CIBC makes changes in senior executive ranks to strengthen leadership

TORONTO — CIBC is making changes to its executive team as it looks to strengthen its senior leadership.

The bank says chief financial officer Hratch Panossian will become senior executive vice-president and head of personal and business banking, effective April 1.

He will have joint accountability to chief executive Victor Dodig and Jon Hountalas, senior executive vice-president and group head of Canadian banking.

Robert Sedran, the bank’s treasurer, will become senior executive vice-president and chief financial officer and join the bank’s executive committee. 

Meanwhile, Harry Culham, senior executive vice-president and group head of capital markets and direct financial services, will add responsibility for enterprise strategy and corporate development, as well as the bank’s strategic client office. 

The bank says Shawn Beber, who was appointed senior executive vice-president and group head of the U.S. region and president and CEO of CIBC Bank USA, in 2022, will continue in his current role.

This report by The Canadian Press was first published March 7, 2024.

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The Canadian Press