Mark Usher takes on the role of president and executive managing director of CIBC Innovation Banking as of Feb. 28
has promoted Mark Usher to lead its innovation banking unit on the heels of Mark McQueen announcing his departure last week after five years at the lender.
backing early- and mid-stage technology companies with a $300-million fund. Mr. McQueen was the chief executive officer of the firm. “Mark [Usher] has a proven track record and has established himself as a dedicated and client-focused leader who is well-positioned to continue to build our business in the innovation ecosystem on both sides of the border,” Canadian banking head Jon Hountalas said in a statement.
CIBC’s innovation unit has expanded its loan book to $2.9-billion from $400-million over three years and boosted profits before taxes to $59-million from $12-million, according to an investor presentation in 2022.
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