CIBC FirstCaribbean opens private wealth management office

CIBC FirstCaribbean has officially launched its Private Wealth Management Cayman office. The Cayman office is the first of what will eventually be six such offices throughout the region.

Cayman will be the regional base for this particular area of CIBC FirstCaribbean’s business, according to Mark McIntyre, managing director and country head for CIBC FirstCaribbean (Cayman).

“It makes sense that Cayman would boast the flagship office as our jurisdiction’s reputation for excellence in both service and quality of financial products and offerings is both well-documented and well-earned,” he said. “This, coupled with the strong, established backing of the CIBC name, guarantees that we are more than capable of meeting the complex financial requirements of our clients with professional, sophisticated attention and sound wealth management expertise.”

The private wealth management team provides customized solutions in five key areas including investment planning and asset management, credit planning and management, wealth protection and structuring, cash management and business planning.

“We understand that [our clients’] lifestyles, finances and investments are complex which dictate a higher level of service and professional attention than most,” Mr. McIntyre said.

CIBC Bank and Trust Company (Cayman) Ltd. has offered private wealth management services for many years. The business in Cayman was led by CEO Ben Gillooly, who recently retired but has stayed on as chairman. Dan Wright will take on dual roles of managing director of CIBC Bank & Trust (Cayman) Ltd. and managing director of CIBC FirstCaribbean Private Wealth Management.

CIBC FirstCaribbean will eventually operate private wealth management offices in The Bahamas, Barbados, Jamaica, Trinidad & Tobago and Curacao, the bank said.