Advances North American growth strategy for CIBC’s Wealth Management
business

TORONTO, April 11, 2013 /PRNewswire/ – CIBC (TSX: CM) (NYSE: CM) announced today that it has entered into a definitive agreement to
acquire Atlantic Trust Private Wealth Management from its parent
company, Invesco. Atlantic Trust manages approximately US$20 billion in
assets on behalf of its clients through 12 metropolitan locations
across the United States. The firm provides integrated wealth
management solutions for high-net-worth individuals, families,
foundations and endowments through a team of 235 relationship
management, investment management, wealth strategies and support
professionals.

“The Atlantic Trust acquisition aligns with our strategy to grow our
wealth management business in North America,” said CIBC President and
CEO Gerry McCaughey.

“Atlantic Trust provides CIBC with an attractive entry into the U.S.
private wealth market, where high-net-worth personal financial assets
are growing 50 per cent faster than those of the average U.S.
household,” said Victor Dodig, Senior Executive Vice-President, CIBC
and Group Head, Wealth Management.

“This transaction further enhances our private wealth management
offering to high-net-worth clients and is consistent with our
acquisition of MFS McLean Budden in Canada,” said Dodig. “It also
strengthens our position in the U.S. market where we have established a
presence in asset management through our separate and strategic
investment in American Century.”

Atlantic Trust, under the leadership of Jack S. Markwalter, Jr.,
Chairman and CEO, was recognized in 2013 by Private Asset Management as
the Best Wealth Manager: Long-Term Performance (3 years)¹ among firms with more than US$5 billion in assets under management and
has been recognized by Barron’s as one of the Top 40 Wealth Managers.²

“CIBC and Atlantic Trust share a commitment to delivering personalized
service and a high level of value to clients,” said Martin L. Flanagan,
President and CEO of Invesco Ltd. “CIBC will build on Atlantic Trust’s
legacy of investment excellence, strategic wealth planning and
extraordinary service to further enhance the firm’s ability to deliver
meaningful solutions for high-net-worth clients across the U.S.”

Under the terms of the transaction, CIBC will acquire Atlantic Trust for
US$210 million, in an all-cash transaction that is expected to close,
subject to regulatory approval, in the second half of 2013 and will be
accretive to adjusted earnings per share in fiscal 2014. At closing,
the transaction is expected to reduce CIBC’s Basel III Common Equity
Tier 1 ratio by approximately 20 basis points on a pro forma basis as
at January 31, 2013.

About CIBC

CIBC is a leading Canadian-based global financial institution. Through
our Retail and Business Banking, Wealth Management and Wholesale
Banking businesses, CIBC provides a full range of financial products to
individual, small business, commercial, corporate and institutional
clients in Canada and around the world.

CIBC Wealth Management provides relationship-based advisory services and
an extensive suite of leading investment solutions to meet the needs of
personal, institutional and high-net-worth clients through an extensive
distribution network, that includes CIBC Private Wealth Management,
CIBC Wood Gundy and CIBC Investor’s Edge. Our asset management, retail
brokerage and private wealth management businesses combine to create an
integrated offer, delivered through nearly 1,500 advisors across
Canada. In addition, CIBC Asset Management provides global money
manager services to institutional and high-net-worth clients and
industry-leading retail investment solutions through our two mutual
fund families – CIBC and Renaissance – and the CIBC family of managed
portfolio solutions.

About Atlantic Trust

Atlantic Trust is one of the United States’ leading private wealth
management firms, offering integrated wealth management for
high-net-worth individuals, families, foundations and endowments. The
firm considers clients’ financial, trust, estate planning and
philanthropic needs in developing customized asset allocation and
investment management solutions. Experienced professionals deliver a
broad range of solutions, including proprietary investment offerings
and a robust multi-manager investment platform of traditional and
alternative managers. For more information, visit www.atlantictrust.com.

About Invesco

Invesco Ltd. is a leading, independent, global investment management
firm dedicated to helping investors worldwide achieve their financial
objectives. By delivering the combined power of our distinctive
investment management capabilities, Invesco provides a wide range of
investment strategies and vehicles to our retail, institutional and
high-net-worth clients around the world. Operating in more than 20
countries, the firm is listed on the New York Stock Exchange under the
symbol IVZ.

A NOTE ABOUT FORWARD-LOOKING STATEMENTS: From time to time, we make
written or oral forward-looking statements within the meaning of
certain securities laws, including in this press release report, in
other filings with Canadian securities regulators or the U.S.
Securities and Exchange Commission and in other communications. These
statements include, but are not limited to, statements about our
operations, business lines, financial condition, risk management,
priorities, targets, ongoing objectives, strategies and outlook.
Forward-looking statements are subject to inherent risks and
uncertainties that may be general or specific. A variety of factors,
many of which are beyond our control, could cause actual results to
differ materially from the expectations expressed in any of our
forward-looking statements. We do not undertake to update any
forward-looking statement except as required by law.

______________________________

¹ As named by Private Asset Management (February 2013)
² Barron’s: ranked by client assets in accounts of $5 million or more as
of June 30, 2012

SOURCE CIBC – Investor Relations