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Traders on CIBC trading floor.
Traders on CIBC trading floor.

CIBC hires portfolio manager for precious metals and resources

Canadian Imperial Bank of Commerce has hired a portfolio manager to lead four of its resource-oriented funds.

Scott Vali will join the bank’s asset management arm to assume responsibility for the Precious Metals Fund; the Canadian Resources Fund; the Energy Fund; and the Renaissance Global Resource Fund. The funds were historically offered by the bank but sub-advised by outside firms.