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UPDATE 1-CIBC makes executive changes in wholesale banking team

Published 2015-09-15, 04:00 p/m
© Reuters. UPDATE 1-CIBC makes executive changes in wholesale banking team
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(Adds details on Exshaw's role, share movement)
By John Tilak
TORONTO, Sept 15 (Reuters) - Canadian Imperial Bank of
Commerce CM.TO has made two key executive changes within its
wholesale banking business as Canada's fifth biggest bank
further consolidates under Chief Executive Victor Dodig.
Dodig, who took over as CEO a year ago, has driven several
management shuffles in that time as he looks to address CIBC 's
competitive challenges in the domestic market.
In two newly created positions, Roman Dubczak has been named
head of global investment banking and Christian Exshaw head of
global markets, according to an internal memo seen by Reuters.
The announcement came from Harry Culham, group head of wholesale
banking.
Dubczak was previously head of equity markets, and Exshaw
was earlier head of capital markets trading.
Dubczak's appointment follows the planned retirement of
Geoff Belsher, group co-head of CIBC's wholesale banking
business. Dubczak is seen taking on some of Belsher's
responsibilities and will now oversee M&A advisory, equity
capital markets, debt capital markets and infrastructure
finance.
In his expanded role, Exshaw will look after capital markets
sales, trading and research.
For the first half of the year, CIBC ranked No. 3 in equity
capital markets and No. 2 in debt capital markets, according to
Thomson Reuters data for Canada.
CIBC has advised Element Financial EFN.TO , Brookfield
Asset Management Inc BAMa.TO and Bombardier Inc BBDb.TO on
equity deals this year.
CIBC shares were up 0.9 percent in afternoon trade in
Toronto.

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