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"Canadian Imperial Bank of Commerce would consider spending as much as US$1.8 billion) on wealth-management takeovers, incoming Chief Executive Officer Victor Dodig said, setting a new ceiling for acquisitions by the country\u2019s fifth-biggest bank.'I would say that the right size for us at this point in time would be up to C$2 billion,' Dodig, who becomes CEO when Gerald McCaughey retires September 15th, said at an investor conference in Toronto. 'We&amp;rsquo;ve been quite clear in that we&amp;rsquo;re most interested in the wealth-management space.' Bloomberg News reports CIBC has said it seeks to boost earnings contribution from its wealth-management unit to 15% from 11% last year. McCaughey said a year ago that the Toronto-based bank was raising its target for acquisitions to more than C$1 billion to help reach that goal. Dodig, 49, said he&amp;rsquo;s focusing on asset managers and private-wealth companies in the U.S., where CIBC has made previous acquisitions. Hit the link below to access the complete Bloomberg News article: CIBC Raises Ceiling on Wealth Deals to $1.8 Billion Manulife to Buy Standard Life Canada Unit for C$4 BillionAnd the Best Place to Work in the global financial markets 2015 is..."^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.hitc.com/en-gb/2014/09/04/18-billion-takeovers-are-ok-for-cibc/>