Canadian Imperial Bank of Commerce President and CEO Victor Dodig announced senior leadership appointments to further the bank's client-focused strategy. The following leadership changes are effective November 1, 2022:Mike Capatides, Senior Executive Vice-President and Group Head, US Region, and President & CEO, CIBC Bank USA, will be transitioning to the role of Vice-Chair, CIBC Bank USA, focused on developing and deepening client relationships. Mr. Capatides has been an important part of our bank for more than 25 years, including as CAO and General Counsel and his oversight of CIBC FirstCaribbean International Bank, as well as Strategy and Corporate Development.

Shawn Beberwill assume the role of Senior Executive Vice-President and Group Head, US Region, and President & CEO, CIBC Bank USA, and our US bank holding company. Mr. Beber will be based in Chicago where he will continue our efforts to build a strong and growing cross-border platform for clients. He most recently served as Chief Risk Officer, and previously held senior roles with CIBC including General Counsel, head of Strategy and Corporate Development, and head of U.S. Capital Markets.

Mr. Beber was also instrumental in the acquisition of The PrivateBank in 2017 and played a lead role in the integration to build the growth platform we have today. Frank Guse will take on the role of Senior Executive Vice-President and Chief Risk Officer and join CIBC's Executive Committee. Mr. Guse has deep experience in both risk and business roles.

Most recently he served as Executive Vice-President, Strategy & Transformation, Personal and Business Banking. He previously led key risk management functions including Risk Analytics, Reporting, and Credit Decisioning. Prior to joining CIBC, he gained global experience with McKinsey & Company in Germany where he focused on risk management.

Continuing in their current roles on CIBC's Executive Committee are: Harry Culham, Laura Dottori-Attanasio, Jon Hountalas, Christina Kramer, Kikelomo Lawal, Hratch Panossian and Sandy Sharman.