CIBC has the right strategy to drive continued success, and the right team in place to build a strong, innovative, relationship-oriented bank.

As strategic advisors to management, your Board continued to prudently balance growth opportunities – such as the proposed acquisition of PrivateBancorp, Inc. – with risk discipline and shareholder value creation. We have worked closely with CIBC’s President and CEO, Victor Dodig, and the senior management team to build momentum for our bank’s transformation by focusing on three integrated bank-wide priorities: client focus, innovation and simplification.

Your Board recognizes the progress made over the past year across these priorities, including building stronger and deeper relationships with clients, as the team strives toward our goal of being #1 in client experience. Progress has also been made on the innovation and simplification front, as we delivered new technologies that improved the banking experience for clients and simplified processes making it easier to do business with us.

In closing, I would like to sincerely thank our management team, which delivered excellent results this year, as well as my fellow directors. I would like to warmly thank CIBC’s employees for their passion in serving our clients and for the strong performance in all of our businesses.

Honourable John Manley
Chair of the Board