Watch Live


CIBC Hires Canadian Environment Minister Jim Prentice as Vice Chairman

Canadian Environment Minister Jim Prentice is stepping down at the end of the year to become a vice chairman at Canadian Imperial Bank of Commerce.

Prentice said he accepted a position at Canada’s fifth- largest lender as a senior executive vice president starting Jan. 1, ending his nine-year career in federal politics.

“Jim Prentice is a proven leader with strong relationships in the corporate sector and immense public policy expertise,” CIBC Chief Executive Officer Gerry McCaughey said today in a statement.

Prentice, 54, will be responsible for expanding CIBC’s relationships with corporate clients across Canada and abroad, the Toronto-based bank said.

House Leader John Baird will be acting environment minister, according to Andrew MacDougall, spokesman for the prime minister’s office. Prentice is a member of Parliament for a Calgary district.

To contact the editor responsible for this story: David Scanlan at

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.