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Sep 18, 2017

CIBC to rebrand The PrivateBank at dozens of U.S. locations

CIBC's growth in Q3 shows sweetened PrivateBancorp bid was worth it: Willis

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The Canadian Imperial Bank of Commerce is extending its brand across the U.S. by renaming dozens of recently-purchased locations south of the border as CIBC Bank USA.

The Canadian lender closed its acquisition of Chicago-based PrivateBancorp in June.

Today, the bank announced it is replacing the U.S. company's brand called The PrivateBank with the CIBC name on 36 branches and commercial banking offices.

A soccer field and a theatre in Chicago have also been renamed as the CIBC Fire Pitch and the CIBC Theatre.

CIBC bought the U.S. bank for approximately $5 billion US in a bid to secure its foothold in the country.

The Canadian bank has said it hopes to one day generate a quarter of its earnings in the U.S.