CIBC has named Richard Nesbitt as its chief operating officer, effective immediately.
His organizational responsibilities will remain unchanged.
“This title is in recognition of the leadership role Richard has been playing at CIBC over the past two years and the increased responsibilities he was given during that time,” says Gerry McCaughey, CIBC’s president and CEO.
Nesbitt previously held the title of senior executive vice-president and group head, wholesale, international, and technology and operations.
Prior to rejoining the country’s fifth-largest bank in 2008, he was the CEO of TSX Group (now TMX Group) and president and CEO of HSBC Securities Canada. Nesbitt also spent 10 years at CIBC Wood Gundy.
The bank has also named a woman to its senior executive team. Laura Dottori-Attanasio will take over the role of chief risk officer from Tom Woods starting in July.
She was most recently global head of corporate credit products in which she was responsible for all credit activities at CIBC’s wholesale bank. Dottori-Attanasio has more than 20 years of experience in the finance sector.
Woods will be a vice-chairman and responsible for chairing the bank’s asset liability committee, acting as lead liaison with the bank’s regulators and being an active member of the bank’s business strategy group. He’s been with the bank since 1977.
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