CIBC Wealth Management

CIBC Private wealth is the brokerage division of the Canadian Imperial Bank of Commerce (CIBC).

CIBC Private Wealth

Formerly	Wood Gundy, CIBC Wealth Management
Company type	Subsidiary
Industry	Financial services
Headquarters	Toronto , Canada
Products	Wealth management
Parent	Canadian Imperial Bank of Commerce (CIBC)
Website	www.cibc.com/en/private-wealth.html

CIBC prefers to use phrases like "wealth-building" and "wealth management" to describe its investment services. Like most banks, their financial products include stocks, bonds, mutual funds, managed portfolios, guaranteed investments, and credit. And like most retail businesses, they give free advice to their customers on what to buy.^[1]

History

In 2003, the division was called CIBC Wealth Management and managed $193 billion in client assets and made $205 million of profit.

Until 2014, Wealth Management was headed by Gerald T. McCaughey, Chairman and Chief Executive Officer, CIBC World Markets and Vice Chair for Wealth Management. On July 31, 2014, CIBC announced the appointment of Victor Dodig as President and CEO which took effect on September 15, 2014.^[2]

This division was once called Wood Gundy and was once the biggest performing unit for CIBC.