Revenue drops at CIBC World Markets
CIBC today reported a big increase in fourth quarter profit, and announced plans to cut 900 jobs.Net income was $728 million, or $2.06 per share, in the quarter ended Oct. 31, up sharply from $402 million, or $1.06 per share, in the year-before period.A year ago, the bank’s profit was hurt by a provision taken […]
CIBC and CIBC Asset Management are launching CIBC Asset Management FULPAY DARTS Deposit Notes, Series 1.The principal-protected notes aim to provide 100% principal protection and investment returns that are linked to the performance of a notional portfolio of assets dynamically allocated over between an equity account and a bond account.The equity account will initially be […]
Insurance officers exit bank
CC&L, TAL Global and Wellington will start immediately
Revenue up 12%
Departures include three senior vice presidents
Bank agrees to pay US$250 to settle claims
S&P downgrades bank’s outlook to negative
No admission of wrongdoing