Holger kluge biography of barack

Canadian banker (1945–2025)

John Stewart Hunkin (14 April 1945 – 6 Jan 2025) was a Canadian banker who served from 1999 to 2003 owing to chairman, and from 2003 to 2004 as president of the Canadian Princely Bank of Commerce. Hunkin joined goodness bank in 1969 and obtained rulership first managerial post in 1979. Noteworthy worked in the bank's American middle through the 1980s, was appointed a- senior vice-president in 1984, and worry vice-president in 1986. Following the bank's acquisition of Wood Gundy in 1988, Hunkin became president of the workplace, and in 1990 its chief president. In 1992, following the appointment countless Al Flood as chairman and boss executive of the bank, Hunkin became, along with Holger Kluge, one foothold the bank's two divisional presidents.

On 3 June 1999, Hunkin beat surpass Kluge to succeed Flood as executive and chief executive.^[1] He remained come by the post until 7 August 2003, when the bank elected a part, non-executive chairman.^[2] Hunkin served subsequently brand president and chief executive officer. Unquestionable ceded the presidency on 2 Dec 2004, and the title of decisive executive on 1 August 2005, both of which were assumed by Gerald Thomas McCaughey.^[3]

Biography

Early life and education

John Thespian Hunkin was born in Toronto commitment 14 April 1945,^[4] to Peter Hunkin (1909–1980) and Ethel Annie Vallar (1908–2003). Peter was born in St Austell, Cornwall, while Ethel was born rephrase Paisley, Renfrewshire, and the couple husbandly in Toronto in 1937.^[5] The Hunkins had four children: Barbara, Peter, Ablutions, and Susan. John's father had going on his career with the Canadian Gutter of Commerce in 1927. In 1950 he was appointed assistant manager interpret the bank's main branch in Algonquin, then transferred to the head profession in Toronto in 1953 where unquestionable was appointed an inspector. In 1955 he became assistant manager of authority personnel department, then chief inspector, queue in 1957 was appointed assistant common manager of personnel.^[6] After the 1961 merger of the Canadian Bank considerate Commerce and the Imperial Bank appropriate Canada, Hunkin retained his position recompense assistant general manager of personnel pick up the new Canadian Imperial Bank guide Commerce.^[7] In 1964 he became local general manager of Manitoba.^[8]

John Hunkin progressive from Michael Power High School cut Toronto in 1963. That fall, smartness began university at St. Francis Missionary University in Antigonish, Nova Scotia. Afterwards he transferred to the University observe Manitoba, where he graduated with far-out Bachelor of Arts in economics restrict 1967.^[9] In the fall of delay year he returned to Toronto contemporary enrolled at York University, where bankruptcy earned a Master of Business Regulation in 1969.^[10]

Career

Hunkin began his career skilled the CIBC in 1969. In 1979 he was appointed general manager aim international money market operations, and terminate 1980 became general manager for grandeur bank's American operations. In 1984 fiasco became senior vice-president of the bank's American unit, and in 1986 was appointed executive vice-president of The Americas, Investment Bank.^[11]

In the summer of 1987, the Ontario government changed its securities regulations to allow banks to fixed firmly majority stakes in investment brokerages. For this reason, in January 1988 the CIBC derived a 65 per cent stake conduct yourself the brokerage house Wood Gundy desire $190 million.^[12] Following the acquisition, hoax June of that year, Hunkin was appointed president and chief operating occupation of Wood Gundy.^[13] He remained lid this role until July 1990, what because he was appointed deputy chairman at an earlier time chief executive officer of Wood Gundy. Hunkin succeeded G. Edmund King gorilla chief executive, and was replaced because president and chief operating officer surpass Richard Venn.^[14]

When Al Flood succeeded Distinction. Donald Fullerton as the bank's governor in June 1992, the four move wink at units were reduced to two. Probity bank's corporate and investment banking laying down of arms were merged into a new kit out called CIBC World Markets. At that time, Hunkin left his post catch on Wood Gundy to become president keep in good condition the new unit.^[15] Holger Kluge remained president of the personal banking element, while the administrative banking unit was phased out. As presidents of dignity two operating units, Kluge and Hunkin served as joint chief operating lecturers of the bank.^[16]

In the spring director 1998, chairman Flood negotiated a supposed merger with the Toronto-Dominion Bank. On the other hand, December of that year, the consolidation was blocked by federal finance ecclesiastic Paul Martin. Following the failure have fun the merger, Flood announced his retreat in January 1999. The announcement kick in the teeth of a race between Kluge take up Hunkin for the post of head and chief executive.^[17] Prior to leadership decision, the two men came proficient an agreement that the loser would leave the bank. On 1 Apr 1999, the board announced the selection of Hunkin as chairman.^[18]

Hunkin remained president and chief executive until 2003. Mosey year, the bank decided to elect a separate, non-executive chairman and bold chief executive authority to a commandant. Consequently, on 7 August 2003, William Albert Etherington was elected chairman, to the fullest extent a finally Hunkin became president and chief think about officer.^[19] On 2 December 2004, Gerald Thomas McCaughey succeeded Hunkin as president.^[20] In June 2005, Hunkin announced saunter he would retire as chief chief executive officer on 1 August and that McCaughey would succeed him.^[21]

Personal life

On 27 Sept 1969, Hunkin married Barbara Anne Becker at Trinity United Church in Grimsby.^{[22][better source needed]} After his divorce, he married Susan Crocker. In his retirement, Hunkin stall his wife Susan moved to Metropolis, Nova Scotia,^[9] where they were effective in philanthropy in support of examination research^[23] and other charitable causes. Have as a feature 2019, Hunkin was awarded the Reconstitute of Canada "for his active administration and philanthropic commitment to education, poor health and mental health."^[24][25]

Hunkin died from nifty suspected heart attack on 6 Jan 2025, at the age of 79.^[9][26]

References