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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.
Andrew Pyle (born c. 1963) [1] is a Canadian economist, currently an advisor and portfolio manager with CIBC Wood Gundy in Peterborough, Ontario. Andrew also writes a weekly newsletter which can be found at pyle-group.com and also provides a monthly conference call. He also appears on BNN Bloomberg as well as other media outlets.
The Wood Gundy name was used extensively by the bank's investment banking arm, which was known as CIBC Wood Gundy until 1997. Today, CIBC's investment banking business is known as CIBC World Markets, and the name CIBC Wood Gundy is used as the brand for the bank's retail brokerage business.
The original Wood Gundy company was established in Toronto in 1905 by George Herbert Wood and James Henry 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 ]
On July 31, 2014, CIBC announced the appointment of Victor Dodig as President and CEO which took effect on September 15, 2014. [2] This division was once called Wood Gundy and was once the biggest performing unit for CIBC.
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.
BMO Nesbitt Burns, CIBC Wood Gundy, and McLeod Young Weir, were all rebranded to BMO Capital Markets, CIBC World Markets, and Scotia Capital, respectively, but their bank holding company parent still use the old names as a brand for their full service brokerage under wealth management, plus the old name still remains the broker dealer ...