CIBC Names Nesbitt Chief Operating Officer, Woods Vice Chairman

June 11 (Bloomberg) -- Canadian Imperial Bank of Commerce, the country’s fifth-biggest bank, named Richard Nesbitt chief operating officer, effective immediately.

Nesbitt’s responsibilities remain unchanged, the Toronto-based bank said today in a statement. Nesbitt, 57, previously held the title of senior executive vice-president and group head of wholesale, international, and technology and operations. He joined CIBC in 2008.

“The title is in recognition of the leadership role Richard has been playing at CIBC over the past two years and increased responsibilities he was given during that time,” Chief Executive Officer Gerald McCaughey said in the statement.

CIBC also said in a separate statement that Tom Woods has been named vice chairman, and Laura Dottori-Attanasio replaces him as chief risk officer.

The bank’s board on May 30 renewed McCaughey’s contract for another four years, CIBC said in a regulatory filing.

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