CIBC Taps Ex-Ambassador to US as Adviser at ‘Pivotal Moment’

Canadian Imperial Bank of Commerce appointed David MacNaughton, who was Canada’s ambassador to the US during the first administration of President Donald Trump, as a strategic adviser as the bank’s clients brace for another complex year.

Canada’s fifth-largest lender said in a statement Monday that MacNaughton has joined the firm’s recently created office of the chief executive officer, which also includes Mark Mulroney, son of former Canadian Prime Minister Brian Mulroney who died in 2024. CIBC recruited Mulroney from rival Bank of Nova Scotia last year.