CIBC's $100 Million+ Retention Plan for Its Stockbrokers

The Globe and Mail, Andrew Willis & Boyd Erman, 7 March 2008Canadian Imperial Bank of Commerce rolled out a $100-million-plus retention plan Thursday aimed at preventing defections among 1,300 stockbrokers at the bank, which has been battered by U.S. credit woes.CIBC will advance up to $300,000 to its financial advisers in the form of a loan that will be forgiven over 10 years, providing the