Canadian Imperial Bank of Commerce is parting ways with Suzann Pennington, chief investment officer of CIBC Asset Management.
Ms. Pennington was appointed in May, 2013, and had responsibility for overseeing a sizable team of equity and bond portfolio managers. She originally joined the bank in 2011 as head of Canadian equities. Before that, she was a senior executive at Mackenzie Financial Corp. for about six years.
"I will be leaving CIBC in January. It is the right time for me and for the firm" Ms. Pennington said via email.
CIBC did not respond to a request for comment.
Earlier in the year, CIBC shuffled its top management ranks in wealth management, with David Scandiffio, former president of IA Clarington, taking over from Steve Geist as president and chief executive officer of CIBC Asset Management.
Mr. Geist was promoted to group head, wealth management, a position formerly held by Victor Dodig, the CEO of CIBC.
Niall McGee