CIBC Wood Gundy

CIBC Wood Gundy

"one to one"
Type	Subsidiary
Industry	Financial services
Predecessor	Wood Gundy
Founded	1988
Headquarters	Toronto, Ontario, Canada
Products	Brokerage
Number of employees	1,400
Parent	Canadian Imperial Bank of Commerce
Website	www.woodgundy.com

CIBC Wood Gundy is the Canadian retail brokerage division of CIBC Wealth Management, a division of the Canadian Imperial Bank of Commerce.

CIBC Wood Gundy maintains a network of 1,400 brokers working in over 100 branches across Canada. The company’s products include , bonds, registered accounts, money market instruments and mutual funds It also offers insurance as well as retirement, estate, and financial planning; investment advice and money management services.

The business was created in 1988 with the purchase of Wood Gundy by the Canadian Imperial Bank of Commerce (CIBC). From 1988 through 1997, CIBC Wood Gundy was the universal name of CIBC's investment banking operations. However, the business was renamed after the acquisition of the investment banking operations of Oppenheimer & Co. in 1997. The business was subsequently renamed CIBC Oppenheimer and later CIBC World Markets.

Wood, Gundy & Company was established in Toronto, Ontario in 1905 by George Herbert Wood and James Henry Gundy. The firm first specialized in the distribution and underwriting of government and municipal bonds.

CIBC purchased a majority stake in Wood, Gundy & Co. in June 1988 for C$203 million. At the time of its acquisition, Wood Gundy was the leading Canadian investment dealer. Following the acquisition, CIBC formed CIBC Wood Gundy, which offered primarily asset management services for corporate and institutional clients. Two years later, in 1990, they continued to expand the Canadian securities business by acquiring much of Merrill Lynch & Company's Canadian business.