Commitments include $3,000,000 for Montreal hospitals; $500,000 to Concordia's John Molson School of Business; and $400,000 to Montreal Museum of Fine Arts
MONTREAL, Feb. 25 /CNW/ - CIBC (CM: TSX;NYSE) is proud to announce three multi-year financial commitments totaling nearly $4 million towards the MUHC and CHUM Montreal hospital campaigns, the John Molson School of Business at Concordia University, and the Montreal Museum of Fine Arts.
"At CIBC, we believe in making a difference where we live and work by supporting causes that matter to our clients, employees and our communities," said Gerry McCaughey, President and Chief Executive Officer of CIBC, which is hosting its Annual Meeting of Shareholders today in Montreal. "We invest in the social and economic development of communities all across Canada. With close to 3,300 employees working in Montreal, we are pleased to announce these commitments that will fund improved health care services in Montreal, help young people access higher education, and support one of Canada's top museums of fine arts."
CIBC is contributing $3,000,000 to the joint corporate campaign of the McGill University Health Centre (MUHC) and the Centre hospitalier de l'Université de Montréal (CHUM). This campaign supports the construction and equipping of modern facilities for Montreal's two university teaching hospitals. Prior to announcing this commitment, CIBC had donated more than $2.4 million to hospitals in Montreal.
CIBC's commitment of $500,000 to Concordia University's John Molson School of Business will fund CIBC Undergraduate Entrance Bursaries to full-time students in financial need. CIBC's pledge will also go towards CIBC Doctoral Business Fellowships for students entering the PhD program in Accountancy, Decision Sciences and Management of Information Systems, Finance, Management, and Marketing.
CIBC has also dedicated $400,000 to the Montreal Museum of Fine Arts for the capital campaign launched at the museum's 150th anniversary celebration. The funds will go towards several major projects, including a new pavilion of Canadian art, education and research programs, and capital requirements.
CIBC is committed to supporting causes that matter to our clients, our employees and our communities. We aim to make a difference in communities through corporate donations, sponsorships and the volunteer spirit of employees. With a strategic focus on youth, education and health, and employee commitment to causes including the Canadian Breast Cancer Foundation CIBC Run for the Cure, the CIBC Children's Foundation and United Way, we are investing in the social and economic development of communities across the country. In 2009, $26.8 million was contributed through the CIBC group of companies to charitable and non-profit initiatives in Canada, supporting a wide variety of national, regional and local organizations. To learn more, visit www.communitymatters.cibc.com.
