Canadian Imperial Bank of Commerce (CIBC) has appointed Jon Hountal and Christina Kramer as new heads of wealth management and personal and small business banking, respectively, in Canada.
Hountalas will replace Steve Geist, who will leave at the end of the year. He will take up responsibility for managing CIBC Asset Management, CIBC Wood Gundy and CIBC Private Wealth Management.
Apart from the new role, Hountalas will continue to head the commercial banking unit, the bank said in its press statement.
Hountalas will report to CIBC president and CEO Victor Dodig and will also join the group’s executive committee.
Kramer in her new role will be responsible for retail distribution, CIBC imperial service, small business, mobile advice and CIBC investor’s edge teams, as well as personal and small business banking products.
She will succeed David Williamson, who will depart from the bank in the first quarter of 2018.
The firm also appointed PrivateBancorp CEO Larry Richman as the new group head of the US region following completion of PrivateBancorp acquisition.
“At a time when we are positioning our bank to embed a client-first culture into our DNA, execute our strategy and deliver growth for our shareholders, these changes are a natural next step that will build on the clear momentum we have established and provide opportunities to develop our next generation of senior leaders,” Dodig said.