Two of CIBC’s top executives are retiring this year.
Chief operating officer (COO) Richard Nesbitt, who originally planned to retire in October 2015, has advanced his departure date and is now leaving the bank.
He joined CIBC in 2008 as CEO of CIBC World Markets. In 2011, he took on expanded responsibility for CIBC’s international operations and technology and operations division as well as responsibility for the bank’s strategy. In 2013, he was appointed COO.
From 2004 to 2008, Nesbitt was CEO of the TSX Group, having joined TSX as president of TSX Markets in 2001. Prior to joining the company in 2001, he served as president and COO of BayStreetDirect Inc. Before that he was president and CEO of HSBC Securities Canada for three years, after having worked for 10 years at CIBC Wood Gundy.
And Tom Woods, senior executive vice-president and vice-chairman with CIBC, will be retiring at the end of the year.
He has spent his entire career with CIBC. He joined Wood Gundy, the predecessor firm of CIBC World Markets, in investment banking in 1977, following which he was named head of Canadian corporate banking, CIBC’s chief financial officer, chief risk officer and, most recently, vice-chairman of the bank.
For more industry moves, check out People Watch.
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