Canadian Imperial Bank of Commerce - Introduction

Introduction

Commerce Court
Toronto, Ontario M5L 1A2
Canada
Telephone: (416) 980-2211
Fax: (416) 980-5026
Web site: http://www.cibc.com

Public Company
Incorporated: 1961
Employees: 36,630
Total Assets: C$277.15 billion (US$210.04 billion) (2003)
Stock Exchanges: Toronto New York
Ticker Symbols: CM; BCM
NAIC: 551111 Offices of Bank Holding Companies; 522110 Commercial Banking; 522210 Credit Card Issuing; 522292 Real Estate Credit; 523110 Investment Banking and Securities Dealing; 523120 Securities Brokerage; 523130 Commodity Contracts Dealing; 523920 Portfolio Management; 523930 Investment Advice; 523991 Trust, Fiduciary, and Custody Activities; 525910 Open-End Investment Funds

The Canadian Imperial Bank of Commerce (CIBC) is Canada's third largest bank, trailing only Royal Bank of Canada and Bank of Nova Scotia. Based in Toronto, CIBC functions through three main operating units: CIBC Retail Markets, CIBC Wealth Management, and CIBC World Markets. CIBC Retail Markets serves more than nine million individual customers and nearly 470,000 small business customers in Canada through a network of about 1,100 branches and more than 4,400 automatic bank machines (ABMs), as well as four telephone banking centers and an Internet banking channel. The principal financial services offered by this unit include personal banking, small business banking, credit cards, and mortgages. CIBC Wealth Management maintains a network of 2,500 investment advisors responsible for C$193 billion in client assets under administration. The unit's services include investment advice, full-service and online discount brokerages, private banking, and trust services, and its three families of mutual funds—Renaissance, Talvest, and CIBC—make the bank the number four mutual fund provider in Canada, managing more than C$36 billion in assets. CIBC World Markets is a major investment bank operating throughout Canada and the United States, with a more modest presence in the United Kingdom and Asia. CIBC was formed through a 1961 merger between the Imperial Bank of Canada, which was founded in 1875, and the Canadian Bank of Commerce, which traces its origins back to 1867.