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CIBC Announces Reorganization of Treasury and Risk Management

    Ken Kilgour Named Chief Risk Officer, Risk Management
    Tom Woods, Chief Financial Officer, Assumes Expanded Responsibility for

    TORONTO, May 31 /CNW/ - CIBC announced today a reorganization of its
Treasury and Risk Management Group.
    Ken Kilgour, currently Executive Vice President, Treasury and Risk
Management, has been named CIBC's Chief Risk Officer and Senior Executive Vice
President, effective immediately. Mr. Kilgour's current responsibilities for
Retail and Corporate Credit will be expanded to include all aspects of Risk
Management at CIBC.
    Tom Woods, Senior Executive Vice President and Chief Financial Officer,
will assume expanded responsibility for CIBC's Treasury operations while
maintaining his current responsibilities.
    CIBC also announced that Steven McGirr, Chief Risk Officer, Treasury and
Risk Management, will be leaving the organization effective July 1, 2007 and
will transition his responsibilities during that time.
    "Ken has a proven history of success during his 25 years at CIBC," said
Gerry McCaughey, President and Chief Executive Officer of CIBC. "He has strong
knowledge of our Retail and Wholesale banking businesses and extensive
experience and understanding of our risk management practices and policies. He
will help further support our client focus and our overall objective to
deliver consistent and sustainable revenue and earnings performance over the
long term."
    Mr. Kilgour joined CIBC in 1982 and has held a number of senior
management positions with CIBC and CIBC World Markets.
    "I want to thank Steve for his more than two decades of service to CIBC
and wish him continued success in the future," said Mr. McCaughey.

    CIBC is a leading North American financial institution with almost 11
million personal banking and business customers. CIBC offers a full range of
products and services through its comprehensive electronic banking network,
branches and offices across Canada, in the United States and around the world.
You can find other news releases and information about CIBC in our Press
Centre on our corporate website at

For further information:
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