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Toronto, Ont.-based CIBC Mellon has named Karen Rowe as the company’s new chief financial officer (CFO), the firm announced on Wednesday.

Rowe will assume responsibility for all of the firm’s CFO duties, including financial planning and analysis, accounting, corporate taxation and financial reporting.

Previously, Rowe was with Canadian Pension Plan Investment Board as managing director, head of investment finance. Prior to that, she held senior-level roles with Canadian Imperial Bank of Commerce (CIBC), including the role of vice president of finance for CIBC World Markets.

“Karen is a welcome addition to the company and she brings a deep understanding of the financial services industry, particularly in the area of Canadian pensions and private markets,” says Steven Wolff, president and CEO of CIBC Mellon, in a statement.

“CIBC Mellon is a well-regarded by institutional investors as Canada’s leader in asset servicing, and I am proud to join the company and support its financial management,” Rowe says, in a statement.

Rowe replaces Duncan Webb who has announced his retirement.