Gerald T. McCaughey

Gerald T. McCaughey B.Comm (born 1956 in Winnipeg, Manitoba, Canada) is the former president and CEO of the Canadian Imperial Bank of Commerce.

Early years

McCaughey was born and grew up in Winnipeg and attended parish schools before moving to Montreal in 1970.

At 17 McCaughey left home to work on the railway tunnels in the BC Interior from 1973 to 1976. He returned to Montreal to study at Concordia University and working at a meat packing plant in Montreal.^[1]

McCaughey graduated with a bachelor of commerce degree (and took further bookkeeping courses) and joined Merril Lynch Canada as broker in 1981.^[2]

Career

At Merrill Lynch McCaughey worked his way across the company's operations in Winnipeg, Edmonton and Montreal.^[3]

In 1990 Merrill Lynch sold their private client operations in Canada to CIBC, McCaughey was an account executive and joined the then CIBC Wood Gundy.

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
• 2004–2014 President and Chief Operating Officer, CIBC

McCaughey haf been CEO since 2005, replacing former CEO and chair John Hunkin. McCaughey retired as the head of CIBC on September 15, 2014 and succeeded by Victor Dodig.

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."

Non-Banking Activities

Outside of banking, McCaughey serves various other boards:

• Chair of the Advisory Board for the Canada Institute of the Woodrow Wilson International Center for Scholars
• Director of the Frontier College Foundation
• Member of The Learning Partnership's Corporate Advisory Board
• Member of the U.S. Council on Foreign Relations

In 2012 he was included in the 50 Most Influential list of Bloomberg Markets Magazine.

Personal

McCaughey is one of five siblings born to Thomas McCaughey,^[4] a retired anesthetist (whom now works in Nepal) and French Canadian mother (his parents divorced in 1976).^[5]

McCaughey lives in downtown Toronto with longtime partner Joanne, an interior designer.^[6]

References

External links

• CIBC biography