CIBC completed a minority investment in Loop Capital, a Chicago headquartered financial services firm providing investment banking, brokerage, asset management and wealth management services to corporations, municipalities, hospitals, universities, institutional investors and high net worth individuals. Loop Capital has offices in 20 U.S. cities and more than 175 team members globally.
CIBC’s investment in Loop Capital is meant to enable greater collaboration on future client activity in areas such as capital markets and wealth management. Financial terms of the investment were not disclosed.
“We are excited to partner with Loop Capital to further expand in key client segments and markets in the U.S.,” Harry Culham, senior executive vice president and group head of capital markets at CIBC, said. “With the combination of Loop Capital’s deep client relationships in the U.S. and the strength of our resources and capabilities, we see this as a mutually beneficial transaction which enables us to accelerate the growth of our North American platform while collaborating to deliver a full suite of financial services solutions to clients.”
Following the acquisition of The PrivateBank in 2017, CIBC has invested in acquisitions with firms such as Cleary Gull, Lowenhaupt Global Advisors and Geneva Advisors.
“We have worked closely with the team at CIBC for many years, and this is a great opportunity to continue to pursue mutually beneficial growth opportunities for our respective platforms,” Jim Reynolds, chairman and CEO of Loop Capital, said. “Further, CIBC and Loop have cultural alignment and share a keen focus on serving clients that will allow us to continue to garner growth.”
Vault ranked Loop Capital Markets first in the categories of Best Banking Firms for Diversity and Best Banking Firms for Women in April.
