FirstCaribbean to take on parent company's name
A gradual transition to the new CIBC FirstCaribbean International Bank will take place over the coming months.
BRIDGETOWN, Barbados, Thursday June 22, 2011 – FirstCaribbean International Bank has announced that it will be branded under the CIBC banner by adopting the co-branding ‘CIBC FirstCaribbean International Bank.’
FirstCaribbean’s parent company, CIBC, is one of Canada’s largest banks with offices in major financial centres around the world. As an important member of the CIBC group of companies, CIBC FirstCaribbean will be adopting new branding elements to be more closely aligned to the CIBC brand, while still maintaining the FirstCaribbean name and local identity, the company said.
“By joining together the strong branding identities of both CIBC and FirstCaribbean, CIBC FirstCaribbean represents the proud heritage and uniqueness of the Caribbean backed by the financial strength of CIBC, one of the largest and best capitalized banks in Canada,” explained Michael Mansoor, the bank’s Executive Chairman.
“CIBC is one the leading banks in Canada, and Canada’s banking system has been ranked as the best in the world by the Geneva-based World Economic Forum for the last three years,” he added. “And in May, the Bloomberg Markets magazine named CIBC the fourth strongest bank in the world, so linking the FirstCaribbean brand with CIBC will leverage this financial strength and world class recognition.”
The transition to the new CIBC FirstCaribbean identity will be gradual over the coming months as the CIBC FirstCaribbean brand is introduced to operations across the Caribbean region.
“The addition of CIBC to the FirstCaribbean brand emphasizes CIBC’s long-term commitment to the Caribbean region, our employees and our clients,” emphasized the bank’s CEO John Orr.
“Our clients and our employees across the Caribbean will continue to benefit from the long-term investment that CIBC is making in the region that dates back to our first branches opened in 1920.”
CIBC FirstCaribbean will continue to operate as a Caribbean-managed business within the CIBC group of companies, and will continue to be traded on the stock exchanges of Barbados, Trinidad, Jamaica, the Bahamas and the Eastern Caribbean Securities Exchange.
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