CIBC chief operating officer Richard Nesbitt to retire in October 2015
TORONTO - CIBC (TSX:CM) said Thursday that chief operating officer Richard Nesbitt plans to retire in October 2015.
As chief operating officer, Nesbitt is responsible for a broad swath of operations at CIBC, including its wholesale banking business, international operations and treasury.
CIBC president and chief executive Gerry McCaughey said Nesbitt has made significant contributions to the bank.
"I, and the board of directors, respect Richard's decision and appreciate his commitment to ensure a smooth transition to new leadership in his areas of responsibility," McCaughey said.
"In the meantime, he will continue to be a key member of the executive team focused on building further momentum in our business and increased focus on our clients."
Nesbitt, 58, was chief executive of TSX Group before he joined CIBC in 2008.
Before joining TSX, Nesbitt held a number of senior jobs on Bay Street including president and chief operating officer of BayStreetDirect Inc., an Internet-based investment dealer, and president and chief executive of HSBC Securities Canada.
Read more Business News
- Wildfire destroys 10 homesWorld - 12:20 pm
- Warriors hand on, sweep weekendBCHL - 5:15 pm
- Tour operator condemnedBC - 8:47 am
- Firefighters fill boots w cashCentral Okanagan - 8:26 am
|QHR Technologies Inc||1.37||+0.05|
|Anavex Life Sciences||0.223||-0.0031|
|Copper Mountain Mining||2.66||-0.02|
|Sunrise Resources Ltd||0.02||-0.005|
|Mission Ready Services||0.29||-0.01|
“Is this a fair offer from ICBC?”…. “How much should I settle for?”… “What is my claim worth?” These are just some of the questions I regularly get as...
Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...
There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...