TORONTO, Nov. 4 /CNW/ - CIBC (CM: TSX; NYSE) is pleased to announce the appointment of Jim Prentice, P.C. Q.C. as Vice Chairman of the bank and a member of CIBC's Senior Executive Team. The appointment is effective Jan. 1, 2011.

"Jim Prentice is a proven leader with strong relationships in the corporate sector and immense public policy expertise," said Gerry McCaughey, President and CEO of CIBC. "He will play an important role as we continue to build CIBC's leading position in the Canadian marketplace. We are very pleased that he will be joining our team."

Reporting to Mr. McCaughey, Mr. Prentice will be responsible for expanding CIBC's relationships with corporate clients across Canada and abroad, and with providing leadership to CIBC on public policy issues that affect the bank and its clients.

"I very much look forward to joining CIBC in the New Year and working as part of the senior executive team to achieve the bank's strategic objectives," said Mr. Prentice.

Mr. Prentice most recently served as Canada's Minister of the Environment. After serving as Minister of Indian Affairs and Northern Development, Mr. Prentice served as Minister of Industry.

Jim Prentice has chaired the Operations Committee of Cabinet since the election of the Conservative Government in 2006.  He has also served on the Priorities & Planning Committee of Cabinet since that time and has chaired or been a member of the Environment and Energy Security Cabinet Committee since 2007.

Jim Prentice was first elected to the House of Commons in 2004 and re-elected in 2006 and 2008. He graduated from the University of Alberta and Dalhousie Law School. As a practicing lawyer, Mr. Prentice specialized in property rights and also served as a commissioner of the Indian Specific Claims Commission for ten years. Mr. Prentice has lived in Calgary for over 25 years with his wife Karen and their three daughters.

CIBC is a leading North American financial institution with nearly 11 million personal banking and business clients. 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.