CIBC (TSX: CM) (NYSE: CM) has been included in the Bloomberg Gender-Equality Index (GEI) for the sixth consecutive year, in recognition of the bank's commitment to fostering gender equality in the workplace and communities it serves. The GEI tracks public companies committed to disclosing their efforts to support gender equality through policies, representation and transparency.
"Gender-balanced leadership, and tailoring our advice and expertise to help our women clients achieve their ambitions are key components in our approach to inclusion and diversity," said Sandy Sharman, Group Head, People, Culture and Brand, CIBC. "We are committed to championing women in the workplace and building a more inclusive economy."
In 2020, CIBC continued to improve the gender balance of its executive leadership ranks, invested in the inclusive leadership capabilities of its global team, and supported external organizations that invest in women. Actions include:
- 40 per cent of CIBC's executive committee members are women, demonstrating performance against a target that between 35 and 40 per cent of Board-approved executive roles must be held by women.
- 40 per cent of CIBC's current board is made up of women. In December 2020, CIBC announced that in April 2021, Katharine Stevenson will be appointed Chair of the Board
- Three CIBC leaders received WXN's Top 100 Most Powerful Women award in 2020:
- Kikelomo Lawal, EVP and Chief Legal Officer;
- Veni Iozzo, EVP, Enterprise Real Estate and Workplace Transformation;
- Fatema Pirone, Senior Director, Enterprise Innovation.
For the community:
- CIBC invests in and partners with organizations supporting the unique needs of women, including:
- StandUp Ventures, a seed stage firm investing in women-led companies;
- Interval House, which helps women break the cycle of violence through employment, counselling and housing support;
- Founding contributor of the Canadian Council for Aboriginal Business' Indigenous Women Entrepreneurship Fund.
- CIBC sponsors and donates to several organizations that support the advancement of women, including: Women in Capital Markets, Catalyst, Hackergal, and the Jean Augustine Centre for Young Women's Empowerment.
- CIBC has made several public commitments toward building a more equitable society, such as becoming a signatory of the UK Women in Finance Charter, the Catalyst Accord, the UN Women's Empowerment Principles and as supporters of the 30% Club Canada.
- CIBC is committed to supporting our women clients' unique financial needs by offering tailored advice and tools to help them achieve their ambitions and provide training to all client-facing team members to help them recognize and disrupt gender bias.
- To celebrate International Women's Day 2020, CIBC hosted more than 100 financial wellness sessions for women in communities across Canada.
More on CIBC's commitment to gender-balance leadership can be found in the 2019 Sustainability Report.