CIBC announced senior leadership appointments to support the bank's continued execution of its client-focused strategy, deepen its leadership capabilities and enable continued business momentum. The following leadership changes are effective April 1, 2024. Under Jon Hountalas' leadership as Senior Executive Vice-President (SEVP) and Group Head, Canadian Banking, the company?s Canadian Banking business has made strong progress in attracting new clients to bank, enhancing client experience and delivering growth.

To further build on this momentum, Hratch Panossian will become SEVP and Head of Personal and Business Banking, with joint accountability to Mr. Dodig and Mr. Hountalas, and will continue on the bank's Executive Committee. Mr. Panossian has been a key part of CIBC's leadership team since joining the bank in 2011, most recently as Chief Financial Officer leading the bank's Finance, Treasury and Enterprise Strategy and Corporate Development teams, in addition to broad experience from the financial services and technology sectors before joining bank. Harry Culham, SEVP and Group Head, Capital Markets and Direct Financial Services, continues in his current role and will take on expanded accountability for Enterprise Strategy and Corporate Development, as well as the bank's Strategic Client Office.

Mr. Culham joined CIBC in 2008, holding key roles in Capital Markets before assuming its leadership, more recently adding accountability for Direct Financial Services, as well as overseeing CIBC's operations in the Caribbean and CIBC Mellon. Shawn Beber who was appointed SEVP and Group Head, U.S. Region and President and CEO, CIBC Bank USA, in 2022, will continue in his current role, providing strong leadership of U.S. Region. Robert Sedran will assume the role of SEVP and Chief Financial Officer and join the bank's Executive Committee.

Mr. Sedran has most recently served as CIBC's Treasurer, and he has held progressively more senior roles over the course of his more than 20-year career in financial services, including previously leading Enterprise Strategy and Corporate Development, as well as Equity Research in Capital Markets. Also continuing in their current roles on CIBC's Executive Committee are: Frank Guse, SEVP and Chief Risk Officer; Christina Kramer, SEVP and Group Head, Technology, Infrastructure and Innovation; Kikelomo Lawal, Executive Vice-President and Chief Legal Officer; and Sandy Sharman, SEVP and Group Head, People, Culture and Brand.