Moves: CIBC expands executive roles to unify North American operations

Canadian Imperial Bank of Commerce

28/05/2026 13:31

    May 28 (Reuters) - Canadian Imperial Bank of Commerce CM.TO on Thursday expanded the responsibilities of several top executives as it tries to bring its Canadian and U.S. businesses closer together.

    The announcements came after CIBC said it would sell a 91.7% stake in CIBC Caribbean to Bermuda-based Butterfield for about $1.6 billion, as it looks to redirect capital toward growth priorities in North America.
  

Here are some more details:

        The bank named Susan Rimmer, head of Canadian commercial banking, as senior executive vice-president and group head of commercial banking, expanding her role to oversee the segment's Canadian and U.S. operations.
Eric Belanger was appointed senior executive vice-president and group head of wealth management, with oversight of the business across Canada and the U.S., including the bank's global asset management and private banking units. 

        CIBC said senior executive vice-president Christina Kramer will transition to a special advisor role before leaving on October 31.

        The bank appointed Amy South as senior executive vice-president, chief administrative officer and chief of staff, adding that she will also retain oversight of CIBC Mellon.

        The lender reported a 
        second-quarter profit
         on Thursday, topping analysts' expectations on strong performance in its capital markets business.
      

 (Reporting by Pragyan Kalita in Bengaluru; Editing by Diti Pujara)
 ((Pragyan.Kalita@thomsonreuters.com;))