CIBC said today it has completed its previously announced agreement to sell to Oppenheimer Holdings Inc., its U.S. domestic investment banking, equities, leveraged finance and related debt capital markets businesses.

The closing also includes CIBC’s Israeli investment banking and equities business.

The sale also includes certain parts of CIBC World Markets’ U.S. capital markets-related businesses located in the UK and Asia. These are expected to occur at a later date, subject to regulatory approval.

CIBC is retaining its other U.S. wholesale businesses, which include real estate finance, equity and commodity structured products, merchant banking and oil and gas advisory, as well as the balance of its U.S. debt capital markets, Asia and U.K businesses.

CIBC said it will also maintain its corporate lending capability and its ability to distribute Canadian equities and fixed income products in the U.S. and international markets on behalf of its Canadian clients.

As previously announced, the sale will not have a material impact on CIBC’s earnings per share or Tier 1 capital ratio.