CIBC expands executive roles to unify North American units
Canadian Imperial Bank of Commerce expanded the roles of several top executives to better integrate its Canadian and U.S. operations. The lender also announced the sale of its Caribbean stake for 1.6 billion dollars and reported a second-quarter profit that exceeded analyst expectations.
Canadian Imperial Bank of Commerce expanded executive responsibilities on May 28 to unify its North American operations. The move follows the $1.6 billion sale of a 91.7% stake in CIBC Caribbean to Bank of N.T. Butterfield & Son. CIBC is redirecting capital toward growth priorities across Canada and the United States.
### Unifying North American Leadership CIBC named Susan Rimmer as senior executive vice-president and group head of commercial banking. Rimmer previously led Canadian commercial banking and will now oversee both Canadian and U.S. operations.
