CIBC World Markets

CIBC World Markets

Infobox Company
company_name = CIBC World Markets
company_
company_type = Division of CIBC, a Public company
foundation = Toronto, Ontario, Canada , 1867
location = flagicon|Canada|size=20px Toronto, Ontario, Canada
key_people = Richard Nesbitt, CEO of World Markets
industry = Bank
products = Financial services
revenue =profit 12.1 billion CAD (2007)
net_income =profit 3.3 billion CAD (2007)
assets = 342.2 billion CAD (2007)
num_employees = 40,457
homepage = http://www.cibcwm.com/

CIBC World Markets is the investment banking subsidiary of the Canadian Imperial Bank of Commerce. The firm competes as an investment bank both in the domestic and international equity and debt capital markets. Established via an acquisition of Wood, Gundy and Company ; it acquired its current name several years after acquiring U.S.-based Oppenheimer & Co. and selling the latters trademark to Fahnestock in 2003. Prior to that, the company operated in Canada as CIBC Wood Gundy, and in the U.S., U.K., Israel and Hong Kong as CIBC Oppenheimer.

History

CIBC Wood Gundy

CIBC acquired Wood, Gundy and Co. in 1988 for $110 million (Canadian), or $86 million (United States). Wood Gundy was established in Toronto in 1905 by George Herbert Wood and James Henry Gundy. In 1990, they continued to expanded the Canadian securities business by acquiring much of Merrill Lynch & Company's Canadian business.

CIBC Eyers Reed

CIBC Wood Gundy operated as CIBC Eyers Reed in Australia following the acquisition of the broker-dealer.

CIBC Oppenheimer

In 1997, CIBC Wood Gundy (New York) under the direction of Michael S. Rulle acquired the U.S. brokerage house Oppenheimer & Co.. After the acquisition the U.S. division took the name CIBC Oppenheimer.

ale of Retail Division

In 2003 CIBC sold an asset management division along with retail brokerage to Fahnestock Viner along with the Oppenheimer & Co. name. Upon doing so CIBC Wood Gundy (in Canada) and CIBC Oppenheimer (in US) became jointly known as CIBC World Markets. The Wood Gundy nomenclature lives on today as the retail brokerage division of CIBC World Markets Inc., however only operates in Canada; the U.S. operation lacking a retail arm.

ale to Oppenheimer & Co. (Fahnestock Viner)

In November 2007, the "new" Oppenheimer & Co. (Fahnestock) announced that it would purchase a major part of CIBC World Markets' U.S. Investment Banking, Corporate Syndicate, Institutional Sales and Trading, Equity Research, Options Trading and a portion of the Debt Capital Markets business which includes Convertible Bond Trading, Loan Syndication, High Yield Origination and Trading as well as related operations located in the U.K., Israel and Hong Kong. The deal closed January 14, 2008 and essentially reunited the original Oppenheimer & Co. which CIBC divided in the sale to Fahnestock.

Structure

*Investment Banking
**Industry Expertise
**Product Expertise
**Merchant Banking
*Capital Markets
**Equities
**Commodities
**Fixed Income
**Foreign Exchange
**Money Market
**Securitization

Major locations

*Canada
**Toronto, Ontario
**Calgary, Alberta
**Montreal, Quebec
**Vancouver, BC
**Ottawa, Ontario

*United States
**Atlanta, Georgia
**Boston, Massachusetts
**Chicago, Illinois
**Houston, Texas
**New York, New York
**Salt Lake City, Utah

*Europe
**London, UK
**Dublin, Ireland

*Asia
**Beijing, China
**Hong Kong, PRC
**Tokyo, Japan
**Shanghai, China
**Singapore

*Australia
**Sydney, Australia

Executive

On February 29, 2008, CIBC World Markets Chairman and Chief Executive Officer Brian Shaw was replaced in both capacities by Richard Nesbitt, a former TSX Group CEO. [ [http://www.reportonbusiness.com/servlet/story/RTGAM.20080107.wnesbitt0107/BNStory/robNews/home The Globe and Mail, Report on Business, by Virginia Galt and Tara Perkins – January 7, 2008 at 10:44 AM EST – Subprime woes lead to shakeup at CIBC] ] [ [http://www.cibcwm.com/wm/company-information/executive-bios/nesbitt.html CIBC World Markets Executive Biographies - Richard Nesbitt] ]

Notable current and former employees

Business

*Henry Blodget, equity research analyst.
*Meredith Whitney, equity research analyst.
*Guy Adami, equity trader.

See also

*Oppenheimer & Co.
*Wood Gundy Inc.

References


Wikimedia Foundation. 2010.

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

  • CIBC Wood Gundy — was created in 1988 with the purchase of Wood Gundy Inc. by the Canadian Imperial Bank of Commerce (CIBC). CIBC Wood Gundy once was used as the universal name of the CIBC investment banking arm until the purchase of the investment banking… …   Wikipedia

  • CIBC Wealth Management — is the brokerage division of the Canadian Imperial Bank of Commerce (CIBC). The CIBC prefers to use phrases like wealth building and wealth management to describe its investment services. Like most banks, their financial products include stocks,… …   Wikipedia

  • CIBC — Banque Canadienne Impériale de Commerce Logo de Banque Canadienne Impériale de Commerce Création 1961 Dates clés …   Wikipédia en Français

  • CIBC — Niederlassung der CIBC in Montréal Die Canadian Imperial Bank of Commerce ist die viertgrößte Bank Kanadas. Besser bekannt unter dem Kürzel CIBC hat sie ihren Hauptsitz in Toronto. Sie ist nicht nur in Kanada, sondern auch in den USA, der Karibik …   Deutsch Wikipedia

  • Your World with Neil Cavuto — Infobox Television show name = Your World with Neil Cavuto caption = Former Title card for Your World with Neil Cavuto genre = Business News/Talk program camera = Multi camera picture format = 480i NTSC runtime = 60 minutes presenter = Neil… …   Wikipedia

  • Daiwa Securities Capital Markets — Co. Ltd. Type Subsidiary Industry Investment services Founded 1999 Headquarters Tokyo, Japan Key people Shin Yoshidome (Presiden …   Wikipedia

  • Canadian Imperial Bank of Commerce — Infobox Company company name = Canadian Imperial Bank of Commerce company company type = Public company foundation = Toronto, Ontario, Canada , 1867 location = Toronto, Ontario| key people = Gerald T. McCaughey President CEO industry = Bank… …   Wikipedia

  • Trimaran Capital Partners — Industry Private equity Predecessor The Argosy Group Successor Trian Acquisition Corp. Mistral Equity Partners …   Wikipedia

  • Oppenheimer Holdings — Type Public Traded as NYSE: OPY Industry Fi …   Wikipedia

  • Banque canadienne impériale de commerce — Logo de Banque canadienne impériale de commerce Création 1961 Dates clés 1867 : création d …   Wikipédia en Français

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”