Canadian Imperial Bank of Commerce
 |
|
| Public | |
| Traded as | : CM : CM S&P/TSX 60 component |
| Industry | Financial Services, banking |
| Founded | 1961 |
| Headquarters |
Commerce Court Toronto, Ontario, Canada |
|
Key people
|
Victor Dodig, CEO and President Charles Sirois, Chairman |
| Revenue | C$13.376 billion (2014) |
 C$3.218 billion (2014) |
|
| Total assets |
C$501.357 billion (2016) |
|
Number of employees
|
44,424 (FTE, 2014) |
| Subsidiaries |
CIBC FirstCaribbean CIBC Retail Markets CIBC Wood Gundy CIBC World Markets |
| Website | www |
Victor Dodig, CEO and President
The Canadian Imperial Bank of Commerce (French: Banque Canadienne Impériale de Commerce), commonly referred to as CIBC, is one of the Big Five banks in Canada. The bank is headquartered at Commerce Court in Toronto, Ontario. CIBC's Institution Number (or bank number) is 010, and its SWIFT code is CIBCCATT.
The bank's two strategic business units, CIBC World Markets and CIBC Retail Markets, also have international operations in the United States, the Caribbean, Asia and Europe. Globally, CIBC serves more than eleven million clients, and has over 40,000 employees. The company ranks at number 172 on the Forbes Global 2000 listing. CIBC was named the strongest bank in North America and the 3rd strongest bank in the world, by Bloomberg Markets magazine.
The Canadian Imperial Bank of Commerce, as it is known today, came into being in 1961. The bank was formed through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada. At the time, they were two of Canada's largest banks.
The Honourable William McMaster founded the Canadian Bank of Commerce which opened on May 15, 1867, in Toronto as competition for the Bank of Montreal; by 1874 it had 24 branches.
The Imperial Bank of Canada opened in Toronto on March 18, 1875, founded by former Commerce Vice-president Henry Stark Howland.
By the end of 1895, the Canadian Bank of Commerce had grown to 58 branches and the Imperial Bank of Canada to 18.
The 1896 gold strike in the Yukon prompted the Dominion Government to ask the Canadian Bank of Commerce to open a branch in Dawson City. Acquisitions in the 1920s caused the Commerce Bank to become one of the strongest branch networks in Canada with over 700 local branches; and the bank opened international branches in Cuba, Jamaica, Barbados and Trinidad during the same period.
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Wikipedia