CIBC Puts Grand Expansion Plans In Motion Cornford To Hire 40 New Traders In London

BANKS

In the three and a half months since he was hired away from Chemical Bank to head Canadian Imperial Bank of Commerce's (CIBC) European treasury operation (FX Week, October 12), Michael Cornford has certainly shaken things up. Aiming to completely rebuild CIBC's foreign exchange presence in London, Cornford first laid off eight of the bank's 20 traders and now intends to hire about 40 new ones over the course of 1991.

"We feel that the bank is now more a North American than a strictly Canadian