TORONTO — CIBC says its president and chief executive Victor Dodig is set to retire this fall and will be succeeded by Harry Culham, who has also been appointed chief operating officer effective April 1.
The bank says Dodig, who has led CIBC since September 2014, will continue on as a special adviser to Culham after the transition on Nov. 1.
Dodig says the bank’s strategy under his leadership has focused on “client relationships, financial strength, innovation, sustainability and genuine community engagement.”
Board of directors chair Kate Stevenson touted CIBC’s acquisitions of PrivateBancorp, Inc. and Costco’s Canadian credit card portfolio during Dodig’s time as CEO, noting the latter added more than two-million clients to CIBC, including many mass affluent and business banking clients.
The bank says Culham has led capital markets and other key areas of CIBC’s businesses and head office groups after first joining the bank in Vancouver as an intern and participating in one of its first-ever graduate programs.
Dodig says his successor is a proven leader whose “client focus, inclusive leadership and track record of performance and consistency position him perfectly to take the bank forward and build on the momentum we have established.”
This report by The Canadian Press was first published March 13, 2025.
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