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CIBC Wood Gundy is the Canadian full-service retail brokerage division of CIBC World Markets Inc., a subsidiary of the Canadian Imperial Bank of Commerce (CIBC). Through its network of over 1,000 investment advisors working in 80 locations across Canada, CIBC Wood Gundy offers an array of investment and insurance products and services.
The transaction made Wood Gundy once again the largest brokerage firm in Canada. [7] In 2001, CIBC would buy the remainder of Merrill's Canadian business. In 1997, CIBC Wood Gundy acquired the U.S. brokerage house Oppenheimer & Co. After the acquisition the U.S. division took the name CIBC Oppenheimer, eliminating the use of the Wood Gundy ...
CIBC purchased a majority stake in Wood Gundy in June 1988 for C$203.3 million. [2] [3] After the purchase, the CIBC formed CIBC Wood Gundy, which offered asset management services for corporate and institutional clients. [3] Two years later, in 1990, they continued to expand the Canadian securities business by acquiring much of Merrill Lynch ...
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CIBC Private wealth is the brokerage division of the Canadian Imperial Bank of Commerce (CIBC). CIBC prefers to use phrases like "wealth-building" and "wealth management" to describe its investment services. Like most banks, their financial products include stocks, bonds, mutual funds, managed portfolios, guaranteed investments, and credit. And ...
When Al Flood became CEO, one of his first acts was to fire his chief rival Paul Cantor. In 1999, the company saw a competition between Wood Gundy (now CIBC World Markets) chief John S. Hunkin and Personal/Commercial banking head Holger Kluge, with Kluge retiring after Hunkin became chairman. In February 2004, Hunkin forced his friend and heir ...
In 1988, Rubin moved on to the brokerage firm Wood Gundy [2] which was taken over by CIBC and became first CIBC Wood Gundy and then CIBC World Markets.He has accurately predicted fluctuations in interest rates and the value of the Canadian dollar.
CIBC Mellon was founded in 1996 after CIBC joined with Mellon Financial Corporation in a 50-50 joint venture named CIBC Mellon Global Securities Services (CMGSS). [6] The following year, 1997, CIBC purchased a 50% stake in The R-M Trust Company from Mellon, which would become CMGSS's sister company, CIBC Mellon Trust Company (CMTC). [7]