Canadian Imperial Bank of Commerce (CIBC) has named Victor Dodig as new president and chief executive officer, effective 15 September 2014, replacing Gerald McCaughey.
Dodig is currently senior executive vice-president at CIBC and group head of wealth management.
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Dodig joined CIBC in 2005 and has been serving as group head of wealth management since 2011.
He started his career working in CIBC’s branch system as a customer service representative and also lead CIBC’s retail banking distribution and sales team from 2007 to 2011.
Prior to joining CIBC, Dodig served as managing director and chief executive officer in Canada for UBS Global Asset Management.
Prior to this, he spent five years as managing director in Canada, the US and the UK for Merrill Lynch and Company and also worked for three years as a management consultant with McKinsey and Company.
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By GlobalDataCharles Sirois, chair of the board, CIBC, said: "Following a robust succession planning process, the Board has appointed Victor Dodig as CEO to lead the continued execution of CIBC’s strategy and drive long-term, sustainable growth.
"He has a deep understanding of CIBC’s strategy, culture and opportunities, and has demonstrated his ability to complement CIBC’s organic growth plan with acquisitions and investments that align to the bank’s risk profile," he added.
