CIBC expands U.S. energy investment banking team with addition of four directors

Neil Davids, David Janashvili and David Yeh have joined as managing directors, the former two from BNP Paribas and Canaccord Genuity, also in New York. Yeh, a climate investor and a senior advisor in President Barack Obama’s administration, will be based in San Francisco.

The expansion comes as investment banks and other firms in the U.S. slow hiring as concerns about inflation and a tight labour market. CIBC last month missed analysts’ estimates for second-quarter profit, in part due to higher expenses driven by spending on strategic initiatives, including in the U.S., and employee compensation, but the bank has said the spending is expected to moderate in the second half.

Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bay Street’s big chill sets in as share sales crater, sapping fees from investment banksFrom January to May, the total amount of money raised in Canadian share sales dropped to $10.5-billion, down 57 per cent relative to the same period last year
Source: globeandmail - 🏆 5. / 92 Read more »