CIBC has completed the sale of its U.S. domestic investment banking, equities, leveraged finance and related debt capital markets businesses to Oppenheimer Holdings Inc.
The closing also includes CIBC’s Israeli investing banking and equities business.
Financial terms of the deal were not disclosed.
The sale also includes certain parts of CIBC World Markets’ U.S. capital markets-related businesses located in the United Kingdom and Asia. These are expected to occur sometime in the future, subject to regulatory approval.
CIBC is keeping its other wholesale businesses in the United States, which include real estate finance, equity and commodity structured products, merchant banking and oil and gas advisory, as well as the balance of its U.S. debt capital markets, Asia and U.K. businesses.
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