(Toronto) CIBC is making changes to its management team to “strengthen its leadership capabilities.”
The financial institution announced Thursday that Chief Financial Officer Hratch Panossian will become Senior Executive Vice President and Head of Personal and Small Business Banking, effective March 1er april.
He will report simultaneously to President and CEO 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 services officer. He will join the bank’s management committee.
Meanwhile, Harry Culham, executive vice president and group head, capital markets and direct financial services, will have new responsibilities that include the position of corporate strategy and development, as well as the office of strategic clientele of the bank.
The bank also mentions that Shawn Beber, who was named Senior Executive Vice President and Group Head, United States Region, and President and CEO of CIBC Bank USA, will remain in his current position.