Canadian Imperial Bank of Commerce named Chief Risk Officer Shawn Beber as the new head of its U.S. division and tapped Susan Rimmer to lead the company’s global corporate and investment banking franchise.
CIBC is counting on the U.S. for a major portion of its growth in the years ahead, building on its US$5 billion acquisition of Chicago-based wealth manager and business lender PrivateBancorp Inc. in 2017. The strategy is focused on getting CIBC’s commercial-banking, capital-markets and wealth-management units to work together to serve the country’s entrepreneurs.
Frank Guse, currently executive vice president for strategy and transformation in personal and business banking, will take over as chief risk officer.
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