#Canada #Toronto #Wealth Management #CIBC #Commercial Banking

CIBC Announces Significant Changes in Senior Executive Leadership Team

In a strategic move to boost its performance and client-centric approach, CIBC (Canadian Imperial Bank of Commerce) has announced key changes in its Group Executive Leadership Team. As of May 28, 2026, these changes are set to reinforce the bank's purpose-led and client-focused strategy, enhancing connectivity and collaboration within its operations across North America.

Leadership Changes

Harry Culham, the President and CEO of CIBC, expressed that the bank's strategy execution, coupled with its deep commitment to clients, has propelled strong business results. The recent changes in leadership are designed to accelerate the bank's initiative as a connected, performance-driven entity that seeks to generate value for all stakeholders involved.

The changes include:

• - Susan Rimmer has been promoted to Senior Executive Vice-President and Group Head of Commercial Banking. In addition to her ongoing leadership in Canada, she will now oversee Commercial Banking operations in the U.S. Her appointment consolidates CIBC's commitment to supporting commercial enterprises vital for economic growth—assisting clients with comprehensive solutions and insights.

• - Eric Belanger steps up as Senior Executive Vice-President and Group Head of Wealth Management, encompassing Wealth Management in both Canada and the U.S. His extensive experience of over 30 years positions him well to align North American wealth services and foster deeper client relationships, thus promoting growth across market segments.

• - Kevin Li retains his position as Senior Executive Vice-President and Group Head of the U.S. Region, where he will continue to deepen and expand client relationships through strategic business connectivity. Li’s expertise and relationships across North America and Europe are pivotal for scaling growth in the U.S. market across various banking sectors, including Commercial Banking and Capital Markets.

CIBC will also report on four distinct business segments going forward: Canadian Personal and Business Banking, Commercial Banking, Wealth Management, and Capital Markets. The updated segment reporting is anticipated for the fourth quarter of 2026.

Infrastructure Development

Changes are not limited to executive appointments but also extend to infrastructure roles, aimed at enhancing the execution of the bank's client-focused strategy. Notable transitions include:

• - Christina Kramer is assigned as Special Advisor, concluding her impactful 40-year tenure with CIBC on October 31. Throughout her career, she championed client-centric initiatives and collaborative leadership, establishing high operational standards.

• - Amy South is moving into the role of Senior Executive Vice-President, CAO, and Chief of Staff, while maintaining control of CIBC Mellon. Her diverse experience across client-facing roles will help steer the execution of strategic priorities effectively.

Other leaders in the executive team will continue their roles while expanding responsibilities to support the bank's operational strategy further:

• - Richard Jardim will now oversee the Chief Security Office in addition to his role as Chief Technology and Information Officer.
• - Robert Sedran will add Enterprise Transformation to his existing financial oversight.
• - Stephen Scholtz will extend his role to include Corporate Governance and Sustainability.

Conclusion

These significant appointments and structural adjustments at CIBC reflect a strong commitment to enhancing its service delivery across North America. Under the guidance of the revised executive leadership team, CIBC aims to leverage its strengths in connectivity, collaboration, and client-focused solutions, securing its position as a leading financial institution in the evolving market landscape. The bank continues to prioritize its mission, focused on delivering valuable experiences and insights that are essential for growth and success in the modern banking environment.

For ongoing updates and more information on CIBC, visit CIBC's media center.