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Responsibility for commercial banking and wealth management will be joined together under group head Jon Hountalas, a more recent hire who joined the bank in 2010.The executive turnover comes just days before CIBC is expected to close its $4.9-billion (U.S.) acquisition of Chicago-based PrivateBancorp Inc. – a signature deal that will reshape the Canadian bank's ambitions in the United States and promises to be key to its future growth.
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Tom Woods, senior executive vice-president and vice-chairman of CIBC, will also be retiring from CIBC, effective Dec. 31.
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Richman is focused on developing client relationships, fostering community engagement and mentoring team members. I considered staying,” said Mr. Woods, 61, who has worked at CIBC and predecessor companies for 37 years. If you are looking to give feedback on our new site, please send it along to To view this site properly, enable cookies in your browser.
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