Further extends CIBC's wealth management business and deepens family office expertise

CHICAGO, Sept. 3, 2019 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced today that Lowenhaupt Global Advisors (LGA), a leading family office in St. Louis and New York, has joined CIBC Private Wealth Management. The combination of these talented teams further builds on our bank's ability to address the complex needs of ultra-high net worth, multi-generational families in the U.S.

"We are committed to being the premier private wealth management firm in North America, as we help our clients realize their ambitions for their wealth, both today and for generations to come," said Jack Markwalter, Chairman & CEO, CIBC Private Wealth Management, U.S. "Through our long-standing relationship with  Lowenhaupt Global Advisors, we have provided investment management expertise for their clients for many years. We are pleased to deepen our family office expertise as we welcome LGA's clients and strong team to our firm."

LGA has a 110-year history of helping families of substantial wealth build, preserve and control their assets. The Lowenhaupt team provides sophisticated, independent advice on family wealth transfer, taxation, estate planning and probate, investment portfolio allocation and business structuring.

"We have a long history of working with the CIBC Private Wealth team and appreciate the world-class investment platform they provide to our clients," said Chris Quinn, president of Lowenhaupt Global Advisors. "We are excited to join CIBC Private Wealth and look forward to continuing to enhance our capabilities as we serve family office clients."

The agreement to join Lowenhaupt Global Advisors with CIBC Private Wealth Management closed on September 1. Terms were not disclosed. Lowenhaupt & Chasnoff, LLC remains independent. 

About CIBC

CIBC (NYSE: CM) (TSX: CM) is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, solutions and services in the United States, across Canada and around the world. In the U.S., CIBC Bank USA provides commercial banking, private and personal banking and small business banking solutions and CIBC Private Wealth Management offers investment management, wealth strategies and legacy planning. Visit us at cibc.com/US.

Disclosure

Private banking is offered by CIBC Bank USA, Member FDIC and Equal Housing Lender. CIBC Bank USA and CIBC Private Wealth Group, LLC are both indirect, wholly owned subsidiaries of CIBC. The CIBC logo is a registered trademark of CIBC, used under license. Investment Products Offered are Not FDIC-Insured, May Lose Value and are Not Bank Guaranteed.

SOURCE CIBC