CIBC Hires Ex-UBS Executive Rasmussen for Ontario Branch

Canadian Imperial Bank of Commerce hired former UBS AG (UBSN) executive Grant Rasmussen to help oversee the lender’s retail bank branch network in Ontario.

Rasmussen joined March 5 in the new position of region head, Ontario for CIBC retail distribution, Kevin Dove, a spokesman for the Toronto-based firm, said today. CIBC’s Ontario region extends from Windsor to Ottawa to just south of North Bay and excludes Toronto, where he will be based.

Rasmussen previously worked at UBS Canada’s wealth- management unit as president and chief executive officer, and as a former CEO of Royal Bank of Canada’s RBC Direct Investing business.

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

To contact the editors responsible for this story: David Scheer at dscheer@bloomberg.net; David Scanlan at dscanlan@bloomberg.net

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