Also named one of the top employers in Greater Toronto

TORONTO, Nov. 17, 2011 /CNW/ - CIBC (TSX: CM; NYSE: CM) has been selected as one of Canada's 10 Most Admired Corporate Cultures by Waterstone Human Capital, a leading recruitment and human resources firm.

As one of Canada's Most Admired Corporate Cultures for 2011, CIBC was chosen for promoting a culture that has helped to enhance performance and sustain a competitive advantage.

In making its selection, Waterstone noted that in 2010 CIBC's average shareholder return led the major Canadian banks and its return on equity was the strongest of any major bank in the developed world.

Waterstone said that CIBC's Employee Commitment Index, as measured by its annual Employee Survey, increased for the sixth consecutive year in 2010, reaching its highest level since the index was introduced in 1998. In addition, Waterstone stated that CIBC's commitment to corporate social responsibility is integrated into its operations, business practices, and corporate culture.

Waterstone's Chairman and CEO Marty Parker said the award "recognizes the importance of great workplaces, but more importantly - great workplaces where culture impacts performance. Culture is a strategic competitive advantage - we are convinced it is the single greatest asset an organization can have."

CIBC has also been named as one of Greater Toronto's Top Employers by Mediacorp, Canada's largest publisher of quality employment periodicals.

Mediacorp cited the bank's leadership in offering an exceptional place to work for its more than 19,000 employees in the Toronto area. CIBC was recognized for providing employees with parental leave top-up payments and benefits coverage during leaves, along with its employee referral and employee share purchase programs.

Mediacorp's annual review of Greater Toronto's Top Employers is organized by the editors of Canada's Top 100 Employers.

"We are very pleased to receive these awards," said CIBC President and CEO Gerry McCaughey. "They reflect CIBC's strong focus on developing a supportive, high-performing culture where our employees can excel and where we can continue to deliver consistent and sustainable performance."

About CIBC
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, and has offices 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.