Christian Exshaw will lead the bank’s capital markets division after serving as its deputy head since last year. Christina Kramer will become chief administrative officer and continue to lead CIBC’s innovation group, Stephen Scholtz has been promoted to global chief legal officer after serving as general counsel for Canada, and Amy South will lead the office of the CEO and serve as chief of staff. (The Logic)

Talking point: The shakeup comes as CIBC prepares for Harry Culham, former head of capital markets, to replace Victor Dodig on Nov. 1. Dodig has served as CEO for 11 years and has worked at CIBC for two decades. It’s CIBC’s third leadership shakeup in a year and a half, as the bank joined other major Canadian lenders focusing on succession planning. CIBC’s stock is on a tear, replacing rival Scotiabank as Canada’s fourth most valuable bank last month for the first time since the early 2000s.