CIBC Outlines Plans To Build Forex Beyond Its Canadian Dollar Franchise
BANKS
In a move contrary to those of most of its Canadian rivals, Canadian Imperial Bank of Commerce (CIBC) is increasing its presence in New York as part of an overall expansion in foreign exchange. A new five-year plan that will combine the corporate activities of CIBC with its investment banking subsidiary Wood Gundy (which oversees CIBC's treasury operations), calls for Steve Bennett, senior vice president in charge of global FX and money markets for the bank, to move from CIBC's Toronto head
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