There was a major shakeup in CIBC's business banking operations Tuesday, a sign of the emphasis that the bank is placing on that side of its retail division.
The changes come as Jon Hountalas, who recently joined CIBC as executive vice-president of business banking after a 20-plus year career with HSBC, puts his stamp on the division.
In addition to moving a number of people around, he is creating new positions including vice-president portfolio management (to be filled by Costas Markakis, who was recently a vice-president at HSBC) and senior vice-president of Ontario region (to be filled by Dino Medves, recently a senior vice-president at HSBC). He's also posting a new role, vice-president of global transaction banking, that hasn't been filled yet.