Plans to expand lending to help Quebec-based businesses grow

MONTREAL, Feb. 24 /CNW/ - CIBC announced today that it has opened a new corporate lending office in Montreal, focused on providing capital to growth-oriented Quebec-based businesses.

"Quebec has a strong business sector that is well positioned for continued growth," says Richard Nesbitt, Chairman and Chief Executive Officer with CIBC's wholesale banking division. "We want to be a part of this future by helping Quebec-based business access the capital they need to grow and thrive."

The new corporate lending office will be headed up by Charles St-Germain, who was named Managing Director and Head of Corporate Credit Products for Quebec. He will report to Jean Raymond, who was recently named Vice-Chairman and Head of Wholesale Banking for Quebec and Laura Dottori-Attanasio, Managing Director and Global Head, Corporate Credit Products.

"Quebec is an important and growing market for CIBC," says Mr. Raymond. "Having an on-the-ground credit presence led by Charles, one of Quebec's most respected bankers, brings us closer to the people and issues driving business in the province. We will work hand-in-hand with our clients to grow their businesses."