CIBC Capital Markets (Europe) S.A. to expand bank's operations in Europe
LUXEMBOURG, July 20, 2020 /PRNewswire/ -- CIBC (TSX: CM) (NYSE: CM) today announced the opening of a Luxembourg office to expand its capital markets operations in the region, while continuing to serve its clients who are present or active in the European Union, following Brexit.
"CIBC Capital Markets is pleased to establish a continental Europe office in Luxembourg to deepen relationships with our European client base, while building out our capital markets operations in the region," said Wayne Lee, Managing Director and Head, Europe & Asia Pacific Region.
The bank's continental Europe operations will be led by Thomas Pellequer, Chief Executive and Authorized Manager of CIBC Capital Markets (Europe) S.A. Mr. Pellequer has spent more than a decade at CIBC, most recently leading the bank's Corporate Solutions Group for Europe and Asia.
Situated at 2C, rue Albert Borschette, L-1246 Luxembourg, CIBC's European operations will deliver enhanced capital markets capabilities for clients, providing more options for corporate and institutional investors, including global markets and corporate banking services.
"As a European and international financial centre located between Germany, France and Belgium, Luxembourg is an ideal location for CIBC to extend its European reach," said Mr. Lee. "We are proud to be joining the ranks of Luxembourg's esteemed global financial institutions."
Following the UK's departure from the European Union, CIBC's impacted European clients have been migrated to CIBC Capital Markets (Europe) S.A. in accordance with the Commission de Surveillance du Secteur Financier (CSSF) guidelines. Through its existing presence in London, CIBC will continue to serve its UK clients.
CIBC is a leading Canadian-based global financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Small Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.
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