DodigPresident and CEO [2]. The Canadian Imperial Bank of Commerce French: The bank is headquartered at Commerce Court in TorontoOntario. The bank has three strategic business units: Retail and Business Banking, Wealth Management, and Capital Markets. It has international operations in the United Statesthe CaribbeanAsiaand Europe.

Globally, CIBC serves more than eleven million clients, and has over 40, employees. The company ranks at number on the Forbes Global listing. The Canadian Imperial Bank of Commerce, as it is known today, came into being in The bank was formed through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada. At the time, they were two of Canada's largest banks. The Honourable William McMaster founded the Canadian Bank of Commerce which opened on May 15,in Toronto as competition for the Bank of Montreal; by it had 24 branches.

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The Imperial Bank of Canada opened in Toronto on March 18,founded by former Commerce Vice-president Henry Stark Howland. By the end ofthe Canadian Bank of Commerce had grown to 58 branches and the Imperial Bank of Canada to The gold strike in the Yukon prompted the Dominion Government to ask the Canadian Bank of Commerce to open a branch in Dawson City.

Acquisitions in the s caused the Commerce Bank to become one of the strongest branch networks in Canada with over local branches; and the bank opened international branches in Cuba, Jamaica, Barbados and Trinidad during the same period. During World War Iit took a prominent and active role in the organization of Victory Loans. The Canadian Bank of Commerce opened its new head office in Toronto in An observation gallery on the 32nd floor attracted visitors who could get an aerial view of the city.

Following World War IIboth banks opened new branches. Although the banks had been barred from the mortgage business sincethe Canadian government now called upon them to provide mortgage services.

So, inCanadian banks started offering mortgages for new construction. InImperial chairman Stuart Mackersy approached Neil McKinnon the President of the Commerce with a proposal to merge the two banks. This followed a decade of expansion in the Canadian economy and Canada's capitalization of the industrialization of its natural resources.

They quickly reached a deal between the two banks. On June 1,the Canadian Bank of Commerce and the Imperial Bank of Canada merged to form the Canadian Imperial Bank of Commerce with over 1, branches across Canada. The new bank possessed the greatest resources and the most branches of any bank in the country. Following the merger, the new bank commissioned a new head office.

While planning to retain Commerce Court North, the bank hired architect I. Pei to design a three-building complex. When completed inthe storey building was the tallest in Canada, and the largest stainless-steel-clad building in the world. Inboth Canada and CIBC celebrated their centenaries and CIBC was the only chartered bank to have a branch on-site at Expo Also at this time computerization began to change banking services and the Yonge and Bloor branch in Toronto was the first Canadian bank branch to update customer bank books via computer.

This also marked the introduction of inter-branch banking. Before the decade was out, CIBC had introduced the first hour cash dispenser, which would eventually become the ATM. Changes to federal and provincial regulations ending the separation of banks, investment dealers, trust companies and insurance companies came in CIBC quickly took advantage of this and became the first Canadian bank to operate an investment dealer, CIBC Securities, offering services to the public.

InCIBC acquired a majority interest in Wood Gundy which brought a well-respected name and reputation in underwriting. Shortly thereafter, the corporation merged Wood Gundy and CIBC Securities under the name CIBC Wood Gundy which became CIBC Oppenheimer in [13] and later, CIBC World Markets.

InCIBC introduced automated telephone banking; in the bank launched its website, and shortly thereafter began offering banking services online. InCIBC joined with Loblaws to create President's Choice Financial which it launched in 28 Ottawa area stores.

CIBC agreed to merge with the Toronto-Dominion Bank in However the Government of Canadaat the recommendation of then Finance Minister Paul Martinblocked the merger — as well as another proposed by the Bank of Montreal with the Royal Bank of Canada — as not in the best interest of Canadians.

CIBC sold its corporate and purchasing credit card business to U. Bank Canada in October which joined it with business charge cards it previously acquired from Royal Bank of Canada. Inthe stock ticker symbol on the New York Stock Exchange changed from BCM to CM to bring it in line with the ticker symbol on the Toronto Stock Exchange.

On February 12,the Trinidad and Tobago Express reported that CIBC was pursuing discussions to buy CL Financial 's stake in the Republic Bank of Trinidad and Tobago. As of FebruaryCL Financial had yet to agree to a sale. In February, CIBC became the first chartered bank in Canada to launch a mobile banking iPhone App. It surpasseddownloads in just over one month following launch, with over 1 million client logins to CIBC Mobile Banking since its introduction.

Finally in October of that year, CIBC announced that it would be the first bank in Canada to introduce the internationally used Visa-branded debit card. InCanadian Bank of Commerce established its first branches in the West Indies in BridgetownBarbados and in Kingston, Jamaica.

That same year it also opened branches in Port of SpainTrinidad and HavanaCuba.

Its first branch in Mexico City opened in Inthe bank opened a branch in Nassauthe Bahamasand in the subsequent years expanded its operations in Jamaica.

Between andthe bank expanded its branch network in Barbados opened branches in St. VincentAntiguaand St Lucia. Between andthe bank restructured its holdings in the Caribbean, with the incorporation of CIBC West Indies Holdings Limited and CIBC Caribbean Limited. InCIBC issued 5 million shares in CIBC Bahamas Limited to the public. On October 31,Barclays and CIBC agreed to combine their Caribbean operations to establish FirstCaribbean International Bank. Li Ka ShingHong Kong billionaire was the largest foreign shareholder in the bank for over two decades, but in early he sold his portion est.

Li's choice for financing many of his Canadian ventures, like Husky Energy. Li had reportedly backed personal and commercial banking head Holger Kluge to succeed Al Flood as CEO of CIBC in CIBC is well known for its publicized battles of succession to the top position of President and CEO formerly styled chairman and CEO until when the positions were separated.

When Al Flood became CEO, one of his first acts was to fire his chief rival Paul Cantor. Inthe company saw a competition between Wood Gundy now CIBC World Markets chief John S. In FebruaryHunkin forced his friend and heir-apparent, David Kassie, to resign as chairman and CEO of World Markets after several scandals in the US. Both men had waived their bonuses in after that year produced the worst results in the history of the bank.

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Kassie afterwards founded Genuity Capital and was alleged to have raided 20 key employees from World Markets for his new startup, causing CIBC to file suit. McCaughey became Kassie's replacement heading World Markets and in Februarywas promoted to President and chief operating officer, assuring his succession as CEO. Denham was reportedly a close ally of Hunkin and Kassie and McCaughey wanted to build his own senior executive team.

Current members of the board of directors: As a founding partner of the Toronto Blue Jays baseball club, CIBC was the team's official bank until selling its ownership stake in CIBC partnered with Air Canada in to offer credit cards as part of the airline's loyalty program, Aeroplan.

Inthe program announced that a new agreement with Toronto-Dominion Bank would be effective January 1, symphonys presto algo trading system As part of its purchase of MasterCard from Citibank Canada inCIBC acquired the co-branded Petro-Canada rewards credit card and continues to jointly market the card.

On October 27,CIBC announced a partnership with the PANAM Toronto Organizing Committee to become lead partner of the Pan American Games and Parapan American Games [33].

CIBC is an industry partner of the University of Waterloo Stratford Campus. On October 26,rating agency Moody's Investors Service announced it would review the long-term ratings of CIBC along with other Canadian banks, because of concerns about consumer debt levels, housing prices, a sizable exposure to capital markets and more.

The review resulted in a downgrade from Aa2 to Aa3 on January 28, On December 22,the U. The money is intended to be returned playing dividend stocks options strategy Enron fraud victims pursuant to the Fair Fund provisions of Section a of atb financial online trading Sarbanes-Oxley Act of The SEC also sued three of CIBC's executives.

The SEC complaint charges that "CIBC and atb financial online trading three executives with having helped Enron to mislead its investors through a series of complex structured finance transactions over a period of several years preceding Enron's bankruptcy. Linda Chatman Thomsen, director of the SEC's division of enforcement, said, "by knowingly financing customers' late trading and market timing, as well as providing financing in amounts far greater than the law allows, CIHI and World Markets boosted their customers' trading profits at the expense of long-term mutual fund shareholders.

On August 27,CIBC confirmed that it would settle a forex market trader 2.0 lawsuit on behalf of CIBC Visa cardholders.

The plaintiffs alleged that the conversion of foreign-currency transactions resulted in an undisclosed or inadequately disclosed mark-up.

The bank also announced that it has not admitted any liability and is settling to avoid further litigation with its cardholders. In cases chinese stock market crash chart clients were undercharged, the bank decided not to seek reimbursement. On April 18, the Privacy Commissioner of Canada expressed disappointment in the way CIBC dealt with incidents involving the bank misdirecting faxes containing customers' personal information.

The misdirected faxes contained the social security numbers, home addresses, phone numbers, and detailed bank account data of several hundred bank customers. The second incident involved a Dorval businessman and allegedly took place from to In both cases, the commissioner noted that the bank did not inform the affected clients, whose personal information was compromised, until the incidents became public and an investigation was underway.

Within days of reports by CTV News and The Globe and MailCIBC management announced a directive that banned employees from using fax machines to transmit any documents containing confidential customer information. On January 18,CIBC Asset Management announced that the personal information of aboutcurrent and ozforex travel login clients of Talvest Mutual Funds, a CIBC subsidiary, had gone missing.

Canadian Imperial Bank of Commerce is a class action brought on behalf of current and former adventure quest worlds money maker, non-unionized employees of CIBC in Canada who are or were tellers or other front-line customer service employees working at CIBC retail branch office across Canada.

The lawsuit alleges that class members are assigned heavier workloads than could be completed within their standard working hours. They earning money playing video games required or permitted to work overtime to meet the demands of their jobs and CIBC failed to pay for the overtime work in direct contravention of currency traders handbook Canada Labour Code under which they are regulated.

The Ontario Superior Court dismissed the suit June 18,stating the evidence '"provides no basis in fact that there is a systemic practice of unpaid overtime at CIBC. An employee of the Bank of Nova Scotia Scotiabank filed a similar suit which the Superior Court certified.

Fresco and Scotiabank each appealed their adverse, and contradictory, rulings and the Ontario Court of Appeal ruled that both cases could proceed. Both banks appealed to the Supreme Court of Canada which on March 21,denied their requests and allowed the lawsuits to proceed. CIBC on Sparks Street in Downtown Ottawa. CIBC FirstCaribbean's regional head office, Warrens, St. CIBC building in Halifax. From Wikipedia, the free encyclopedia. For other uses, see CIBC disambiguation. Canadian Bank of Commerce and Imperial Bank of Canada.

CIBC FirstCaribbean International Bank. Atrium on Bay in Toronto. CIBC Tower in Downtown Montreal. Retrieved 17 May The New York Times. CIBC to go after Republic Bank stake". Trinidad and Tobago Express.

The Globe and Mail. Retrieved July 5, McCaughey, President and Chief Executive Officer, CIBC". Retrieved 24 April Ian SchottlaenderU.

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H Southern District of Texas 13 July Privacy Commissioner of Canada. Canadian Imperial Bank of Commerce. Fiscal year statistics Net income: CIBC FirstCaribbean International Bank International banking: CIBC Private Wealth Management Canadian mutual funds: CIBC Mutual Funds Canadian brokerage: CIBC Investor's Edge and CIBC Wood Gundy Canadian insurance: CIBC Insurance Capital markets: CIBC World Markets Custodial: Banks and credit unions in Canada.

Bank of Montreal Canadian Imperial Bank of Commerce President's Choice Financial Royal Bank of Canada Scotiabank Tangerine Toronto-Dominion Bank TD Canada Trust. AMEX Bank of Canada Bridgewater Bank Business Development Bank of Canada Canadian Tire Financial Services Canadian Western Bank Citibank Canada Equitable Bank Exchange Bank of Canada First Nations Bank of Canada HSBC Bank Canada ICICI Bank Canada Laurentian Bank of Canada Manulife Bank of Canada Meridian Bank National Bank of Canada Rogers Bank Vancity Community Investment Bank VersaBank Wealth One Bank of Canada.

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Financial Servicesbanking. Commerce Court TorontoOntarioCanada. DodigPresident and CEO [2] John ManleyChair of the Board [3]. CIBC Holdings Cayman Limited CIBC World Markets CIBC Trust Corporation CIBC Asset Management Inc. This section needs expansion. You can help by adding to it. Wikimedia Commons has media related to CIBC. Major brands by financial service.

Banks Big Five Bank of Montreal Canadian Imperial Bank of Commerce President's Choice Financial Royal Bank of Canada Scotiabank Tangerine Toronto-Dominion Bank TD Canada Trust. Credit unions Credit unions Affinity Credit Union Aldergrove Credit Union Alterna Savings Assiniboine Credit Union BlueShore Financial Central 1 Credit Union Coast Capital Savings Concentra Financial Conexus Credit Union Credit Union Central of Canada Desjardins Group Envision Financial First Calgary Financial First West Credit Union Gulf and Fraser Fishermen's Credit Union Island Savings Kawartha Credit Union Kootenay Savings Credit Union Libro Financial Group Meridian Credit Union Mouvement des caisses populaires acadiennes Servus Credit Union Steinbach Credit Union TCU Financial Group Vancity Windsor Family Credit Union Your Credit Union Your Neighbourhood Credit Union.

Other financial institutions Federal financial institutions Farm Credit Canada.

Government policy and spending responses Banking and finance stability and reform Anglo Irish Bank Corporation Act Banking Special Provisions Act China—Japan—South Korea trilateral summit Commercial Paper Funding Facility Dodd—Frank Wall Street Reform and Consumer Protection Act Emergency Economic Stabilization Act of Irish emergency budget, Irish budget, Irish budget, Irish budget, Irish budget, Temporary Liquidity Guarantee Program Term Asset-Backed Securities Loan Facility Troubled Asset Relief Program United Kingdom bank rescue package Bank stress tests EU U.

List of banks acquired or bankrupted during the Great Recession Non-banking Chrysler General Motors.