The Globe and Mail reports in its Wednesday, Oct. 5, edition that Canadian Imperial Bank of Commerce has named a new head of its U.S. operations, choosing current chief risk officer Shawn Beber to lead a growing unit. The Globe's James Bradshaw writes that Mr. Beber will take over as group head of the bank's U.S. region on Nov. 1, serving as president and chief executive officer of CIBC Bank USA. He will be based in Chicago, where the bank has its U.S. headquarters. Mr. Beber has been CIBC's chief risk officer since 2020, and was previously head of the bank's U.S. capital markets division. He was also closely involved in the bank's 2017 acquisition of Chicago-based PrivateBancorp for $5-billion (U.S.), which now forms the cornerstone of its U.S. business, when he served as the bank's general counsel and led its corporate development office. The bank's current U.S. head, Mike Capatides, will become a vice-chair of CIBC Bank USA, and spend his time working on relationships with clients. Taking over Mr. Beber's role as chief risk officer is Frank Guse, the current executive vice-president of strategy and transformation for the personal and business banking division. He has past experience in risk.