Bank's workplace transformation underway with building to be completed by late 2020

TORONTO, Jan. 8, 2020 /CNW/ - Today, representatives from CIBC, EllisDon, Ivanhoé Cambridge and Hines raised a ceremonial last steel beam at 81 Bay Street. The event marks the final phase of construction for the first of two office buildings that will become CIBC SQUARE, a landmark commercial campus in the heart of downtown Toronto.

With the first building scheduled to be completed by late 2020, the project is jointly managed and developed by Ivanhoé Cambridge and Hines, and will serve as CIBC's new global headquarters. Upon completion, CIBC SQUARE will be home to approximately 14,000 CIBC team members.

"We're excited to mark this milestone as we prepare for the opening of our new global headquarters later this year," said Veni Iozzo, Executive Vice-President, Communications, Public Affairs and Workplace Transformation. "CIBC SQUARE is a cornerstone of our global workplace transformation as we create a modern and inclusive work environment that fosters collaboration, innovation and wellbeing for our team. Our new home puts our clients at the centre of all that we do as we help make their ambitions a reality."

Once completed, CIBC SQUARE will be a state-of-the-art, 3 million-square-foot campus comprised of two buildings connected by a one-acre park in Toronto's financial district. CIBC's headquarters will be tech-enabled and designed to facilitate collaboration and innovation. As part of the design, inclusivity and wellbeing have been prioritized to provide a welcoming, flexible and productive work environment. CIBC SQUARE will also feature a new flagship banking centre to serve clients in the community.

About CIBC

CIBC is a leading Canadian-based global financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Small Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.

SOURCE CIBC