CIBC today announced three appointments and two departures at its senior executive team team.

Tom Woods, currently chief financial officer of CIBC, becomes Chief Risk Officer, effective immediately.

David Williamson, formerly president and CEO of Atlas Cold Storage and CFO of Clarica Life Insurance, will be joining CIBC as chief financial officer, effective January 10.

Richard Nesbitt, CEO of the TSX Group from 2004 to 2007, will be joining CIBC as CEO of CIBC World Markets, effective February 29.

Nesbitt’s departure from TSX Group comes after the December announcement of a proposed merger between TSX Group and Montreal Exchange Inc.

In addition to these organizational changes, CIBC also announced today that Brian Shaw, CEO of CIBC World Markets, and Ken Kilgour, chief risk officer, will be leaving CIBC.

“We are pleased to have Tom Woods leading our Risk function. Tom is a seasoned professional with deep knowledge and understanding of our risk profile and our strategy of consistent and sustainable growth,” stated Gerry McCaughey, president and CEO of CIBC.

“Richard Nesbitt and David Williamson are talented and respected executives who share CIBC’s vision of creating shareholder value by delivering consistent, solid and sustainable growth over time. We are pleased that they will be joining CIBC,” McCaughey added.

Separately, CIBC announced today that it will nominate Nick Le Pan and Bob Steacy for election as members of its board of directors at the company’s annual General Meeting on February 28.

Bill Etherington, chairman of the board of CIBC, stated: “We are very pleased to be nominating these two outstanding individuals to the CIBC Board of Directors.

Nick Le Pan brings an unparalleled understanding of the international banking system, financial markets and risk management. Bob Steacy is a seasoned financial professional with a reputation for diligence and integrity.”

Le Pan served as Superintendent of Financial Institutions for Canada from 2001 to 2006 and as Deputy Superintendent, Office of the Superintendent of Financial Institutions, Canada (OSFI) from May 2000.

Steacy is a retired chief financial officer of Torstar Corp.