CIBC World Markets says that it is once again making markets in Nasdaq-listed securities for its institutional customers.
The firm reports that operations have been reestablished at its offices in midtown Manhattan. “We’re grateful for the support of our institutional customers during this tragic period,” says Michael Pallazzi, co-head of over-the-counter trading for CIBC World Markets. “We’ve made accommodations and we look forward to continuing our relationships with all of them.”
In an open letter to staff and clients, CIBC CEO John Hunkin says, “It has been one week since the horror of last Tuesday, an event that has stretched all of us in directions unimaginable. If there is one thing that I have learned as the leader of this 41,000 person organization, it is that you are only as good as your people, which makes me very fortunate indeed, as our people have been absolutely magnificent. Our efforts to ensure that all of CIBC’s New York based employees are safe have continued without abatement. It has been our highest priority.”
Hunkin notes that the firm has made remarkable progress in its business recovery, although many employees now have new contact information.
Hunkin closes his letter with an appeal to, “please join me in an expression of utmost gratitude, admiration, and appreciation for the bravery of the New York City fire, police, and emergency personnel.”