CIBC World Markets
 |
|
| Subsidiary | |
| Industry | Investment bank |
| Predecessor |
Wood Gundy The Argosy Group Oppenheimer Holdings |
| Founded | 1988 (acquisition of Wood Gundy) |
| Headquarters | Toronto, Ontario, Canada |
|
Key people
|
Richard Nesbitt, CEO of World Markets |
| Products | Mergers and acquisitions, Capital markets, Financial services |
| Revenue |
 C$12.1 billion |
|
C$3.3 billion |
|
| Total assets |
C$342.2 billion |
|
Number of employees
|
1,100 |
| Parent | Canadian Imperial Bank of Commerce |
| Website | www.cibcwm.com |
CIBC World Markets is the investment banking subsidiary of the Canadian Imperial Bank of Commerce. The firm operates as an investment bank both in the domestic and international equity and debt capital markets. The bank provides a variety of financial services including credit and capital market products, mergers and acquisitions, merchant banking and other investment banking advisory services.
Established via a series of acquisitions, including Canadian brokerage Wood, Gundy & Co. and U.S.-based Oppenheimer & Co. CIBC World Markets has been a leading investment bank in Canada with a notable presence in various international markets at times over the years.
CIBC World Markets is headquartered in Toronto with offices in Calgary, Montreal, Vancouver, Ottawa, New York City, Atlanta, Boston, Chicago, Houston, Salt Lake City, Beijing, Dublin, Hong Kong, London, Shanghai, Singapore, Sydney and Tokyo.
CIBC purchased a majority stake in Wood, Gundy & Co. in June 1988 for C$203 million. Wood Gundy was established in Toronto in 1905 by George Herbert Wood and James Henry Gundy. At the time of its acquisition, Wood Gundy was the leading Canadian investment dealer. Following the acquisition, the 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.
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Wikipedia