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An Unemployed Woman
CIBC # 3 Takes Kassie Highway

Every Canadian knows that 20 top bankers (and Marie Cordero) recently left the CIBC to join their ex-boss, Wonderboy David Kassie, at Genuity Capital Markets.

Now the CIBC has axed it's No.3 executive, Jumpin' Jill Denham, Vice Charwoman and Head of Consumer Banking.

CIBC spokesman, Bobby Waite, struggled to hide the truth but, by now, everyone knows the (Soviet-style) code. Like Dave, Jill has left the bank to "pursue other interests".

After some run-ins with the law a few years back, CEO, Handsome John Hunkin, decided to shift his interests from corporate to consumer lending.

And, in order to boost earnings from consumer banking, Jumpin' Jill had to go. But don't feel too bad; she earned $2.1 million Cdn last year in salary and bonus. (That's $1.7 mill US funds).

Sonia "Baxie" Baxendale, age 42, will replace Jill. Her new title is Sr EVP Retail Markets. Vic Dodig, age 39, was hired from UBS Global Asset Management to take her place as head of the asset-management division. Both report to Dave Kassie's old friend and replacement, COO, Gerry McCaughey.

As for Jill's next step? Only, time, will tell.

Based on a story in: Bloomberg.com: David Scanlan reporting in Toronto; Erik Schatzker is his editor in New York

Technorati Tag: Genuity

See Also: GenuityGang Strikes Back -- CIBC Recruiting Scandal -- David Kassie, Kingpin -- David Kassie's Dream -- Dan Daviau -- Earl Rotman -- Kassie Defiant -- Phil Evershed -- Hirst, Morrison, Eggertson -- Marie Cordero -- Bad 4 Recruiters -- Sweet Marie -- The Kassie Cult -- Kassie Honoured -- Hunkin's Millions -- BlackBerry Got 'Em -- Kassie Family Hunted -- Blackberry Mystery Solved -- The Genuity Revolution