CIBC wins appeal against former employee Bockhold
2026-02-20 19:53 ET - Street Wire
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"CIBC said that it lent Mr. Bockhold $1-million, with the terms of the loan requiring that he repay it when he left the firm"
A loan of one million CAD in 2018 would be $1,238,700 in today's currency and one might presume that he must have been either a very hot prospective employee or a deep-pocket individual for CIBC to grant him a loan, but it seems that there is a bit more history involved.
"A former rep has been ordered to repay the balance of a $1-million interest-free loan he received upon joining CIBC Wood Gundy, after a court rejected his rationale for refusing to pay under a settlement with the firm.
According to a decision from the Supreme Court of British Columbia, Murray Bockhold received the loan in 2013 when he joined Wood Gundy. When the firm terminated him in 2018, he still owed about $600,000. The firm sued to recover the outstanding amount.
https://www.investmentexecutive.com/news/from-the-regulators/ex-rep-ordered-to-repay-brokerage-loan/"
Posted by halcrow at 2026-02-20 21:58