Canadian Imperial Bank of Commerce (CIBC) made several new hires for its capital markets teams in New York and Hong Kong and corporate credit group in New York. The Canadian bank is expanding as American and European banks pull back.
Kenny Chan will join the bank as a director with the Financial Solutions Group (FSG), a sales team within capital markets that offers products to institutional clients. He will focus on foreign exchange sales and be based in Hong Kong. Chan joins from Standard Chartered.
For the capital markets team in New York, CIBC hired:
Blair Bajktari from Scotia Capital. Bajraktari will join as head of equity derivative sales for the FSG,
Peter O'Grady from Barclays Capital. He joins as a director in the FSG and will focus on investment grade fixed income sales.
Charles Trunz from Scotia Capital. He joins as a director in the FSG focusing on high yield fixed income sales.
David Duong from Jefferies. He joins as a high yield analyst and will report to Craig Wilson, head of North American high yield trading.
On the corporate credit side, Rob Mustard joins from Scotia Capital as head, corporate credit products, U.S. region. He will report to Laura Dottori-Attanasio, global head, corporate credit products and be based in New York.
CIBC has been poaching American talent since the financial crisis and intends to continue pursuing that strategy.
Earlier this summer, CIBC appointed Marc St-Onge as head of corporate credit products, Canada and Stephen Redding as head of European corporate credit products. All three hires point to CIBC's intentions to expand corporate credit product banking globally.
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