthen our core Canadian Retail and Business Banking franchise with a particular focus on deeper client relationships. Second, we will grow our Wealth Management platform in Canada and internationally, particularly in the United States. This involves limited M&A activity such as our investment in American Century last year and our recent acquisition of McLean Budden’s Canadian Private Wealth business. Third we will grow our client based Wholesale Banking business in targeted industries within our defined risk appetite. These will involve crossing borders in four key areas of expertise, oil and gas, mining, real estate finance and infrastructure. Today’s announcement regarding our acquisition of Griffis & Small, which I’ll touch on shortly is an example of supporting this strategy. And fourth, we will strengthen our offshore Caribbean Banking business.

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