Traders on CIBC’s trading floor.CHARLA JONES/The Globe and Mail
CIBC World Markets is shuffling leaders within its equity sales and trading team, parting ways with two top names in the process.
Mark Ernst, formerly the head of institutional equity sales, and Larry Acton, formerly the head of institutional equity trading, are no longer with the bank.
In their place, Quentin Broad will take over institutional equity sales. Before this, Mr. Broad was head of research. Rob Sedran, currently CIBC's bank analyst, is being promoted to lead the research team – but he will keep his banking duties.
On the trading side, Ryan Fan, who currently heads global markets for Vancouver, will run institutional equity trading and will move to Toronto.
The changes extend senior shuffling within the capital markets unit since Victor Dodig was appointed chief executive officer in 2014. Last fall, the bank named new investment banking and global markets heads.
Mr. Ernst joined CIBC in 2009 from UBS Securities Canada, where he also served as head of institutional equity sales. Mr. Acton joined CIBC after working at dealers such as UBS and GMP.
Tim Kiladze