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CIBC FirstCaribbean gets new CEO
CIBC FirstCaribbean yesterday welcomed its new CEO, Gary Brown, for his first official day in office, following his appointment with effect from January 1, 2016.
Prior to this role, he was Global Head of Corporate Banking with the bank’s parent company, CIBC. In that capacity, Mr Brown had responsibility for corporate and institutional banking activities at CIBC, including lending to large corporates, real estate finance, global banking, international lending and certain non-core portfolio activities.
Additionally, he served as a member of the Wholesale Banking Management Committee and Investment Committee, and CIBC’s Operating Committee. Brown remains a member of the parent bank’s operating committee in his role as Chief Executive Officer of CIBC FirstCaribbean. From 2004 to 2013, he was President and CEO of CIBC World Markets Corp., the bank's US broker-dealer and responsible as US region head for all business and governance functions under a US regional management structure.
Brown began his banking career in 1976 with The Chase Manhattan Bank, becoming a lending officer in the Commodity Finance division. From 1980 to 1999, he held a number of senior business and risk management positions with UBS AG, including New York Branch Manager and Head of the Structured Finance division, one of six operating divisions of UBS in the Americas.
In 1998, he was appointed Chief Credit Officer — Americas. Immediately prior to joining CIBC in 2001, he served as President and Director for K2 Digital, Inc., an Internet professional services company.
The new CEO said his intention to build on the strong recovery which the bank has been seeing over the past two quarters, with its highest net income in five years being recorded in the third quarter of 2015. In a message to employees across the bank, he noted that his focus will be on the acceleration of growth across the bank’s regional footprint through an even stronger focus on the customer, adding: “We are a service business and serving our customers well is the only way we can distinguish ourselves from the competition and achieve success. I personally intend to stay focused by making contact with at least one customer every single day – either in person, in client meetings or by telephone.”
He urged all employees to do the same. “By understanding this we will ensure that we never lose sight of why we are here – to help our customers realize their financial potential and making sure that every one of them has a great story to tell about their experience with CIBC FirstCaribbean.”
Mr. Brown succeeds Rik Parkhill, who demitted office at the end of December after a four-year tenure.
CIBC FirstCaribbean is the largest, regionally-listed bank in the English and Dutch speaking Caribbean serving over 500,000 accounts in 17 markets, through 2,900 staff, across 100 branches and offices.
The bank offers a full range of market-leading financial services in: corporate and investment banking, treasury sales and trading, retail banking, wealth management, Small Business and Credit Cards.
CIBC FirstCaribbean is a member of the CIBC Group. CIBC is a leading North American financial institution serving clients in Canada and around the world. Through three distinct business lines, Retail and Business Banking, Wealth Management and Wholesale Banking, CIBC provides a full range of products and services to almost 11 million individual, small business and commercial banking clients and meets the financial needs of corporate and institutional clients.