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 Treasury 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 www.cibc.com.
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