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A CIBC branch is seen in Toronto in this file photo.
A CIBC branch is seen in Toronto in this file photo.
(Mark Blinch/Reuters)

CIBC lends money to U.K.’s Oriel in ‘marketing alliance’

Canadian Imperial Bank of Commerce’s wholesale banking division is expanding in the U.K., at least a little bit.

The move continues CIBC’s incremental approach to international expansion – a minority stake here, an alliance there.

In this case, CIBC is lending money to a British brokerage in return for wider access to the firm’s clients and research.