Canadian Imperial Bank of Commerce
TSX:CM

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Canadian Imperial Bank of Commerce
TSX:CM
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Price: 88.58 CAD -1.13%
Market Cap: 83B CAD

Canadian Imperial Bank of Commerce
Investor Relations

In the bustling financial landscape of Canada, the Canadian Imperial Bank of Commerce (CIBC) stands as a cornerstone, intertwining its rich history with modern-day financial innovation. Founded in 1867, CIBC arose from the amalgamation of two early Canadian banks, embedding a legacy of resilience and adaptability. This storied institution operates primarily through its core business segments: Personal and Business Banking, Commercial Banking, and Wealth Management. Each arm of the bank addresses distinct facets of economic life, ensuring that it covers the financial needs of its customers from personal savings and loans to comprehensive investment strategies. Through a myriad of services, CIBC earns its revenue by facilitating an array of financial transactions, charging interest on credit, and managing assets.

CIBC's repertoire extends beyond the Canadian border, reflecting a growing focus on international expansion, particularly in the United States. By acquiring business interests and expanding its footprint, CIBC taps into broader markets, aiming to enhance growth and diversify its revenue streams. Moreover, its investment in digital technology drives efficiency and improves customer experience, aligning with contemporary demands for seamless online banking. While traditional banking involves interest earned from loan products and fees generated from client transactions, CIBC also manages to extract value from wealth management services, where advisory fees are charged for financial planning and investment management. Thus, CIBC thrives not just by leveraging its historic presence in Canada but by embracing technological advancement and geographic diversification, crafting a multifaceted business model that secures its place in the fabric of global banking.

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CM
S&P TSX Composite Index (Canada)

Earnings Calls

2024 Q4
Dec 5, 2024
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CIBC delivers consistent growth and strong financial performance heading into 2025.
2024 Q4
Dec 5, 2024

In fiscal 2024, CIBC reported net earnings of $7.3 billion, with a 10% increase in revenue to $25.6 billion. The bank's robust capital position supported an 8% dividend increase and a share buyback of 5 million shares. Looking forward, CIBC expects revenue growth between 7% and 10% driven by enhanced loan margin and solid operating leverage. Key strategies focus on expanding digital offerings and wealth management, aiming for a return on equity (ROE) of over 15%. Overall, CIBC anticipates continued client demand and improved performance across its business segments as economic conditions stabilize.

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Management

Mr. Victor G. Dodig
President, CEO & Director

Victor G. Dodig is the President and Chief Executive Officer of the Canadian Imperial Bank of Commerce (CIBC). He assumed this role in September 2014, bringing with him a wealth of experience in the financial industry. Under his leadership, CIBC has focused on building a client-first culture and expanding the bank’s reach into key North American markets. Dodig joined CIBC in 2005 and has held several senior executive positions within the bank, including Group Head of Wealth Management and Group Head of Retail and Business Banking. His career prior to CIBC involved roles at UBS Global Asset Management, Merrill Lynch, and the Balkan Security. He holds an MBA from Harvard Business School, where he was a Baker Scholar, and a Bachelor of Commerce from the University of Toronto. Additionally, Dodig completed the Institute of Corporate Directors program at the Rotman School of Management. Throughout his career, Dodig has been committed to championing diversity and inclusion within the workplace and has been recognized for his efforts in promoting gender equality. Beyond banking, he is actively involved in community service and various philanthropic initiatives. His leadership and visionary approach have positioned CIBC as a prominent player in the competitive banking landscape.

Mr. Harry K. Culham
Senior EVP and Group Head, Capital Markets, Global Asset Management & Enterprise Strategy

Harry K. Culham is a notable figure in the banking industry, particularly known for his role at the Canadian Imperial Bank of Commerce (CIBC). He has served as a senior executive at CIBC and has played a significant part in the bank's operations and strategic directions. Culham joined CIBC in 2008 and has held various leadership positions, contributing to the bank's capital markets and broader wholesale banking strategies. He is recognized for his expertise in global markets and his role in enhancing CIBC's competitive position in the financial sector. His leadership has been instrumental in driving growth and fostering innovation at the bank.

Mr. Jon Hountalas
Vice Chair of North American Banking, covering Retail, Commercial Banking, & Wealth Management

Jon Hountalas is a senior executive at the Canadian Imperial Bank of Commerce (CIBC). He serves as Senior Executive Vice-President and Group Head of Personal and Business Banking for Canada. In this role, he oversees CIBC's personal and business banking operations within the country, focusing on enhancing client experiences and driving growth in these areas. Over his career with CIBC, Hountalas has been influential in strategic planning and execution, leveraging his wealth of knowledge in banking and financial services. His commitment to innovation and client satisfaction has significantly contributed to CIBC's success in the Canadian banking industry. Prior to his current role, he held several key leadership positions, further honing his expertise and leadership capabilities.

Mr. Hratch Panossian
Senior EVP and Group Head of Personal & Business Banking

Hratch Panossian is a seasoned executive with a wealth of experience in the banking and finance industry. He serves as the Executive Vice-President and Chief Financial Officer (CFO) at the Canadian Imperial Bank of Commerce (CIBC). In his role, Panossian is responsible for overseeing CIBC's financial strategy, financial governance, and reporting. He plays a key role in the bank's overall strategic direction and risk management. Before becoming CFO, Panossian held various leadership positions within CIBC and other financial institutions. His background includes expertise in finance, risk management, and strategic planning, which have been instrumental in guiding CIBC's financial operations. Panossian is recognized for his leadership skills, focus on delivering shareholder value, and commitment to the bank's long-term growth. He is also known for his strategic approach to financial management and his ability to drive performance improvements across the organization. Panossian's work ensures that CIBC remains financially robust and well-positioned within the competitive banking landscape.

Mr. Shawn Beber
Senior EVP & Group Head of US Region

Shawn Beber is a notable figure at the Canadian Imperial Bank of Commerce (CIBC), serving as the Senior Executive Vice President and Chief Risk Officer. In this capacity, he plays a pivotal role in managing the bank's risk profile and strengthening its risk management practices. His responsibilities include overseeing and ensuring the effective management of credit, market, and operational risks across CIBC. Shawn Beber joined CIBC in 2002, bringing with him valuable experience and expertise in legal and strategic matters. Over the years, he has held various significant positions within the organization, which have included roles in corporate development, strategy, and leadership in legal affairs. His extensive experience in these areas has provided him with a robust foundation for his responsibilities in managing the bank's risk dimensions. Shawn holds an LL.B. from the University of Toronto and a Bachelor’s degree in Economics from Harvard University, underpinning his strong analytical and strategic capabilities. His leadership continues to contribute to the bank’s stability and overall success in navigating complex financial landscapes.

Mr. Robert Sedran C.F.A.
Senior EVP & CFO

Robert Sedran is a notable figure in the Canadian banking industry as he serves as the Executive Vice-President and Chief Executive Officer at CIBC Asset Management, which is a branch of the Canadian Imperial Bank of Commerce (CIBC). Sedran has extensive expertise in the financial sector, particularly in asset management and investment strategies. Before joining CIBC, Sedran developed a solid foundation in financial analysis and strategy, holding prominent positions in notable financial institutions. His education and professional designations, such as being a Chartered Financial Analyst (CFA), underscore his expertise in the field. As a key executive at CIBC Asset Management, Sedran is responsible for overseeing the strategic direction of the asset management division, aiming to provide comprehensive investment solutions and drive growth in asset management services for the bank's clients. His role involves leading a team of professionals dedicated to developing innovative investment strategies and ensuring a high standard of service for clients. Throughout his career, Sedran has been recognized for his analytical skills and leadership qualities, which have greatly contributed to CIBC's standing in the competitive financial services industry.

Ms. Christina C. Kramer
Senior EVP and Group Head of Technology, Infrastructure & Innovation

Christina C. Kramer is a senior executive at the Canadian Imperial Bank of Commerce (CIBC). She has held various leadership roles within the organization, focusing on delivering superior client experiences and driving strategic business growth. Her career at CIBC spans several decades, during which she has garnered extensive experience in banking operations and management. Kramer has been recognized for her forward-thinking approach and her ability to adapt to the evolving financial services landscape. She has overseen different facets of the bank's operations, including retail and business banking, and has often been involved in initiatives aimed at enhancing digital capabilities and customer engagement. In her leadership roles, Kramer has been pivotal in spearheading transformation initiatives that align with technological advancements and changing customer expectations. Her contributions to the bank have reinforced CIBC's commitment to innovation and excellence in service delivery. Outside of her professional achievements, Christina Kramer is also known for her involvement in community and charitable activities, advocating for diversity and inclusion within the workplace. Her leadership style is often described as inclusive and visionary, making her a respected figure within the industry.

Ms. Kikelomo Lawal
Executive VP & Chief Legal Officer

Kikelomo Lawal is a prominent executive at the Canadian Imperial Bank of Commerce (CIBC), serving as the Executive Vice-President and Chief Legal Officer. In her role, she oversees the bank's legal affairs, providing strategic direction and guidance on a wide range of legal matters. Her responsibilities include managing legal risk, supporting business operations, and ensuring compliance with regulations. Kikelomo holds a law degree from Harvard Law School and a Bachelor of Arts from the University of Toronto. Before joining CIBC, she had a distinguished career in the legal profession, working with various reputable organizations, enhancing her expertise in corporate law, governance, and risk management. Her leadership at CIBC is characterized by a commitment to upholding the bank’s reputation and supporting its strategic objectives through expert legal counsel. Kikelomo Lawal is also involved in several initiatives aimed at promoting diversity and inclusion, reflecting her dedication to fostering an inclusive workplace culture.

Ms. Sandra R. Sharman
Senior EVP and Group Head of People, Culture & Brand

Sandra R. Sharman is an accomplished executive at the Canadian Imperial Bank of Commerce (CIBC). Serving as the Senior Executive Vice-President and Group Head of People, Culture, and Brand, she plays a pivotal role in shaping the bank’s human resources strategies and brand development. Sharman is responsible for leading CIBC’s efforts to foster an inclusive, innovative, and high-performance culture. Her leadership is instrumental in driving the bank’s employee engagement and development initiatives, ensuring alignment with the bank’s overall business objectives. Sharman's extensive experience in the financial sector and her commitment to fostering a strong, values-driven corporate culture have been crucial in supporting the bank’s growth and success.

Mr. Michael G. Capatides
Vice-Chair of CIBC Bank USA

Michael G. Capatides is a prominent figure associated with the Canadian Imperial Bank of Commerce (CIBC). He has served in multiple key roles within the bank, contributing significantly to its operations and strategic direction. Michael G. Capatides is known for his extensive experience in the banking and financial services industry, particularly in legal and risk management areas. Capatides served as the Senior Executive Vice President and Chief Administrative Officer, and General Counsel at CIBC, overseeing critical administrative functions and ensuring the bank's adherence to legal and regulatory requirements. Throughout his tenure, he has played a vital role in advancing the bank's governance framework and driving its compliance and risk management agenda forward. His leadership has been instrumental in navigating complex legal challenges and fostering a strong culture of integrity and accountability within the organization. With his deep expertise and strategic vision, Michael G. Capatides has been a key contributor to maintaining CIBC's reputation and positioning it for long-term success in the competitive banking industry.

Contacts

Address
ONTARIO
TORONTO
81 BAY STREET, CIBC SQUARE, PO Box 770
Contacts
+14169803096.0
www.cibc.com