CIBC names new marketing EVP amid executive shuffle

Stephen Forbes steps into the role, which includes oversight of CMO Rob Assimakopoulos.

Stephen Forbes

The CMO at CIBC will report into a new EVP of purpose, brand and marketing, one change amid a wider executive shakeup within one of Canada’s Big Five banks.

The changes, announced internally on April 9, include the appointment of Stephen Forbes, former EVP of banking centres, to the newly created role of EVP of purpose, brand and marketing.

Effective April 15, his mandate includes establishing a “purpose-driven culture that defines who we are internally and externally,” according to a CIBC statement sent to strategy.

As part of the restructuring, CMO Rob Assimakopoulos and his marketing team remain intact and will now report into Forbes, who also has oversight of Jennifer Hubbard, managing director of financial planning and advice, and Dave Nicholson, VP of brand purpose. Forbes, meanwhile, will report to Sandy Sharman, senior EVP and chief human resources and communications officer at the bank.

Assimakopoulos previously reported into Lynne Kilpatrick, EVP of client strategy and marketing at CIBC, who moved into a new role a few months ago. In the interim, he was accountable to a senior EVP of client connectivity and innovation.

In a statement, the bank said the changes are part of a broader set of leadership appointments and will help “foster collaboration, share best practices and instill a strong, client-focused culture as we develop leaders within our team.”

The changes come amidst a handful of leadership appointments within its wealth management, retail brokerage and capital markets business units.