Assante Corp. has appointed former CIBC president Holger Kluge to its board of directors.

Kluge was formerly president of Personal and Commercial Bank for the bank. He was also in the running for the CEO’s job, a battle he lost to current CEO, John Hunkin. Kluge replaces retiring director David Booth, chairman and chief executive officer of Dimensional Fund Advisors Inc.

“I am very pleased to welcome a new director with such strong skills in finance and corporate governance, and such an impressive range of board experience,” said Martin Weinberg, chairman of the board, president and CEO. “This knowledge will be valuable as the board guides Assante through continued expansion in both the U.S. and Canada.”

Also on the board are: Michael Nairne, vice-chairman of the board and president of Nairne & Associates; William McNally, president of Woodmount Capital Corp. and former president and CEO of QUNO Corp.; Gregory Milavsky, managing director and group head of e-Scotia Acquisition Inc.; Morris Perlis, president of Morris Perlis & Associates and former president and general manager of American Express Canada Inc.; and Mickey Segal, president of Assante Business Management.