Friday, December 19th4.8°C
24563
23931

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.

The Canadian Press


Read more Business News

23954


Recent Trending




Today's Market
S&P TSX14468.26+121.51
S&P CDNX676.54+11.04
DJIA17804.8026.65
Nasdaq4765.38+16.983
S&P 5002070.65+9.42
CDN Dollar0.8618+0.0001
Gold1197.20+2.50
Oil56.50+2.39
Lumber338.60+1.70
Natural Gas3.446-0.196

 
Okanagan Companies
Pacific Safety0.12-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.25-0.03
Cantex0.03-0.005
Anavex Life Sciences0.1726+0.0026
Metalex Ventures0.05-0.005
Russel Metals25.58-0.42
Copper Mountain Mining1.55-0.02
Colorado Resources0.120.00
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.05-0.005
Mission Ready Services0.215-0.01

 
23744


24387

FEATURED Property
17979007210 Brent Road, Peachland, BC
5 bedrooms 4 baths
$1,079,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Reflecting on the end of the year

The importance of the end of the year and the Christmas holidays is profound. It is a time to reconnect with family and traditions that have made us who we are. But the year-end has always been a time...


My final thoughts on real estate

This will be the last column I write on real estate. Largely because at the end of the year I will be handing in my license. After 20+ years of working in land development, resort development and rea...


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...

_








Member of BC Press Council


24433