CIBC snaps up Golombek

CIBC has appointed Jamie Golombek to the role of managing director, tax and estate planning for its retail markets division, effective July 14.

In the new role, Golombek will be working with advisors from CIBC’s various lines of business, including CIBC Private Wealth Management, Wood Gundy, Imperial Service. His loyal readers can take heart, though — he says CIBC has encouraged him to keep up his good work as a columnist for publications like Advisor’s Edge Report.

Golombek is the latest in a strong of high-profile departures from AIM Trimark Investments, where he served as vice-president, tax and estate planning.

“AIM Trimark continues to be an outstanding company,” Golombek said in an interview with Advisor.ca. “The people here operate with the highest integrity and that was really demonstrated when I resigned earlier this week; I got nothing but encouragement. People understood my decision.

“The firm has always shown me enormous respect, they’ve always given me complete independence and I’m leaving on outstanding terms.”

Golombek singled out AIM Trimark’s president Peter Intraligi, who he said is “doing a fantastic job managing through not just my departure, but other high-profile departures. I’m confident that AIM Trimark is in excellent hands.”

AIM Trimark has already named Golombek’s successor: Doug Carroll has stepped into the role of vice-president of tax and estate planning.

The move leaves little time for a break, however, as Golombek is working at AIM Trimark until July 11, tying up loose ends. He points out that he is not joining CIBC’s mutual fund division.

“I am not going to a competitor,” he says. “I am going to one of AIM Trimark’s best clients, because [CIBC] sells AIM Trimark Investments through all its branches. While people here are sad to see me go, I think people understand that it’s time for me to make a change. I’ve been here for 12 years and I’ve been doing pretty much the same thing for the last seven-and-a-half years. It’s time for a new challenge for me.

“CIBC is an outstanding organization, with all kinds of reach across Canada. I’ll be working specifically with advisors from their private wealth management area. I’ll be working with their high net worth clients, helping to review their overall tax and estate plan.”

Golombek says the new position appeals to him, as he will be working directly with clients as well as CIBC’s advisors, something he did not get to do at AIM Trimark. It is something of a return to his roots.

“This is something I did years ago, when I was a tax person at Deloitte & Touche, we used to deal specifically with clients,” he says. “I lost touch with the end client over the past number of years, and this will be a chance for me to reconnect with clients of the advisors.”

CIBC also announced the appointment of Duncan Webster as chief investment officer and head of CIBC Global Asset Management. Webster is a 20-year veteran of the industry, serving most recently as head of portfolio strategies and capital markets, group investments at Allianz SE in Munich, Germany.

Filed by Steven Lamb, Advisor.ca, steven.lamb@advisor.rogers.com

(06/19/08)