Mr. Jon Hountalas reports

CIBC INNOVATION BANKING ANNOUNCES LEADERSHIP CHANGES

Mark Usher has been appointed senior vice-president of innovation banking, president and executive managing director of Canadian Imperial Bank of Commerce's CIBC Innovation Banking, effective Feb. 28, 2023, taking on the role currently held by Mark McQueen who is departing to start the next chapter in his career.

Under Mr. McQueen's leadership, CIBC Innovation Banking has become a leading financial services provider to entrepreneurs and investors in the North American innovation economy. Building CIBC Innovation Banking from the ground up to 14 offices globally today, Mr. McQueen and his team have been instrumental in helping execute on the bank's client-focused strategy and positioning this business well for the future.

"Mark's deep passion for his work leaves an indelible mark on the many clients he has helped to achieve their ambitions," said Jon Hountalas, group head, Canadian banking. "We wish him all the best as he takes on new adventures."

Mr. Usher joined CIBC with the acquisition of Wellington Financial in 2018 where he has served as a key member of the leadership team and has been pivotal in building the innovation banking business. He brings more than 25 years of financial services and innovation economy experience to this role, including deep relationships with many of CIBC's existing clients and industry stakeholders.

"Mark has a proven track record and has established himself as a dedicated and client-focused leader who is well positioned to continue to build our business in the innovation ecosystem on both sides of the border," added Mr. Hountalas.

"I look forward to working with our team to help our clients achieve their ambitions in the innovation ecosystem," said Mr. Usher. "We're proud of the relationships we've built together in the five years since CIBC and Wellington Financial came together and our entire team is committed to delivering for our clients as we move forward."

About Canadian Imperial Bank of Commerce

CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the United Kingdom and select European countries at each stage of their business cycle, from start up to IPO (initial public offering) and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC's commercial banking, private banking, wealth management and capital markets businesses.