CIBC has completed its acquisition of PrivateBancorp for $3.8bn.

CIBC, a financial institution, has completed its acquisition of PrivateBancorp, a high-quality Chicago-based middle market commercial bank for $3.8bn. "Acquiring PrivateBancorp accelerates our strategy of building a strong, innovative and client-focused bank by creating opportunities to bank across borders for our Canadian clients, and offering more services to our private wealth clients at Atlantic Trust." Victor G. Dodig, CIBC President and Chief Executive Officer.