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CIBC Announces Harry Culham as Next CEO, Succeeding Victor Dodig

Victor Dodig will retire after 11 years as CEO, with Harry Culham set to take over leadership on November 1, 2025.

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CIBC branding in Ottawa, Ontario, Canada June 19, 2024. REUTERS/Blair Gable/File Photo
Victor Dodig, President and CEO of CIBC, speaks during the annual meeting of shareholders in Ottawa on Thursday, April 6, 2017. Dodig says a tax hike targeting major financial institutions expected in today’s federal budget could send the wrong signal internationally about investing in Canada.THE CANADIAN PRESS/Justin Tang

Overview

  • Victor Dodig, CEO of Canadian Imperial Bank of Commerce since 2014, will step down on October 31, 2025, and remain as a senior advisor until April 2026.
  • Harry Culham, currently head of CIBC's capital markets division, will assume the role of CEO, with an interim position as Chief Operating Officer starting April 1, 2025.
  • Under Dodig's leadership, CIBC expanded its U.S. presence, including the $4.9 billion acquisition of PrivateBancorp in 2017, and invested in digital banking initiatives like Simplii Financial.
  • Culham, a veteran of global banking roles, is expected to maintain CIBC's strategy focused on client relationships, digital growth, and wealth management across Canada and the U.S.
  • The leadership transition occurs during economic uncertainty influenced by U.S.-Canada trade tensions and challenges in the banking sector, but analysts express confidence in Culham's capabilities.