Canadian Imperial Bank of Commerce (CIBC) reorganized its senior executive team to integrate Canadian and U.S. operations. The restructuring occurs as Canada’s economy enters a technical recession.
Susan Rimmer will lead the newly unified North American Commercial Banking division. Eric Belanger will head the consolidated Wealth Management business for both countries.
Amy South was appointed Chief Administrative Officer and Chief of Staff. The bank also expanded the responsibilities of the Chief Financial Officer and Chief Technology Officer.
Christina Kramer, a 40-year veteran and current Chief Administrative Officer, will transition to a special advisor role. She will depart from the bank on October 31.
President and CEO Harry Culham directed the changes to streamline leadership and accelerate a North American client-focused strategy.