CIBC Innovation Banking has appointed Paul McKinlay and Patrick Martin as Executive Managing Directors and Co-Heads, effective November 1, 2024, as Mark Usher retires from his position as President and Executive Managing Director. CIBC Innovation Banking has become an established lender in the innovation economy in North America. Mark joined CIBC with the acquisition of Wellington Financial in 2018 and has served as a key member of the leadership team, with a pivotal role in building the Innovation Banking business.

Over the past six years, CIBC Innovation Banking has deployed $10.8 billion in capital to more than 600 Venture Capital (VC) backed businesses. Mark is succeeded by Paul McKinlay and Patrick Martin. Paul was previously Vice-President and Head of US Originations and joined CIBC with the acquisition of Wellington Financial, where he lived in the Bay Area building Wellington?s presence in Silicon Valley.

For the past two years, Paul has led the US markets operation, with a team of 35 bankers across 10 offices, partnering with technology entrepreneurs, CFOs, VCs, and Growth Equity investors across the US. Patrick has been at CIBC for more than 14 years and moved to the Innovation Banking team in 2021. In his role as Vice-President, Portfolio and Credit Solutions, he has been instrumental in the development of CIBC Innovation Banking?s vision and long-term strategies across the US, Canada and Europe.

The leadership changes come alongside a realignment of the CIBC Innovation Banking team designed to deepen its early and late-stage customer focus and enhance its product offerings across the entire lifecycle of its client base. Amy Olah becomes Managing Director and Head of Canadian and US West Coast Venture Banking, Paul Gibson becomes Managing Director and Head of US East Coast Venture Banking, and Andrew Phillips becomes Managing Director and Head of Sponsor Finance.