Gerald T. McCaughey
Encyclopedia
Gerald T. McCaughey is the president and CEO of the Canadian Imperial Bank of Commerce
.
, studied at Concordia University in Montreal
and graduated with a bachelor of commerce degree.
Canada as an account executive in 1981 and joined CIBC when private client operations of Merrill Lynch was acquired by then CIBC Wood Gundy
in 1990.
Since joining CIBC, McCaughey has risen up the ranks within the bank:
McCaughey has been CEO since 2005, replacing former CEO and chair John Hunkin.
Outside of banking, McCaughey serves various other boards:
The Canadian Press reported on Thursday March 17, 2011, 8:36 pm EDT that "President and chief executive Gerald McCaughey's pay increased 50 per cent to $9.34 million last year."
Canadian Imperial Bank of Commerce
The Canadian Imperial Bank of Commerce is one of Canada's chartered banks, fifth largest by deposits. The bank is headquartered at Commerce Court in Toronto, Ontario. CIBC's Institution Number is 010, and its SWIFT code is CIBCCATT....
.
Early years
McCaughey was born in WinnipegWinnipeg
Winnipeg is the capital and largest city of Manitoba, Canada, and is the primary municipality of the Winnipeg Capital Region, with more than half of Manitoba's population. It is located near the longitudinal centre of North America, at the confluence of the Red and Assiniboine Rivers .The name...
, studied at Concordia University in Montreal
Montreal
Montreal is a city in Canada. It is the largest city in the province of Quebec, the second-largest city in Canada and the seventh largest in North America...
and graduated with a bachelor of commerce degree.
Career
McCaughey started at Merrill LynchMerrill Lynch
Merrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York...
Canada as an account executive in 1981 and joined CIBC when private client operations of Merrill Lynch was acquired by then CIBC Wood Gundy
CIBC Wood Gundy
CIBC Wood Gundy is the is the Canadian retail brokerage division of CIBC World Markets, a division of the Canadian Imperial Bank of Commerce.CIBC Wood Gundy maintains a network of 1,400 brokers working in over 100 branches across Canada...
in 1990.
Since joining CIBC, McCaughey has risen up the ranks within the bank:
- 1994-1999 President of Wood Gundy Private Client Investments
- 1999-2002 Senior Executive Vice-President (Wealth Management)
- 2002-2004 Vice Chair, CIBC
- 2004-2005 Chairman and Chief Executive Officer of CIBC World Markets
- 2004-Present President and Chief Operating Officer, CIBC
McCaughey has been CEO since 2005, replacing former CEO and chair John Hunkin.
Outside of banking, McCaughey serves various other boards:
- Chair of the Advisory Board for the Canada Institute of the Woodrow Wilson International Center for ScholarsWoodrow Wilson International Center for ScholarsThe Woodrow Wilson International Center for Scholars , located in Washington, D.C., is a United States Presidential Memorial that was established as part of the Smithsonian Institution by an act of Congress in 1968...
- Director of the Frontier CollegeFrontier CollegeFrontier College is a Canadian literacy organization established in 1899 by Alfred Fitzpatrick. Founded as the Reading Camp Association, Frontier College aims to combat illiteracy in Canada by providing non-formal education to those that seek assistance with their learning and have been overlooked...
Foundation - Member of The Learning Partnership's Corporate Advisory Board
- Member of the U.S. Council on Foreign RelationsCouncil on Foreign RelationsThe Council on Foreign Relations is an American nonprofit nonpartisan membership organization, publisher, and think tank specializing in U.S. foreign policy and international affairs...
Compensation
McCaughey was paid $6.24 million in total direct compensation in 2009, according to the company's most recent annual proxy circular.The Canadian Press reported on Thursday March 17, 2011, 8:36 pm EDT that "President and chief executive Gerald McCaughey's pay increased 50 per cent to $9.34 million last year."