CIBC Global Asset Management Inc. Announces Chief Investment Officer Appointment

TORONTO, May 17, 2013 /CNW/ - CIBC Global Asset Management Inc. (CGAM) today announced senior appointments to further strengthen its portfolio management team.

• Suzann Pennington, Managing Director, Chief Investment Officer (CIO)
• Stephen Carlin, Vice-President, Senior Portfolio Manager, Canadian Equities

Ms. Pennington will now oversee all of CGAM's portfolio management and research efforts. She will be focused on managing our investment teams and optimizing capabilities across all asset classes to deliver superior investment performance and manage risk for clients. A continued focus on talent management will also be integral to our pursuit of investment excellence. Ms. Pennington will remain head of equities and continue to manage the Canadian all-cap mandate.

Ms. Pennington has enjoyed a distinguished career that spans over 25 years. She has demonstrated strong leadership and has a long track record of delivering superior investment performance in her mandates. As CIO, she will be instrumental in generating solid results and leading investment teams as CIBC's asset management business enters a new phase of growth.

We are also very pleased to strengthen our team with the addition of Stephen Carlin. Mr. Carlin brings over 22 years of experience in equity investment management. Prior to joining CIBC, Mr. Carlin was Senior Vice-President, Head of Equities at Aegon Capital Management Inc. where he managed Canadian, balanced, income and dividend mandates.

"The success of our asset management business is driven by the quality of our investment management team," said Steve Geist, President and CEO, CIBC Global Asset Management. "These appointments further strengthen our ability to deliver superior investment results and manage risk for our clients. "We have a very strong foundation and have built positive momentum with over $80 billion in assets, strong net flows and solid performance."

Asset Management has been a key growth engine for CIBC Wealth Management and plays an important strategic role for CIBC. Its vision is to be a top global asset management firm that delivers superior investment products and results for clients.

CIBC Asset Management Inc., the asset management division of CIBC, is responsible for the CIBC and Renaissance Investments families of mutual funds, Imperial Pools, Frontiers Pools and the CIBC family of managed portfolio solutions - Axiom Portfolios, CIBC Managed Portfolio Services and CIBC Personal Portfolio Services. CIBC Asset Management manages more than $60 billion in assets.

CIBC is a leading North American financial institution with nearly 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 Canada, and has offices in the United States and around the world. You can find other news releases and information about CIBC in our Press Centre on our corporate website at www.cibc.com.

SOURCE: CIBC