CANADIAN IMPERIAL BANK OF COMMERCE American Century Investment Management Inc. seeks acquisitions. Wealth Management division of Canadian Imperial Bank of Commerce (CIBC) division "should be bigger," Chief Executive Officer Gerry McCaughey said. He says the only way to "move the dial in a reasonable period of time" is via acquisition.
He's looking for acquisition in the $750 million to $800 million range, and maybe higher. He says wealth management business' preference is to support internal growth and acquisitions by American Century.
