Partners in History, Navigators of Opportunity
The Imperial Bank of Canada, one of CIBC’s two founding institutions, was the first chartered bank to open in Calgary in 1886 and then in Edmonton five years later. The bank served the financial needs of citizens and enterprises of both cities and surrounding regions for 50 years.
The Chamber sought to support the northern mines with supplies and manpower. CIBC, already able to draw on decades of mining industry experience elsewhere, contributed much needed capital and financial advisory services.
By 1950 CIBC was the first Canadian bank to create a petroleum department, based in Calgary, which specialized in the oil and natural gas industry. CIBC’s Petroleum Department was staffed by “banker-geologists” who provided first-hand, knowledge-based advisory services to Canadian companies and to U.S. businesses on how to enter Alberta’s emerging oil industry. The department’s booklet, For Oil and Allied Industries, became an industry standard.
Today CIBC is a leading Canadian-based financial institution comprising two major businesses: CIBC Retail Markets which includes CIBC’s personal banking, business banking and wealth management businesses; and Wholesale Banking which serves corporate, government and institutional clients globally. CIBC has almost 11 million clients around the world, a market capitalization of $30.7 billion, 1,100 branches across Canada and more than 42,000 employees worldwide as at fiscal year end Oct. 31, 2010.
The CIBC banker-geologist one-on-one-style of service persists in the form of experienced and dedicated professionals whose expertise spans more than a dozen key sectors: mining, oil and gas, power and utilities, paper and forest products, financial institutions, government and infrastructure finance, healthcare, consumer and business services, real estate, technology, media and telecom. CIBC’s wholesale banking teams work in Calgary and key financial centres globally, delivering a range of integrated credit and capital markets products, merchant banking, advisory expertise and top-ranked research for corporate, government and institutional clients.
Notably, CIBC is a top mergers and acquisitions dealmaker in Canada, and a leader in equity and debt underwriting, equity trading, syndicated loans, and retail structured products.
CIBC is one of ACR’s longest serving members and is active on the Chamber’s executive board (ACR’s Treasurer role has been voluntarily performed by CIBC representatives for several decades). Please visit the CIBC website www.cibc.com