CIBC Gives Baxendale, Nesbitt Added Roles as Lalonde Prepares to Retire

Canadian Imperial Bank of Commerce senior executives Sonia Baxendale and Richard Nesbitt will be adding new responsibilities as Ron Lalonde retires as head of technology and operations.

Baxendale, who heads CIBC’s consumer bank, will have increased oversight of the lender’s FirstCaribbean bank, according to an April 9 internal memo. Nesbitt, 54, who heads the CIBC World Markets investment bank, will oversee technology and operations, as well as corporate development.

Lalonde hands over responsibilities starting May 1 as he prepares to retire. Lalonde will stay on until Dec. 31 to help wrap up the structured credit business, the Toronto-based bank said.

To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.net

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