As part of a slew of senior executive appointments, CIBC named Hratch Panossian senior executive vice president and head of personal and business banking, while Robert Sedran will assume the role of senior executive vice president and CFO and join the bank’s executive committee. These changes will take effect on April 1.
“Across our bank, we have a highly connected team that is acting with purpose to make ambitions a reality as we execute our client-focused strategy,” Victor Dodig, president and CEO of CIBC, said. “This has been a cornerstone of our success and the leadership changes we are announcing today further reinforce our connected culture as we continue to build on our momentum and create sustainable value for all our stakeholders. Each of these leaders bring exceptional leadership, proven capabilities and a clear focus on bringing the best of our bank to our clients. I’m looking forward to working with our executive committee and our entire team as we go forward.”
Panossian will be jointly accountable to Dodig and Jon Hountalas, senior executive vice president and group head of Canadian banking, and will continue on the bank’s executive committee. Panossian has been a part of CIBC’s leadership team since joining the bank in 2011, most recently as CFO leading the bank’s finance, treasury and enterprise strategy and corporate development teams.
“Hratch’s expertise in financial services, background in technology and innovation, and commitment to building long-lasting client and team relationships position him well to take on his new role. His recent leadership of our strategic growth plans will also serve him well as we continue to focus on providing our clients with a modern and exceptional client experience,” Dodig said.
Sedran has most recently served as CIBC’s treasurer and has held progressively more senior roles over the course of his more than 20-year career in financial services, including previously leading enterprise strategy and corporate development as well as equity research in capital markets at CIBC.
“Robert brings a deep understanding of the banking sector and finance and a strategic perspective. He has been a respected strategic advisor over the course of his career and will be an exceptional addition to our executive committee,” Dodig said.
In addition to new roles for Panossian and Sedran, CIBC announced that Harry Culham, senior executive vice president and group head of capital markets and direct financial services, will continue in his current role and will take on expanded accountability for enterprise strategy and corporate development, as well as the bank’s strategic client office. Culham joined CIBC in 2008 and held roles in capital markets before assuming its leadership and more recently adding accountability for direct financial services as well as overseeing CIBC’s operations in the Caribbean and CIBC Mellon.
“Under Harry’s leadership, our capital markets and direct financial services business has consistently performed well, enabled by our team’s strong focus on our clients. Harry’s leadership of our enterprise strategy and strategic client relationships will be a tremendous asset as we continue to build on our momentum,” Dodig said.
Shawn Beber, who was appointed senior executive vice president and group head for the U.S. region and president and CEO of CIBC Bank USA in 2022, will continue in his current role.
“Shawn has done an excellent job in repositioning and pivoting our U.S. business under very challenging market conditions. The U.S. region remains a strategically important growth area for CIBC, and Shawn’s continued leadership will be critical in building further momentum moving forward,” Dodig said
Also continuing in their current roles on CIBC’s executive committee are: Frank Guse, senior executive vice president and chief risk officer; Christina Kramer, senior executive vice president and group head of technology, infrastructure and innovation; Kikelomo Lawal, executive vice president and chief legal officer; and Sandy Sharman, senior executive vice president and group head of people, culture and brand.
“CIBC’s leadership team is a key driver of the bank’s success,” Dodig said. “These appointments serve to support the execution of our client-focused strategy and are another example of how we’re reinforcing our connected culture and team, leveraging and further strengthening the capabilities of our leaders to position our bank for the long term.”
