Melissa Shin and Christine Dobby
(Bloomberg) – Canadian Imperial Commercial Bank is head of capital markets at Christian Exshaw Group, a series of appointments to become CEO later this year.
Exshaw will receive the title of Senior Executive Vice President on November 1 and replace Culham to oversee the capital markets, who has been deputy head of capital markets since September and has served as the bank since 2008. Culham became COO in April and will replace Victor Dodig as CEO on November 1.
“From the early days of the trading building to his years in the key leadership role in the capital markets, Christian is known for his clear focus on our clients, execution, innovation, and bringing growth mindsets to our banks,” Cullum said in a statement.
Shawn Beber, head of CIBC’s U.S. business, will become a special counsel on November 1 and retire on July 1, 2026. Beber joined the bank in 2002 and previously served as Chief Risk Officer and General Counsel. Kevin Li, the current head of global investment banking, will replace him in the U.S. supervisory role. Li has been working at CIBC since 1994.
The bank’s chief legal officer, Kikelomo Lawal, and North American bank vice chairman Jon Hountalas, also retired. Lawal was replaced by Stephen Scholtz, who was recently Canada’s general counsel and has served at CIBC for nearly two decades.
As part of the change, new roles or responsibilities are also acquired:
- Christina Kramer will become Chief Executive Officer.
- Hratch Panossian will add supervision of contact centers and customer marketing in his role as head of personal and commercial banking.
- Susan Rimmer will oversee CIBC’s Caribbean Commercial Bank and Head of Wealth Management.
- Amy South will serve as executive vice president of the CEO’s office and the Chief of Staff’s office.
CIBC is Canada’s fifth largest bank and has undergone several leadership changes in its capital markets operations over the past year and a half. In May, it hired Alfred Traboulsi to lead its U.S. investment banking team.
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