CIBC has announced an overhaul in its senior leadership, sparked, it would appear, by the departure of Sonia Baxendale, senior executive vice-president and president of retail markets is leaving CIBC.
“I would like to thank Sonia for her significant contribution to CIBC over many years,” said Gerry McCaughey, president and CEO of the bank. “Thanks to Sonia’s leadership our retail markets franchise today is strong, with market-leading positions in many businesses and a track record of innovation that has enhanced the value we provide our clients. I would also like to recognize Sonia’s leadership on initiatives to strengthen the overall CIBC brand.”
With Baxendale’s departure, David Williamson has been named senior executive vice-president, CIBC, and group head, retail and business banking. Williamson vacates his role as the bank’s CFO, which he has held since January 2008.
Replacing Williamson as CFO is Kevin Glass, who has also been named senior executive vice-president, CIBC.
Victor Dodig has been named senior executive vice-president, CIBC, and group head, wealth management.
Richard Nesbitt has been named senior executive vice-president, CIBC, and group head, wholesale, international and technology and operations.
“These individuals are accomplished leaders with a proven track record of success,” said McCaughey.
“The changes we are announcing today will enable us to continue to execute our strategy while providing key members of our management team expanded responsibilities and new mandates that will be critical as we continue to grow our business.”