CIBC is a leading financial services provider in the US that has a wide range of banking solutions. With a strong presence across the country, it supports individuals, families, and businesses through its experienced team and network of offices.
This profile will highlight CIBC Private Wealth, the division focused on wealth management for high-net-worth clients. The firm delivers personalized investment management, wealth planning, trust services, and private banking.
CIBC’s US story began in 1991, when The PrivateBank was founded in Chicago to serve local clients. This move laid the foundation for what would become a major presence in American banking and wealth management.
The larger CIBC story stretches back to 1867 in Toronto, where The Canadian Bank of Commerce first opened its doors. In 1961, a landmark merger with the Imperial Bank of Canada created the Canadian Imperial Bank of Commerce.
CIBC has always looked for new ways to help people and businesses thrive. The bank introduced Canada’s first 24-hour cash dispenser in 1969 and launched the country’s first floating bank branch in 1964 to serve remote communities.
It was the first Canadian bank to offer nationwide telephone banking in 1992 and created President’s Choice Financial with Loblaws in 1998. The company also expanded its reach by acquiring Merrill Lynch Canada’s retail brokerage in 2001 and completed its acquisition of Atlantic Trust in 2014.
CIBC Private Wealth took shape after CIBC acquired The PrivateBank in 2017, combining deep local roots with global strength. The firm is now part of a larger organization with $107 billion in assets under management and administration as of July 2025. Its team helps clients use their wealth to support their families, build legacies, and make a difference for future generations.
CIBC Private Wealth offers solutions designed to help clients use their wealth to support their families and the causes they value:
Each client works with a dedicated team led by an experienced advisor. The firm’s personalized approach helps deliver thoughtful and holistic wealth plans.
CIBC Private Wealth states it has a culture that values individuality and growth, with opportunities to lead and learn. According to the firm, employees can chart their own course while working with experienced professionals.
The company also says that it supports learning, career development, and a sense of belonging. Team members at CIBC Private Wealth can receive the following benefits:
CIBC Private Wealth also reports that 94 percent of employees feel their teams value workplace differences. Women hold 50 percent of seats on the board of directors, and 43 percent of the team identifies as people of color. It states it aims for its workforce and leadership to reflect the diversity of its clients and communities.
Jack Markwalter is CEO of CIBC Private Wealth and chairs several related entities within the division. Before joining the firm in 2002, Markwalter held senior management roles at Morgan Stanley Private Wealth Management in New York, London and Atlanta. He has more than 30 years of experience in the private client and investment industry.
The operating committee at CIBC Private Wealth includes experienced leaders with specialized roles and backgrounds:
Each leader on the executive team at CIBC Private Wealth focuses on client needs. They deliver high standards of service and performance.
In 2024, CIBC Private Wealth Advisors and CIBC World Markets Corp. agreed to pay $12 million in penalties after the SEC found recordkeeping violations involving electronic communications. This action is part of a larger push by regulators to enforce compliance and transparency in the wealth industry. By addressing these issues, the firm aims to improve its compliance practices and protect its clients’ interests in the future.
Looking ahead, CIBC Private Wealth is guiding clients on tax-smart giving strategies for 2025. Amanda Regnier, senior wealth strategist, highlights how donating appreciated assets or using donor advised funds can boost both tax savings and charitable impact. Such advice allows the company to maintain its focus on client-centered planning and support long-term financial goals.
If you are going to let your winners run, let them run for a good cause while lowering your tax bill.
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