Over the past year, we’ve seen a real shift within our bank – a move from understanding to action – it’s all part of our journey to become #1 in client experience. It’s a goal we’ve set for the medium term, and we have the full support of our entire team behind it.
We’ve made some very positive gains year-over-year, including strong and consistent improvement in client loyalty, as indicated by our Ipsos CSI Net Promoter Score. In fact, over the past four years, CIBC’s score has continued to improve and has outpaced our Canadian banking peers. Other metrics also indicate we’re on the right track – the latest JD Power Canadian Retail Banking Satisfaction Study results show signifi cant improvements in day-to-day client satisfaction among our clients.
As part of our client-focused strategy, we are following our clients where they bank. Our planned acquisition of PrivateBancorp, Inc. builds on our existing U.S. capital markets presence and our 2014 acquisition of Atlantic Trust, which offers private wealth management services to U.S. clients. On closing, the PrivateBancorp transaction will also allow us to create a broader, diversified, and more valuable CIBC for our clients and shareholders by providing our CIBC and Atlantic Trust clients with access to U.S. banking capabilities.