CIBC WORLD MARKETS

'CIBC World Markets' is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities.

Contents

History

Structure

Operations

Executive

See also

History

Wood, Gundy and Company was established in Toronto in 1905 by George Herbert Wood and James Henry Gundy. Their company later merged with CIBC Securities in 1987. In 1988 the investment dealer took the name CIBC Wood Gundy. In the U.S. CIBC acquired the brokerage house Oppenheimer & Co. changing the newly acquired company to CIBC Oppenheimer in 1997. In 2003 they sold a asset management division along with retail brokerage of CIBC to Fahnestock along with the Oppenheimer name. Upon doing so CIBC Woody Gundy (in Canada) and CIBC Oppenheimer (in US) became jointly known as CIBC World Markets in 1997. The Wood Gundy nomenclature lives on today as the retail brokerage division of CIBC World Markets Inc., however only operates in Canada; the US lacks a retail brokerage arm.

Structure

★ Full capital solutions for growth-oriented companies and all capital markets

★ Advisory expertise across a wide range of industries

★ Equity and debt research

Operations

Besides Canada, World Markets has offices worldwide:

★ US

★ Asia

★ Europe
This division lost $71 million in 2003.

Executive

CIBC World Markets is headed by Brian Shaw, Chairman and Chief Executive Officer of CIBC World Markets. Shaw assumed this position in December, 2004. His previous position was deputy chairman and head of Global Equities and Commodity Products.

See also

★ Wood Gundy Inc.