CIBC names CIO, BMO hires currency strategists

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There are some new appointments to report at two of Canada's largest banks, with Bank of Montreal bulking up the foreign exchange group in its capital markets business and Canadian Imperial Bank of Commerce naming new senior money managers at its investment unit.

Canadian Imperial Bank of Commerce's Global Asset Management unit named Suzann Pennington chief investment officer, and Stephen Carlin senior portfolio manager for Canadian equities.

Ms. Pennington has been at CIBC Global Asset for two years, running Canadian equities. Prior to that she was one of the senior investment executives at Mackenzie Financial.

At CIBC she will oversee all of the investment businesses portfolio managers and researchers, while remaining head of equities and run some Canadian portfolios.

Mr. Carlin is a new addition, coming from Aegon Capital Management, where he ran Canadian, balanced, income and dividend portfolios.

Bank of Montreal meantime is adding to the foreign exchange group in its capital markets unit, bringing it close to 100 people.

The bank hired Gregory Anderson as North American head of foreign exchange strategy for G10 countries. His resume has stops at Société Générale, ABN Amro and BankBoston.

The bank hired Stephen Gallo to run European FX Strategy. He comes from Crédit Agricole SA. He'll be joined in the London office by Matthew Van Dyckhoff, who will be a director of currency sales. He most recently worked at Brown Brothers Harriman.

Finally, the bank hired Angela Wen as head of foreign exchange sales for China, based out of Shanghai. She has previously worked at Credit Suisse and ANZ Bank.

(Boyd Erman is a Globe and Mail Reporter & Streetwise Columnist.)

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