Keith Kalawsky and Derek DeCloet report on the difficulties being experienced by CIBC.
One statistic illustrates why some investors have lost faith in Mr. Hunkin’s executive team. When he became CEO, he set a goal to outperform all other major Canadian banks in total shareholder return. But CIBC has been left in the dust by three of its rivals: Royal Bank of Canada, Bank of Nova Scotia and Bank of Montreal. It has shrunk to smallest of the Big Five, with a $16-billion market capitalization.