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87-913: Imperial Bank may refer to Canadian Imperial Bank of Commerce , one of the "Big Five" banks in Canada, once the Imperial Bank of Canada Imperial Bank of China , first Chinese-owned bank modelled on Western banking practice Imperial Bank of India , oldest and the largest commercial bank of the Indian subcontinent, now State Bank of India Imperial Bank of Persia , British-owned state bank Imperial , 1990s Russian commercial bank associated with Russian hydrocarbon firms including Gazprom Imperial Bank South Africa , commercial bank Imperial Bank Limited , commercial bank in Kenya Topics referred to by

174-640: A branch in Dawson City . Wood, Gundy & Company , the precursor of CIBC's investment banking arm, opened its doors on February 1, 1905. During World War I, it took a prominent and active role in the organization of Victory Loans. Acquisitions in the 1920s caused the Commerce Bank to become one of the strongest branch networks in Canada with over 700 local branches; and the bank opened international branches in Cuba, Jamaica, Barbados and Trinidad during

261-540: A combined gross domestic product of over $ 9 trillion, 78% of which is accounted for by the four largest economies: India ($ 3.737 trillion), United Kingdom ($ 3.124 trillion), Canada ($ 1.652 trillion), and Australia ($ 1.379 trillion). In 1997 the Commonwealth Heads of Government agreed that, to become a member of the Commonwealth, an applicant country should, as a rule, have had

348-638: A former colony of the United Kingdom, but some have links to other countries, either exclusively or more directly (e.g., Bangladesh to Pakistan, Samoa to New Zealand, Papua New Guinea to Australia, and Singapore to Malaysia). Mozambique, in 1995, was the first country to join without such a constitutional connection, leading to the Edinburgh Declaration and the current membership guidelines. In 2009, Rwanda, formerly under Belgian and German rule, joined. Consideration for Rwanda's admission

435-455: A fundamental founding document of the organisation, laid out that membership required dominionhood. The 1949 London Declaration ended this, allowing republican and indigenous monarchic members on the condition that they recognised King George VI as " Head of the Commonwealth ". In the wake of the wave of decolonisation in the 1960s, these constitutional principles were augmented by political, economic, and social principles. The first of these

522-596: A personal loans department. Following World War II, both banks opened new branches. Although the banks had been barred from the mortgage business in 1871, the Canadian government now called upon them to provide mortgage services. So, in 1954, Canadian banks started offering mortgages for new construction. The origins of the Imperial–Commerce merger lay in the actions of Barclays Bank . Barclays began operating in Canada in 1929, but in 1956 sold its Canadian operations to

609-537: A potential rival for the CEO post. Denham was reportedly a close ally of Hunkin and Kassie, and McCaughey wanted to build his own senior executive team. Current executive team: Current members of the board of directors : As a founding partner of the Toronto Blue Jays baseball club, CIBC was the team's official bank until selling its ownership stake in 2000. Other sporting events sponsored by CIBC include

696-696: A public share issue. Between 1993 and 1996, the bank restructured its holdings in the Caribbean, with the incorporation of CIBC West Indies Holdings Limited and CIBC Caribbean Limited. CIBC West Indies Holdings then sold 30% of its shares to the public. In 1997, CIBC issued 5 million shares in CIBC Bahamas Limited to the public. On October 31, 2001, Barclays and CIBC agreed to combine their Caribbean operations to establish FirstCaribbean International Bank. CIBC bought Barclays' stake in 2006 to give it control of approximately 92% of FirstCaribbean, which

783-456: A report on potential amendments was presented by the Committee on Commonwealth Membership at the 2007 Commonwealth Heads of Government Meeting . New members were not admitted at this meeting, though applications for admission were considered at the 2009 CHOGM . New members must "as a general rule" have a direct constitutional link to an existing member. In most cases, this is due to being

870-735: A republic in January 1950, it would remain in the Commonwealth and accept the British Sovereign as a "symbol of the free association of its independent member nations and as such the Head of the Commonwealth". Upon hearing this, King George VI told Menon : "So, I've become 'as such'". Some other Commonwealth countries that have since become republics have chosen to leave, whilst others, such as Guyana , Mauritius and Dominica , have remained members. India's inaugural prime minister Jawaharlal Nehru declared on 16 May 1949, shortly following

957-720: A republic in accordance with the Irish Republic of Ireland Act 1948 ; in doing so, it also formally left the Commonwealth. Whilst Ireland had not actively participated in the Commonwealth since the early 1930s, other dominions wished to become republics without losing Commonwealth ties. The issue came to a head in April 1949 at a Commonwealth prime ministers' meeting in London . Under the London Declaration , as drafted by V. K. Krishna Menon , India agreed, when it became

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1044-553: A sale. In February, 2010 CIBC became the first chartered bank in Canada to launch a mobile banking iPhone App. It surpassed 100,000 downloads in just over one month following launch, with over 1 million client logins to CIBC Mobile Banking since its introduction. Four months later, the bank announced it signed a deal to buy a CA$ 2.1-billion credit card portfolio from Citigroup 's Citibank Canada MasterCard business. Finally in October of that year, CIBC announced that it would be

1131-467: Is different from Wikidata All article disambiguation pages All disambiguation pages Canadian Imperial Bank of Commerce The bank has four strategic business units: Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, and Capital Markets. It has international operations in the United States ,

1218-409: Is not represented. Commonwealth citizens are eligible to apply for British emergency passports . Australia issues Documents of Identity in exceptional circumstances to resident Commonwealth citizens who are unable to obtain valid travel documents from their countries of origin and must travel urgently. The close association amongst Commonwealth countries is reflected in the diplomatic protocols of

1305-520: Is symbolic, representing the free association of independent members, the majority of which (36) are republics , and five have monarchs of different royal houses ( Brunei , Eswatini , Lesotho , Malaysia and Tonga ). The main decision-making forum of the organisation is the biennial Commonwealth Heads of Government Meeting (CHOGM), where Commonwealth Heads of Government , including (amongst others) prime ministers and presidents, assemble for several days to discuss matters of mutual interest. CHOGM

1392-692: Is the supreme court of 14 Commonwealth countries, including the Cook Islands and Niue which are under the Realm of New Zealand (though New Zealand itself does not make appeals to the Privy Council). Commonwealth nationals are eligible for appointment to the High Court of Fiji , with the Court relying on judges from other Commonwealth nations. Commonwealth citizens are eligible to serve in

1479-582: Is the successor to the Commonwealth Prime Ministers Meetings and, earlier, the Imperial Conferences and Colonial Conferences, dating back to 1887. There are also regular meetings of finance ministers, law ministers, health ministers and others. Members in arrears, as special members before them, are not invited to send representatives to either ministerial meetings or CHOGMs. The head of government hosting

1566-480: The 2015 Pan American Games and 2015 Parapan American Games , in which it served as the lead partner. The partnership was announced on 27 October 2011, when CIBC formalized its partnership with the PANAM Toronto 2015 Organizing Committee. Commonwealth of Nations The Commonwealth of Nations , often simply referred to as the Commonwealth , is an international association of 56 member states ,

1653-690: The Bank of Montreal with the Royal Bank of Canada – as not in the best interest of Canadians. In 2000, CIBC signed an agreement with the New York-based Aplettix Inc., a firm specializing in secure transaction systems in the banking sector; although the partnership was later abandoned for alternatives such as VeriSign. The early 2000s saw the bank divest from its real estate and investments outside of its business strategy. In 2000, CIBC sold its 10 per cent stake to Rogers Media . CIBC

1740-649: The Bank of Montreal ; by 1874 it had 24 branches. The Imperial Bank of Canada opened in Toronto on March 18, 1875, founded by former Commerce Vice-president Henry Stark Howland . By the end of 1895, the Canadian Bank of Commerce had grown to 58 branches and the Imperial Bank of Canada to 18. The 1896 gold strike in the Yukon prompted the Dominion Government to ask the Canadian Bank of Commerce to open

1827-640: The British Armed Forces . According to the British Army , "Commonwealth soldiers are, and always will be, an important and valued part of the fabric of the British Army." Thousands of potential Commonwealth recruits have been turned away due to a lack of eligible vacancies. Gurkha soldiers from Nepal , though it is not a Commonwealth country, have long fought alongside British and Commonwealth troops. They continue to be recruited by

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1914-527: The Caribbean , Asia , and United Kingdom . Globally, CIBC serves more than eleven million clients, and has over 40,000 employees. The company ranks at number 172 on the Forbes Global 2000 listing. CIBC's Institution Number (or bank number) is 010, and its SWIFT code is CIBCCATT. William McMaster founded the Canadian Bank of Commerce which opened on May 15, 1867, in Toronto as competition for

2001-769: The Harare Declaration was issued, dedicating the leaders to applying the Singapore principles to the completion of decolonisation, the end of the Cold War , and the end of apartheid in South Africa. The mechanisms by which these principles would be applied were created, and the manner clarified, by the 1995 Millbrook Commonwealth Action Programme , which created the Commonwealth Ministerial Action Group (CMAG), which has

2088-525: The High Court case of Sue v Hill , the United Kingdom was held to be a "foreign power". Similarly, in Nolan v Minister for Immigration and Ethnic Affairs , the nationals of other Commonwealth realms were held to be "aliens". Commonwealth citizens may receive consular assistance from other Commonwealth countries. In particular, British embassies and consulates may provide assistance to Commonwealth nationals in non-Commonwealth countries if their own country

2175-816: The Second World War . The British Commonwealth Air Training Plan was established for pilots from across the Empire and Dominions, created by the governments of the United Kingdom, Canada, Australia and New Zealand. Troops from Australia, Britain, the British Raj and New Zealand made up the British Commonwealth Occupation Force in post-war Japan. After the Second World War ended, the British Empire

2262-547: The United Nations General Assembly by the secretariat as an observer . The secretariat organises Commonwealth summits, meetings of ministers, consultative meetings and technical discussions; it assists policy development and provides policy advice, and facilitates multilateral communication amongst the member governments. It also provides technical assistance to help governments in the social and economic development of their countries and in support of

2349-470: The rule of law , as promoted by the quadrennial Commonwealth Games . A majority of Commonwealth countries are small states , with small island developing states constituting almost half its membership. Queen Elizabeth II , in her address to Canada on Dominion Day in 1959, pointed out that the Confederation of Canada on 1 July 1867 had been the birth of the "first independent country within

2436-405: The 57-storey building was the tallest in Canada, and the largest stainless-steel-clad building in the world. Changes to federal and provincial regulations ending the separation of banks, investment dealers, trust companies and insurance companies came in 1987. CIBC quickly took advantage of this and became the first Canadian bank to operate an investment dealer, CIBC Securities, offering services to

2523-520: The ATM. Following the merger, the new bank commissioned a new head office. While planning to retain Commerce Court North, the bank hired architect I. M. Pei to design a three-building complex. The result was Commerce Court consisting of a landscaped courtyard complementing the existing building and included the newly built 786 ft (240 m) Commerce Court West. When completed in 1973,

2610-1182: The Bay Park Centre under development by Hines Interests Limited Partnership and Ivanhoé Cambridge . Under the terms of its lease, the complex became CIBC Square . CIBC Square formally became CIBC's principal office and headquarters on 1 November 2021. In November 2018, CBC reported that CIBC was among the top brands used in phishing attacks, with the bank seeing a surge in fake mail attempts that prior quarter by 600%. Bank of Canada (1858, charter dormant, acquired in 1867) Gore Bank (1870) Bank of British Columbia (1901) Halifax Banking Company (1903) Merchants Bank of Prince Edward Island (1906) Eastern Townships Bank (1912) Bank of Hamilton (1924) Standard Bank of Canada (1928) Niagara District Bank (1875) Weyburn Security Bank (1931) Barclays Bank (Canada) (1956) Wood Gundy (1988) President's Choice Financial (1998; Simplii Financial from 2017) FirstCaribbean International Bank (2006) Atlantic Trust (2013) Privatebancorp (2016, later renamed CIBC Bank USA ) In 1920, Canadian Bank of Commerce established its first branches in

2697-605: The British Army ( Brigade of Gurkhas ), Indian Army ( Gorkha regiments ) and Royal Brunei Armed Forces ( Gurkha Reserve Unit ), as well the Gurkha Contingent of the Singapore Police Force . Most members of Brunei's Gurkha Reserve Unit are veterans from the British Army and Singaporean police. The criteria for membership of the Commonwealth of Nations have developed over time from a series of separate documents. The Statute of Westminster 1931 , as

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2784-468: The British Empire". She declared: "So, it also marks the beginning of that free association of independent states which is now known as the Commonwealth of Nations." As long ago as 18 January 1884 Lord Rosebery , while visiting Adelaide , South Australia , had described the changing British Empire, as some of its colonies became more independent , as a "Commonwealth of Nations". Conferences of British and colonial prime ministers occurred periodically from

2871-451: The CHOGM is called the chair-in-office (CIO) and retains the position until the following CHOGM. The Commonwealth Secretariat , established in 1965, is the main intergovernmental agency of the Commonwealth, facilitating consultation and co-operation amongst member governments and countries. It is responsible to member governments collectively. The Commonwealth of Nations is represented in

2958-639: The Canadian Imperial Bank of Commerce with over 1,200 branches across Canada. The new bank possessed the greatest resources and the most branches of any bank in the country. In 1964, the bank operated a floating branch using the passenger vessel MV Jean Brilliant along the north shore of the St. Lawrence River in Quebec , billed as the only floating branch in Canada for 5000 customers. In 1967, both Canada and CIBC celebrated their centenaries and CIBC

3045-471: The Commonwealth countries. For example, when engaging bilaterally with one another, Commonwealth governments exchange high commissioners instead of ambassadors . Further institutional connections exist between Commonwealth countries. These include, between some, connections to other parts of the Commonwealth in their judicial and military institutions. The Judicial Committee of the Privy Council

3132-413: The Commonwealth had a population of 2.5 billion. The Commonwealth is the largest association of ' Third World ' or ' Global South ' countries. With a population of 1.4 billion, India is the most populous Commonwealth country. Tuvalu is the smallest member, with about 12,000 people. The status of "member in arrears" is used to denote those that are in arrears in paying subscription dues. The status

3219-432: The Commonwealth to reflect its changing nature. Burma (Myanmar since 1989) and Aden (now part of Yemen) are the only states that were British colonies at the time of the war not to have joined the Commonwealth upon independence. Former British protectorates and mandates that did not become members of the Commonwealth are Egypt (independent in 1922), Iraq (1932), Transjordan (1946), Palestine (part of which became

3306-641: The Commonwealth's fundamental political values. The secretariat is headed by the Commonwealth secretary-general , who is elected by the Commonwealth heads of government for no more than two four-year terms. The secretary-general and two deputy secretaries-general direct the divisions of the Secretariat. The present secretary-general is Patricia Scotland, Baroness Scotland of Asthal , from Dominica, who took office on 1 April 2016, succeeding Kamalesh Sharma of India (2008–2016). The first secretary-general

3393-639: The Commonwealth. The Commonwealth dates back to the first half of the 20th century with the decolonisation of the British Empire through increased self-governance of its territories. It was originally created as the British Commonwealth of Nations through the Balfour Declaration at the 1926 Imperial Conference , and formalised by the United Kingdom through the Statute of Westminster in 1931. The current Commonwealth of Nations

3480-587: The Crown, and freely associated as members of the British Commonwealth of Nations". The term ' Commonwealth ' was officially adopted to describe the community. These aspects to the relationship were formalised by the Statute of Westminster in 1931, which applied to Canada without the need for ratification, but Australia, New Zealand and Newfoundland had to ratify the statute for it to take effect. Newfoundland never did as due to economic hardship and

3567-569: The Declaration, during the Constituent Assembly Debates that: We join the Commonwealth obviously because we think it is beneficial to us and to certain causes in the world that we wish to advance. The other countries of the Commonwealth want us to remain there because they think it is beneficial to them. It is mutually understood that it is to the advantage of the nations in the Commonwealth and therefore they join. At

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3654-766: The Dominions as well as the United Kingdom. The term first received imperial statutory recognition in the Anglo-Irish Treaty of 1921, when the term British Commonwealth of Nations was substituted for British Empire in the wording of the oath taken by members of parliament of the Irish Free State . In the Balfour Declaration at the 1926 Imperial Conference , the United Kingdom and its dominions agreed they were "equal in status, in no way subordinate one to another in any aspect of their domestic or external affairs, though united by common allegiance to

3741-500: The Imperial Bank. Barclays took payment partly in the form of Imperial stock. In 1960, without informing Imperial's board, Barclays began buying additional Imperial stock on the open market. L. Stuart Mackersy , chairman of Imperial, believed Barclays was making a play to take over Imperial. Mackersy thought that a takeover of a small bank such as Imperial was inevitable, but preferred to work with domestic rather than British concerns. In October 1960, Mackersy approached Neil J. McKinnon ,

3828-634: The State of Israel in 1948), Sudan (1956), British Somaliland (which united with the former Italian Somaliland in 1960 to form the Somali Republic ), Kuwait (1961), Bahrain (1971), Oman (1971), Qatar (1971) and the United Arab Emirates (1971). The post-war Commonwealth was given a fresh mission by Queen Elizabeth II in her Christmas Day 1953 broadcast, in which she envisioned the Commonwealth as "an entirely new conception – built on

3915-718: The Statute of Westminster for it to take effect, two laws — the Status of the Union Act, 1934 , and the Royal Executive Functions and Seals Act, 1934 — were passed by the Parliament of South Africa to confirm South Africa's status as a sovereign state, and to incorporate the Statute of Westminster into the law of South Africa . Commonwealth countries and the Empire were involved in every major theatre of

4002-581: The UK (especially in the 1960s and 1970s) to refer to recently decolonised countries, predominantly non- white and developing countries. It was often used in debates regarding immigration from these countries. The United Kingdom and the pre-1945 dominions became informally known as the Old Commonwealth, or more pointedly as the 'white Commonwealth', in reference to what had been known as the 'White Dominions'. On 18 April 1949, Ireland formally became

4089-577: The United Kingdom's cosmopolitan role in world affairs became increasingly limited, especially with the losses of India and Singapore. Whilst British politicians at first hoped that the Commonwealth would preserve and project British influence, they gradually lost their enthusiasm, argues Krishnan Srinivasan . Early enthusiasm waned as British policies came under fire at Commonwealth meetings. Public opinion became troubled as immigration from non-white member states became large-scale (see also: Commonwealth diaspora ). The term New Commonwealth gained usage in

4176-480: The United Kingdom, have preferential citizenship acquisition or residency policies for Commonwealth citizens. Initially, Commonwealth countries were not considered to be "foreign" to each other as their citizens were British subjects . Citizenship laws have evolved independently in each Commonwealth country. For example, in Australia, for the purpose of considering certain constitutional and legal provisions in

4263-1090: The West Indies in Bridgetown , Barbados and in Kingston, Jamaica . The same year it also opened branches in Port of Spain , Trinidad and Havana , Cuba . Its first branch in Mexico City opened in 1910. In 1957, the bank opened a branch in Nassau , the Bahamas , and in the subsequent years expanded its operations in Jamaica. Between 1963 and 1988, the bank expanded its branch network in Barbados opened branches in St. Vincent , Antigua , and St Lucia . In 1988, CIBC sold 45% of its shares in CIBC Jamaica via

4350-418: The beginning of the modern Commonwealth. Following India's precedent, other nations became republics, or constitutional monarchies with their own monarchs. Whilst some countries retained the same monarch as the United Kingdom, their monarchies developed differently and soon became essentially independent of the British monarchy. The monarch is regarded as a separate legal personality in each realm, even though

4437-421: The company saw a competition between Wood Gundy (now CIBC World Markets) chief John S. Hunkin and Personal/Commercial banking head Holger Kluge, with Kluge retiring after Hunkin became chairman. In February 2004, Hunkin forced his friend and heir-apparent, David Kassie, to resign as chairman and CEO of World Markets after several scandals in the US. Both men had waived their bonuses in 2002 after that year produced

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4524-462: The country sought closer ties with the Anglophone world . Under the formula of the London Declaration , Charles III is the Head of the Commonwealth . However, when the monarch dies, the successor to the crown does not automatically become the new head of the Commonwealth. Despite this, at their meeting in April 2018, Commonwealth leaders agreed that Prince Charles should succeed his mother Elizabeth II as head after her death . The position

4611-419: The country to hold new elections before a full suspension of Commonwealth membership would be considered. Prior to Togo's admission at the 2022 Commonwealth Heads of Government Meeting , Togolese Foreign Minister Robert Dussey said that he expected Commonwealth membership to provide opportunities for Togolese citizens to learn English and access new educational and cultural resources. He also remarked that

4698-525: The death of his mother, Elizabeth II , the position is not technically hereditary. Member states have no legal obligations to one another, though some have institutional links to other Commonwealth nations. Citizenship of a Commonwealth country affords benefits in some member countries, particularly in the United Kingdom , and Commonwealth countries are represented to one another by high commissions rather than embassies. The Commonwealth Charter defines their shared values of democracy , human rights and

4785-498: The division CIBC FirstCaribbean International Bank in 2011. On February 12, 2009, the Trinidad and Tobago Express reported that CIBC was pursuing discussions to buy CL Financial 's stake in the Republic Bank of Trinidad and Tobago . As part of a "bail out" agreement of CL Financial by the government of Trinidad and Tobago during the 2007–2008 financial crisis , the corporation was required to sell Republic and other assets. As of February 2011, CL Financial had yet to agree to

4872-453: The end of the Suez Crisis. The first member to be admitted without having any constitutional link to the British Empire was Mozambique in 1995 following its first democratic elections. Mozambique was a former Portuguese colony . Its entry preceded the Edinburgh Declaration and the current membership guidelines. In 2009, Rwanda became the second country to be admitted to the Commonwealth not to have any constitutional links to Britain. It

4959-535: The first bank in Canada to introduce the internationally used Visa-branded debit card. In April 2013, CIBC reached an agreement with Invesco to acquire Atlantic Trust , the company's wealth management unit for US$ 210 million. CIBC announced in June 2016 that it would acquire the Chicago-based commercial bank PrivateBancorp for US$ 3.8 billion. The sale completed in June 2017 and in August PrivateBank announced it would rebrand itself as CIBC Bank USA . In April 2017, CIBC, announced it would move its headquarters to

5046-418: The first one in 1887 , leading to the creation of the Imperial Conferences in 1911. The Commonwealth developed from the imperial conferences. A specific proposal was presented by Jan Smuts in 1917 when he coined the term "the British Commonwealth of Nations" and envisioned the "future constitutional relations and readjustments in essence" at the Paris Peace Conference of 1919 , attended by delegates from

5133-443: The former rules were consolidated into a single document. These requirements are that members must accept and comply with the Harare principles , be fully sovereign states , recognise King Charles III as head of the Commonwealth, accept the English language as the means of Commonwealth communication, and respect the wishes of the general population with regard to Commonwealth membership. These requirements had undergone review, and

5220-426: The highest qualities of the Spirit of Man: friendship, loyalty, and the desire for freedom and peace". However, the British treasury was so weak that it could not operate independently of the United States. Furthermore, the loss of defence and financial roles undermined Joseph Chamberlain's early 20th-century vision of a world empire that could combine Imperial preference, mutual defence and social growth. In addition,

5307-592: The largest foreign shareholder in the bank for over two decades, but in early 2005 he sold his portion (est. CA$ 1.2 billion) to establish a Canadian charity, the Li Ka Shing Foundation. CIBC was Li's choice for financing many of his Canadian ventures, like Husky Energy . Li had reportedly backed personal and commercial banking head Holger Kluge to succeed Al Flood as CEO of CIBC in 1999. CIBC sold its corporate and purchasing credit card business to U.S. Bank Canada in October 2006 which joined it with business charge cards it previously acquired from Royal Bank of Canada . In

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5394-416: The need for financial assistance from London, Newfoundland voluntarily accepted the suspension of self-government in 1934 and governance reverted to direct control from London. Newfoundland later joined Canada as its tenth province in 1949. Australia and New Zealand ratified the statute in 1942 and 1947 respectively. Although the Union of South Africa was not amongst the Dominions that needed to adopt

5481-466: The power to rule on whether members meet the requirements for membership under the Harare Declaration. Also in 1995, an Inter-Governmental Group was created to finalise and codify the full requirements for membership. Upon reporting in 1997, as adopted under the Edinburgh Declaration , the Inter-Governmental Group ruled that any future members would "as a rule" have to have a direct constitutional link with an existing member. In addition to this new rule,

5568-427: The president and chairman of the Commerce, with a proposal to merge the two banks. Their first meeting took place secretively at McKinnon's house at 116 Dunvegan Road in Forest Hill , making the house the birthplace of the CIBC. According to Mackersy, within ten minutes he and McKinnon reached an agreement to merge their banks. On 1 June 1961, the Canadian Bank of Commerce and the Imperial Bank of Canada merged to form

5655-585: The public. In 1988, CIBC acquired a majority interest in Wood Gundy which brought a well-respected name and reputation in underwriting. Shortly thereafter, the corporation merged Wood Gundy and CIBC Securities under the name CIBC Wood Gundy which became CIBC Oppenheimer in 1997 and later, CIBC World Markets . In 1992, CIBC introduced automated telephone banking; in 1995 the bank launched its website, and shortly thereafter began offering banking services online. In 1996, CIBC formed HP Intria Items, alongside Hewlett-Packard and Fiserv Canada. In 2005, CIBC acquired

5742-494: The reputation of the Commonwealth and confirm the opinion of many people and civic organisations that the leaders of its governments do not really care for democracy and human rights, and that its periodic, solemn declarations are merely hot air." In 2022, the former French territories of Togo and Gabon joined the Commonwealth. The Commonwealth comprises 56 countries, across all inhabited continents. 33 members are small states, including 25 small island developing states. In 2023,

5829-425: The same period. The Canadian Bank of Commerce opened its new head office in Toronto in 1931. An observation gallery on the 32nd floor attracted visitors who could get an aerial view of the city. At a height of 145 metres (476 ft), it was the tallest building in the Commonwealth of Nations until 1962 with the completion of CIBC Tower in Montreal. In 1936, the Commerce was the first Canadian bank to establish

5916-403: The same person is monarch of each realm. At a time when Germany and France, together with Belgium, Italy, Luxembourg, and the Netherlands, were planning what later became the European Union , and newly independent African countries were joining the Commonwealth, new ideas were floated to prevent the United Kingdom from becoming isolated in economic affairs. British trade with the Commonwealth

6003-423: The same term [REDACTED] This disambiguation page lists articles associated with the title Imperial Bank . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=Imperial_Bank&oldid=1246079493 " Category : Disambiguation pages Hidden categories: Short description

6090-410: The same time, it is made perfectly clear that each country is completely free to go its own way; it may be that they may go, sometimes go so far as to break away from the Commonwealth...Otherwise, apart from breaking the evil parts of the association, it is better to keep a co-operative association going which may do good in this world rather than break it. The London Declaration is often seen as marking

6177-399: The same year, CIBC signed a 10-year agreement with TSYS of Columbus, Georgia to outsource credit card processing operations. In 2004, the bank sold Juniper Financial Corporation to Barclays Bank . Juniper Financial was previously acquired by CIBC in 2001. The bank sold EDULINX Canada Corporation to Nelnet Canada Inc., the Canadian unit of Nelnet, Inc. , in late 2004. Li Ka Shing was

6264-572: The same year, CIBC's stock ticker symbol on the New York Stock Exchange changed from BCM to CM to bring it in line with the ticker symbol on the Toronto Stock Exchange . In December 2006, CIBC acquired majority control of its publicly held joint venture FirstCaribbean International Bank for just over US$ 1 billion, ( Bds$ 2 billion), when it purchased the 43.7% stake owned by Barclays Bank. CIBC rebranded

6351-628: The shares of the company from Fiserv Canada, resulting in Intria Items becoming a unit of CIBC. In 1998, CIBC joined with Loblaws to create President's Choice Financial which it launched in 28 Ottawa area stores. CIBC agreed to merge with the Toronto-Dominion Bank in 1998. However the Government of Canada , at the recommendation of the minister of finance , Paul Martin , blocked the merger – as well as another proposed by

6438-535: The time of the Suez Crisis in 1956, and in the face of colonial unrest and international tensions, French prime minister Guy Mollet proposed to British prime minister Anthony Eden that their two countries be joined in a "union" . When that proposal was turned down, Mollet suggested that France join the Commonwealth, possibly with "a common citizenship arrangement on the Irish basis ". These ideas faded away with

6525-756: The vast majority of which are former territories of the British Empire from which it developed. They are connected through their use of the English language and historical-cultural ties. The chief institutions of the organisation are the Commonwealth Secretariat , which focuses on intergovernmental relations, and the Commonwealth Foundation , which focuses on non-governmental relations between member nations. Numerous organisations are associated with and operate within

6612-553: The worst results in the history of the bank. Kassie afterwards founded Genuity Capital and was alleged to have raided 20 key employees from World Markets for his new startup, causing CIBC to file suit. Gerald T. McCaughey became Kassie's replacement heading World Markets and in February 2004, was promoted to president and chief operating officer, assuring his succession as CEO. Shortly after assuming his position, McCaughey reportedly dismissed Jill Denham, vice chair of retail markets and

6699-418: Was Arnold Smith of Canada (1965–1975), followed by Sir Shridath Ramphal of Guyana (1975–1990), Chief Emeka Anyaoku of Nigeria (1990–1999), and Don McKinnon of New Zealand (2000–2008). Some member states grant particular rights to Commonwealth citizens. The United Kingdom and several others, mostly in the Caribbean , grant the right to vote to resident Commonwealth citizens. Some countries, including

6786-586: Was a Belgian trust territory that had been a district of German East Africa until World War I . In 2022, Togo , a former French mandate territory, and Gabon , a former French colony, joined the Commonwealth, despite never having been under British rule. Gabon was partially suspended from the Commonwealth in September 2023 following a military coup , with two years given by the Commonwealth Ministerial Action Group for

6873-709: Was a minority shareholder in Major League Baseball 's Toronto Blue Jays , with partner Labatt's Breweries from their inception in 1977. The CIBC Leadership Centre in King City , was sold to Benchmark Hospitality in 2001. In 2002, CIBC disbanded Amicus FSB, and sold its assets to E*Trade Bank. Amicus FSB was formed in 1999 in the United States with Winn Dixie and Safeway Inc. under the Marketplace Bank and Safeway Select Bank brands. In

6960-611: Was considered an "exceptional circumstance" by the Commonwealth Secretariat . Rwanda was permitted to join despite the Commonwealth Human Rights Initiative (CHRI) finding that "the state of governance and human rights in Rwanda does not satisfy Commonwealth standards", and that it "does not therefore qualify for admission". CHRI commented that: "It does not make sense to admit a state that already does not satisfy Commonwealth standards. This would tarnish

7047-448: Was formally constituted by the London Declaration in 1949, which modernised the community and established the member states as "free and equal". It continues to be known colloquially as the British Commonwealth . The Head of the Commonwealth is Charles III . He is king of 15 member states, known as the Commonwealth realms , whilst 36 other members are republics , and five others have different monarchs. Although he became head upon

7134-482: Was four times larger than its trade with Europe. In 1956 and 1957, the British government, under Prime Minister Anthony Eden , considered a "Plan G" to create a European free trade zone whilst also protecting the favoured status of the Commonwealth. The United Kingdom also considered inviting Scandinavian and other European countries to join the Commonwealth, so that it would become a major economic common market. At

7221-399: Was gradually dismantled. Most of its components have become independent countries, whether Commonwealth realms or republics, and members of the Commonwealth. There remain the 14 mainly self-governing British overseas territories which retain some political association with the United Kingdom. In April 1949, following the London Declaration , the word "British" was dropped from the title of

7308-475: Was originally known as " special membership ", but was renamed on the Committee on Commonwealth Membership 's recommendation. There are currently no members in arrears. The most recent member in arrears, Nauru, returned to full membership in June 2011. Nauru had alternated between special and full membership since joining the Commonwealth, depending on its financial situation. In 2019, the Commonwealth members had

7395-416: Was rebranded as CIBC FirstCaribbean International Bank . In 2010, CIBC acquired a 22.5% equity of Butterfield Bank of Bermuda . CIBC is well known for its publicized battles of succession to the top position of president and CEO (formerly styled chairman and CEO until 2003 when the positions were separated). When Al Flood became CEO, one of his first acts was to fire his chief rival Paul Cantor. In 1999,

7482-592: Was set out in 1961, when it was decided that respect for racial equality would be a requirement for membership, leading directly to the withdrawal of South Africa's re-application (which they were required to make under the formula of the London Declaration upon becoming a republic). The 14 points of the 1971 Singapore Declaration dedicated all members to the principles of world peace , liberty , human rights , equality , and free trade . These criteria were unenforceable for two decades, until, in 1991,

7569-476: Was the only chartered bank to have a branch on-site at Expo 67 . Also at this time computerization began to change banking services and the Yonge and Bloor branch in Toronto was the first Canadian bank branch to update customer bank books via computer. This also marked the introduction of inter-branch banking. Before the decade was out, CIBC had introduced the first 24-hour cash dispenser, which would eventually become

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