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Dominion Lending Centres Clearlease Reports CIBC announces leadership appointmentsDominion Lending Centres Clearlease Reports CIBC announces leadership appointmentsDominion Lending Centres Clearlease Reports CIBC announces leadership appointments

Dominion Lending Centres Clearlease Reports CIBC announces leadership appointments

VANCOUVER, BC – (May 12, 2011) Clearlease Reports CIBC (Toronto:CM.TO) (NYSE: CM) today announced a number of senior level appointments to further build on the bank’s performance and to support the client-focused implementation of its business strategy.

Specifically, the following appointments are being made today:

* Geoff Belsher, Managing Director and Global Head, Investment Banking, and Harry Culham, Managing Director and Global Head, Capital Markets Trading, have been named Group Co-Heads, Wholesale Banking, CIBC.
o Mr. Belsher will maintain management of CIBC’s global investment banking business and assume reporting responsibility for regional offices in New York, London and Hong Kong.
o Mr. Culham will assume global responsibility for all Wholesale Banking Capital Markets businesses, including Fixed Income, Currencies and Distribution; Cash Equities; Global Derivatives and Strategic Risk; and management of our Chief Investment Officer activities.
o In their new roles, Mr. Belsher and Mr. Culham will have joint responsibility for the day-to-day operation of the Wholesale Banking business.
* Corporate banking, real estate lending and trading credit are key strategic priorities for the Wholesale Banking business. In support of this, Corporate Credit Products, led by Laura Dottori as Managing Director and Global Head, will be expanded to include the portfolio management of all Wholesale lending and credit activities. In her leadership role, Ms. Dottori will be responsible for oversight of all credit activities on behalf of Wholesale Banking.
* John Orr, Chief Executive Officer, FirstCaribbean International Bank (FCIB), is appointed Executive Vice-President, Strategy and Corporate Development, CIBC, based in Toronto. Replacing Mr. Orr as the new CEO of FirstCaribbean is Rik Parkhill, currently Managing Director and Head, Cash Equities. Mr. Parkhill will be based in Barbados and will assume this role over the next few months, pending regulatory approvals.

“These appointments position us well to continue our focus on delivering consistent, sustainable results in our core client-focused businesses while pursuing further opportunities for risk-controlled growth over the next three years,” said Richard Nesbitt, Senior Executive Vice President, CIBC, and Group Head, Wholesale, International and Technology and Operations.

CIBC is a leading North American financial institution with nearly 11 million personal banking and business clients. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, and has offices in the United States and around the world. You can find other news releases and information about CIBC in our Press Centre on our corporate website at www.cibc.com.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
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Twitter: @clearlease

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Video Link: http://youtu.be/f_kk7WJa7Uk

Specifically, the following appointments are being made today:

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Contact DLC Clearlease.com:

Video Link: http://youtu.be/f_kk7WJa7Uk

Dominion Lending Centres Clearlease Reports CIBC announces leadership appointments

Specifically, the following appointments are being made today:

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Contact DLC Clearlease.com:

Video Link: http://youtu.be/f_kk7WJa7Uk

Dominion Lending Centres Clearlease Reports IMF says strengthening Europe’s shaky banks key to turning page on crisis, preventing new 1

VANCOUVER, BC – (May 12, 2011) Clearlease Reports The International Monetary Fund is urging Europe to push shaky banks to strengthen their finances as the best way to keep the debt crisis in Greece, Portugal and Ireland from hitting a growing eurozone economy.

The Washington, DC-based international organization says stress tests are a key opportunity to fix banks by forcing those found to be weak to raise new capital, which can be done by investors or government stumping up more money.

The issue is important to the rest of the economy because a number of banks hold Greek, Irish and Portuguese debt, complicating efforts to resolve those countries debt problems. A default or restructuring of that debt could hit banks so hard they wouldn’t be able to loan money to companies, spreading financial trouble to the wider economy.

Antonio Borges, director of the IMF’s European department, said that fears that the troubles in the heavily indebted countries would spread to banks elsewhere had lessened recently. But he said that was not a reason to hold back recapitalizing banks.

“A year ago the situation was much more difficult than today,” Borges said at a news conference in Frankfurt. “This does not mean the situation in the European banking system is solid and strong.”

“This is one area where we think Europe could move a little faster,” he said. “There is no reason for this, because there are plenty of resources, plenty of capital across Europe, and we would appreciate if there was faster action.”

The European banking regulator is running stress tests on banks, with results due in June. A set of tests last year was regarded as too easy to restore confidence in the system. Some economists say that national regulators are reluctant to crack down on their own banks for fear of disadvantaging them in competition with banks in other countries.

Raising new capital also dismays shareholders as they are asked to either put in more money or see their holdings diluted by new share issues.

The IMF estimates that the 17 countries that use the euro will see growth of 1.7 per cent this year and 1.9 per cent next year, if debt crises don’t derail the economy.

“Financial linkages between countries with sovereign debt troubles and the rest of Europe could potentially pose more risk to the outlook,” the IMF said in its regional economic outlook for Europe released Thursday.

With it said banks holding bonds from indebted countries, a shock to confidence could spread quickly throughout Europe.

Figures Thursday provided some evidence that Europe’s recovery has slowed down. Eurostat, the EU’s statistics office, revealed that industrial production fell 0.2 per cent in March from the previous month. The decline was unexpected as the consensus in the markets was for a modest increase during the month. It also represented the first monthly fall since last September.

The industrial production figures were released a day ahead of the first estimate of eurozone economic growth in the first quarter. At the moment, the consensus in the markets is that the economy grew by a fairly healthy 0.6 per cent during the first three months of the year, with output recovering from the previous quarter’s 0.3 per cent, when economic activity was hurt by snow storms across Europe.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Contact DLC Clearlease.com:

Video Link: http://youtu.be/f_kk7WJa7Uk

Raising new capital also dismays shareholders as they are asked to either put in more money or see their holdings diluted by new share issues.

The IMF estimates that the 17 countries that use the euro will see growth of 1.7 per cent this year and 1.9 per cent next year, if debt crises don’t derail the economy.

With it said banks holding bonds from indebted countries, a shock to confidence could spread quickly throughout Europe.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Contact DLC Clearlease.com:

Video Link: http://youtu.be/f_kk7WJa7Uk

Dominion Lending Centres Clearlease Reports IMF says strengthening Europe’s shaky banks key to turning page on crisis, preventing new 1

Raising new capital also dismays shareholders as they are asked to either put in more money or see their holdings diluted by new share issues.

The IMF estimates that the 17 countries that use the euro will see growth of 1.7 per cent this year and 1.9 per cent next year, if debt crises don’t derail the economy.

With it said banks holding bonds from indebted countries, a shock to confidence could spread quickly throughout Europe.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Contact DLC Clearlease.com:

Video Link: http://youtu.be/f_kk7WJa7Uk

Dominion Lending Centres Clearlease Reports World shares dragged down by slackening oil demand, Wall Street fall

VANCOUVER, BC – (May 12, 2011) Clearlease Reports World share markets sank Thursday after a slide on Wall Street sparked by tumbling demand for oil and fears of slackening growth in the U.S.

Oil prices hovered near $98 a barrel, continuing two weeks of volatile sea-saw trading. The dollar was up against the yen and the euro.

European shares were lower in early trading. Britain’s FTSE 100 fell 0.9 per cent to 5,924.76, while Germany’s DAX dropped 1.1 per cent to 7,416.21. France’s CAC-40 lost 1.1 per cent to 4,013.45.

U.S. futures pointed to a lower opening on Wall Street, with Dow Jones industrial futures down 60 points to 12,533 and S&P 500 futures losing 7.7 points to 1,331.

Stocks fared no better in Asia. Japan’s Nikkei 225 index sank 1.5 per cent to close at 9,716.65. South Korea’s Kospi slid 2 per cent to 2,122.65, and Hong Kong’s Hang Seng lost 0.9 per cent to 23,073.76. Australia’s S&P/ASX 200 was off 1.8 per cent at 4,696.10. Benchmarks in Singapore and Indonesia were also lower, while those in Taiwan and Malaysia rose.

Toyota Motor Corp., the world’s largest automaker, jumped 3.1 per cent a day after the company said its efforts to restore full production after a devastating earthquake and tsunami on March 11 were going better than expected.

But a strengthening yen hurt other exporters. Sony Corp. lost 1.9 per cent and Sharp Corp. dipped 1.7 per cent. Both Canon Inc. and Panasonic Inc. slipped 1.3 per cent.

Energy shares suffered declines after crude oil fell 4 per cent to below $100 a barrel on Wednesday and extended its losses on Thursday. Inpex Corp., Japan’s largest energy explorer, drooped 3.6 per cent. PetroChina Co. Ltd., the publicly traded unit of China’s biggest oil and gas company, lost 1.3 per cent. BHP Billiton Ltd., the world’s biggest mining company, fell 2.6 per cent after prices of metals used in manufacturing, like copper, sank.

Mainland Chinese shares extended losses as investors fretted over the economic outlook, after industry figures showed auto sales declined for the first time in more than two years in April.

The benchmark Shanghai Composite Index lost 1.4 per cent to 2,844.08, and the Shenzhen Composite Index of China’s smaller, second exchange fell 1.4 per cent to 1,194.88.

Shares in electricity generators were higher while those in nonferrous metals and gold miners weakened after gold futures fell overnight on the New York Mercantile Exchange.

“Manufacturing might be affected by the domestic auto market’s first negative growth in 27 months in April,” said Yang Yining, an analyst at Capital-edge Investment & Management Co. Ltd., based in Shanghai.

“The market might remain volatile and investors prefer to wait and see what happens,” Yang said.

In the U.S., demand for gasoline fell by the largest amount in seven weeks, the Energy Information Administration said Wednesday, a signal that consumers are conserving money. A drop in consumer and business spending could hurt corporate earnings and halt a rally that has sent U.S. stock markets up 7 per cent this year.

The fall in demand for gas means that traders will take a close look at Thursday’s weekly report on first-time applications for unemployment benefits. If they rise, that could indicate companies are cutting back in other areas as well.

Wall Street fell broadly, a sign of uncertainty about the U.S. economic recovery. The Dow lost 1 per cent to close at 12,630.03. The S&P 500 fell 1.1 per cent to 1,342.08. The Nasdaq composite lost 0.9 per cent to 2,845.06.

Benchmark crude for June delivery was down $1.25 to $96.96 a barrel in electronic trading on the New York Mercantile Exchange. The contract dropped $5.67 to settle at $98.21 on Wednesday.

In currencies, the euro slipped to $1.4194 from $1.4196 late Wednesday. It was worth more than $1.49 just one week ago. The greenback rose to 81.01 yen from 80.97 yen.