Canadian Imperial Bank of Commerce Profile
Canadian Imperial Bank of Commerce (CIBC) operates as a financial company in North America.
Strategic Business Units
The company operates through four strategic business units: Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, and Capital Markets and Direct Financial Services.
Canadian Personal and Business Banking provides personal and business clients across Canada with financial advice, services and solutions through banking centers, as well as mobile and online channels to help make their ambitions a reality.
Canadian Commercial Banking and Wealth Management provides high-touch, relationship-oriented banking and wealth management services to middle-market companies, entrepreneurs, high-net-worth individuals and families across Canada, as well as asset management services to institutional investors.
U.S. Commercial Banking and Wealth Management provides tailored, relationship-oriented banking and wealth management solutions across the U.S., focusing on middle-market and mid-corporate companies, entrepreneurs, high-net-worth individuals and families, as well as operating personal and small business banking services in four U.S. markets.
Capital Markets and Direct Financial Services provides integrated global markets products and services, investment banking and corporate banking solutions, and top-ranked research to the company's clients around the world, and leverages CIBC's digital capabilities to provide a cohesive set of direct banking, direct investing and innovative multi-currency payment solutions for CIBC's clients.
Business Strategy
The company focuses on helping its clients achieve their ambitions, and delivering sustainable, market-leading performance. The key elements of the company's strategy include delivering personalized advice to its clients in a way that is meaningful and relevant to each of them; introducing more opportunities for its clients to deal with it digitally by investing in digital and real-time remote capabilities; and providing its team with the tools to deliver an excellent experience for its clients consistent with a one-team approach.
Regulation
The Bank Act (Canada) prohibits a bank, including CIBC, from recording in its securities register the transfer or issuance of shares of any class to His Majesty in right of Canada or of a province, an agent or agency of His Majesty, a government of a foreign country or any political subdivision of a foreign country, or an agent or agency of a foreign government.
The Bank Act (Canada) also suspends the exercise of any voting rights attached to any share of a bank, including CIBC, which is beneficially owned by His Majesty in right of Canada or of a province, an agency of Her Majesty, a government of a foreign country or any political subdivision of a foreign country, or any agency thereof.
History
Canadian Imperial Bank of Commerce was founded in 1867.
