The large CIBC sign outside the bank's office building at the south east corner of King St. West and Bay St.Fred Lum/The Globe and Mail
CIBC World Markets is building out a new investment banking team focused on private capital to strengthen its ties to large, institutional money managers.
As the country's large pension funds and other private equity groups account for an increasingly significant portion of the deal environment, CIBC has been repositioning itself to serve them.
"Our pension plans, managers of private capital and sovereign wealth fund clients are playing increasingly important roles in Canada and around the world. Having a dedicated team to focus on these pools of capital across their many investment activities is paramount given their critical role in financial and investing markets," Paul Farrell, head of Canadian investment-banking and private capital operations at CIBC, said.
To bolster the newly formed group, Michelle Khalili will rejoin CIBC as a managing director on Sept. 6, having previously been head of Canadian equity capital markets at Goldman Sachs. In her new role, she will build the bank's coverage of natural resource sector opportunities with a specific focus on investors with large pools of capital such as pension and sovereign wealth funds, according to an internal memo.
Ms. Khalili previously worked for CIBC for more than a decade with the bank's equity capital markets group.
At the same time, CIBC is strengthening its focus on technology and innovation by putting together a specific team to boost coverage of this industry. Kathy Butler, who is already head of capital markets in British Columbia, will take on an expanded role overseeing technology and innovation investment banking, where CIBC sees "long-term client needs and growth opportunities," the memo states.
As part of that initiative, Amit Monga will join the bank as a managing director in the technology and innovation investment banking group. He will be based in Toronto and will bring his experience advising public and private companies as an investment banker and venture capitalist to CIBC. He joins the bank on Aug. 2.
Roman Dubczak, head of CIBC's global investment banking business, said in a statement that "being a leader in innovation for our clients is the basis for our renewed focus on this sector in our investment banking franchise."
"Canada's economic success will, to a large extent, depend on a vibrant innovation sector and we're keen to be a part of that at CIBC," Mr. Dubczak said.