Canadian Imperial Bank of Commerce (CM) Q4 2022 Earnings Call Transcript

For the period ending October 31, 2022

December 1, 2022 7:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning and welcome to the CIBC Quarterly Financial Results Call. Please be advised that this call is being recorded. I would now like to turn the meeting over to Geoff Weiss, Senior Vice President, Investor Relations. Please go ahead, Geoff.

Geoff Weiss

Thank you and good morning. We will begin this morning’s presentation with opening remarks from Victor Dodig, our President and Chief Executive Officer followed by Hratch Panossian, our Chief Financial Officer; and Frank Guse, our Chief Risk Officer. Also on the call today are a number of our group heads, including Shawn Beber, U.S. Region; Harry Culham, Capital Markets and Direct Financial Services; Laura Dottori-Attanasio, Canadian Personal and Business Banking; and Jon Hountalas, Canadian Commercial Banking and Wealth Management. They are all available to take questions following the prepared remarks. With a hard stop at 8:30, please limit your questions to one.

As noted on Slide 2 of our investor presentation, our comments may contain forward-looking statements, which include assumptions and have inherent risks and uncertainties. Actual results may differ materially.

With that, I will now turn the call over to Victor.

Victor Dodig

Thank you, Geoff and good morning everyone. My remarks this morning will focus on our performance and achievements over the past year and our outlook for the year ahead. But before I get into these details, I wanted to acknowledge members of our CIBC leadership team who are taking on new roles as we start our new fiscal year. Mike Capatides, most recently the Head of our U.S. Region, has transitioned to the role of Vice Chair, CIBC Bank USA. With more than 25 years of banking experience, Mike is going to focus on developing and deepening client relationships in our U.S. region.

Shawn Bieber, most recently, our Chief Risk Officer, succeeds Mike. Shawn was instrumental in the acquisition of the Private Bank in 2017. And with his deep knowledge of our U.S. business, strong client focus and proven execution in senior leadership roles across our bank, he will continue building on our momentum in leading our U.S. region. I am also pleased to introduce Frank Guse as our new Chief Risk Officer. Some of you may be familiar with Frank from his most recent role leading strategy and transformation in personal and business banking. Frank’s global expertise in all facets of risk management, coupled with a strategic perspective, position him well for his new role. These leadership changes leverage our strong and experienced internal talent and they allow us to focus on delivering relative outperformance going forward.