CIBC has announced plans to appoint Stephen Scholtz – who most recently served as the North American bank’s general counsel for Canada – as its new global chief legal officer, among other senior leadership appointments to its group executive leadership team.
“Stephen is a respected leader on our team, and he is well positioned to take on the leadership of our legal affairs globally,” said Harry Culham, who will be CIBC’s president and chief executive officer as of Nov. 1, in a news release.
Scholtz’s LinkedIn page provides more information about his work experience. At CIBC in Toronto, he held the Canadian roles of senior vice president and general counsel beginning in November 2017, vice president and deputy general counsel beginning in December 2014, and vice president and associate general counsel – head of litigation and employment law beginning in 2006.
“His expertise across various facets of legal and wise counsel will be an asset as he steps into his new role,” Culham said of Scholtz.
Before joining CIBC, Scholtz worked as a lawyer at Ogilvy Renault LLP from 1998–2006 and at McCarthy Tetrault from 1991–98, according to his LinkedIn page. He studied at the University of Ottawa.
“Our strategic investments and our people have enabled our growth, and the changes we're announcing today will help position us for the future,” Culham said of the new appointments. “Each of these leaders brings exceptional experience, a proven track record of performance and exemplifies our purpose-led and collaborative culture.”
Retirements
Aside from its recently announced appointments, CIBC mentioned a number of leadership retirements in its news release.
Kikelomo Lawal, executive vice president and chief legal officer, will retire from CIBC. In her position, she oversaw the bank’s legal, corporate governance, client complaints, and government relations, and spearheaded its enterprise ESG strategy development.
“Kikelomo is an accomplished leader and legal professional, and she has been instrumental in building and embedding sustainability into our operations, which will help guide our efforts for years to come,” Culham said in CIBC’s news release.
Shawn Beber – senior executive vice president and group head for the US region and president and CEO of CIBC Bank USA – will begin serving as special advisor on Nov. 1 and retire on July 1, 2026, after 23 years with the bank. He previously served as CIBC’s chief risk officer, general counsel, head of strategy and corporate development, and head of US capital markets.
“During his tenure, Shawn has brought deep expertise and knowledge of both financial services and our bank,” Culham said. “He has been instrumental in our progress in the U.S., ensuring that we have a strong, diversified cross-border platform and a disciplined, risk controlled approach to growing the business.”