CIBC World Markets, is the investment banking division of the Canadian Imperial Bank of Commerce. It helps large companies, governments, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. Investment banks assist public and private corporations in raising funds in the capital markets (both equity and debt), as well as in providing strategic advisory services for mergers, acquisitions and other types of financial transactions. ... The Canadian Imperial Bank of Commerce TSX: CM NYSE: BCM, better known to most customers as CIBC, is one of Canadas major banks. ... Primary dealers are banks or brokerage firms who may trade directly with the Federal Reserve System. ...
Wood, Gundy and Company was established in Toronto in 1905 by George Herbert Wood and James Henry Gundy. Their company later became Wood Gundy Inc, and finally merged with CIBC Securities in 1987. In 1988 the investment dealer took the name CIBC Wood Gundy. CIBC in the U.S. investment banking industry acquired the brokerage house Oppenheimer & Co. changing the newly acquired company to CIBC Oppenheimer in 1997. In 2003 they sold a division 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. According to their website, CIBC Wood Gundy is now a division of CIBC World Markets Inc. Wood Gundy Inc. ... CIBC Wood Gundy was created in 1988 with the purchase of Wood Gundy Inc by CIBC. CIBC Wood Gundy is a division of CIBC World Markets. ...
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.
CIBCWorldMarkets, is the Investment banking division of the Canadian Imperial Bank of Commerce.
CIBC in the U.S. investment banking industry acquired the brokerage house Oppenheimer and Co. changing the newly acquired company to CIBC Oppenheimer in 1997.
CIBCWorldMarkets is headed by Brian Shaw, Chairman and Chief Executive Officer of CIBCWorldMarkets.
CIBC is a member of the Canadian Bankers Association (CBA) and registered member with the Canada Deposit Insurance Corporation (CDIC), a federal agency insuring deposits at all of Canada's chartered banks.
CIBC announced a US$2.4 billion payout agreement in principle to settle the Enron class action litigation on behalf of Enron security purchasers on August 2005, but this led to a drop in share prices and outcry from the bank's shareholders.
CIBC National Bank was established in the U.S. in 1999, but opened an foreign exchange office in New York in 1875 (Canadian Bank of Commerce), London in 1901 and in Asia (Hong Kong) in 1970.
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