| Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce
CIBC – the Canadian Imperial Bank of Commerce – is one of the top five largest Canadian banks with an international scope and a commanding market presence both within Canada and abroad. Its in-house legal team in Canada is led by Stephen Scholtz, senior vice president and general counsel, and globally by senior executive vice president, chief administrative officer and general counsel Michael Capatides. Capatides leads the Bank’s administrative division and has overall responsibility for legal, privacy, ombudsman, corporate secretary, global regulatory affairs, and government relations groups. CIBC employs 44,000 people and carries total assets of C$597.1bn with ten million Canadian clients, offering a wide range of services from personal business and commercial banking to wealth management and capital markets, all requiring nimble and comprehensive legal support. The legal team has achieved many highlights in the last year, most notably participating in the Bank’s preparations for its new debit and credit card features including new cash back options. The team is also critical to CIBC’s cutting edge customer offerings including, in a first for the Canadian banking industry, technology where customers can view additional data about their purchases to help with budgeting in real time through an app. Lastly, the legal team worked on the acquisition of Air Canada’s “Aeroplan” loyalty program from Canadian analytics firm Aimia, with a new range of credit cards also set to launch in 2020.