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Canadian Imperial Bank of Commerce (CIBC)
Symbol CM
Shares Issued 904,884,760
Close 2022-10-04 C$ 62.28
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CIBC appoints Capatides as vice-chair of CIBC Bank USA

2022-10-04 13:08 ET - News Release

Mr. Victor Dodig reports

CIBC ANNOUNCES SENIOR EXECUTIVE APPOINTMENTS

Victor Dodig, president and chief executive officer of Canadian Imperial Bank of Commerce, has made leadership appointments to further the bank's client-focused strategy.

"We have built a modern, relationship-oriented bank that is positioned to further our momentum through the execution of our client-focused strategy," said Mr. Dodig. "Our highly connected and purpose-led team has been a key driver of our success, and the leadership changes we are announcing today will position our bank well to further our momentum and deliver relative outperformance. Each of these leaders have built deep industry expertise and strong leadership, and exemplify our purpose-led culture."

The following leadership changes are effective Nov. 1, 2022.

Mike Capatides, senior executive vice-president and group head, U.S. Region, and president and CEO of CIBC Bank USA, will be transitioning to the role of vice-chair of CIBC Bank USA, focused on developing and deepening client relationships. Mr. Capatides has been an important part of the company for more than 25 years, including as CAO (chief administrative officer) and general counsel, and his oversight of CIBC FirstCaribbean International Bank, as well as strategy and corporate development. "Under Mike's leadership, we have expanded our U.S. business and built a strong North American platform for growth, and he has been a trusted adviser and we look forward to his continued involvement with our clients moving forward," said Mr. Dodig.

Shawn Beber will assume the role of senior executive vice-president and group head, U.S. Region, and president and CEO of CIBC Bank USA and the U.S. bank holding company. Mr. Beber will be based in Chicago where he will continue efforts to build a strong and growing cross-border platform for clients. He most recently served as chief risk officer, and previously held senior roles with CIBC, including General Counsel, head of strategy and corporate development and head of U.S. Capital Markets. Mr. Beber was also instrumental in the acquisition of The PrivateBank in 2017 and played a lead role in the integration to build the growth platform the company has today. "Shawn brings deep understanding of our bank, proven execution experience on both sides of the border, and a strong client and relationship focus, which will be key as we continue building on our momentum in serving the private economy in North America," said Mr. Dodig.

Frank Guse will take on the role of senior executive vice-president and chief risk officer, and join CIBC's executive committee. Mr. Guse has deep experience in both risk and business roles. Most recently, he served as executive vice-president, strategy and transformation, personal and business banking. Mr. Guse previously led key risk management functions including risk analytics, reporting and credit decisioning. Prior to joining CIBC, Mr. Guse gained global experience with McKinsey & Company in Germany where he focused on risk management. "Frank's global expertise in all facets of risk management, coupled with his experience delivering transformative initiatives and strategic perspective, position him well for his new role and will make him an excellent addition to our executive committee," added Mr. Dodig.

Continuing in their current roles on CIBC's executive committee are: Harry Culham; Laura Dottori-Attanasio; Jon Hountalas; Christina Kramer; Kikelomo Lawal; Hratch Panossian; and Sandy Sharman.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. Across personal and business banking, commercial banking and wealth management, and capital markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network and locations across Canada, in the United States and around the world.

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