Victor Dodig Wikipedia, Biography, Age, Religion, Net Worth, Career, Salary, Retirement, Wife, Family
Victor Dodig Wikipedia, Biography
Victor George Dodig, born in May 1965, is a Canadian banker renowned for his leadership as President and CEO of the Canadian Imperial Bank of Commerce (CIBC). Born in Toronto to Veselko and Janja Dodig, he pursued his Bachelor of Commerce at the University of St. Michael’s College, University of Toronto, graduating in 1988.
Dodig’s career began at McKinsey & Company in 1994, followed by roles at Merrill Lynch and UBS in Toronto. He joined CIBC in 2005 as Executive Vice-President for Wealth Management, ascending to President and CEO in September 2014.
Under his leadership, CIBC expanded its U.S. presence by acquiring Chicago-based PrivateBancorp, Inc. in 2017 for US$5 billion. The bank also purchased Costco’s Canadian credit card portfolio in 2022, adding over two million clients. These strategic moves diversified CIBC’s operations and reduced its reliance on the Canadian market.
In March 2025, Dodig announced plans to retire as CEO on October 31, 2025. Harry Culham, CIBC’s current head of capital markets, is set to succeed him, with Culham appointed as Chief Operating Officer effective April 1, 2025, before taking over as CEO on November 1, 2025.
Early Life and Family
Birth and Heritage
Victor Dodig was born at St. Joseph’s Health Centre in Toronto in May 1965. He is the son of Veselko and Janja Dodig, both immigrants who moved to Canada seeking better opportunities. His father, Veselko, hailed from Croatia and arrived in Canada in 1961, while his mother joined him four years later.
Education
Dodig’s academic journey reflects a commitment to excellence. He earned a Bachelor of Commerce degree from the University of Toronto’s St. Michael’s College in 1988.
Furthering his education, he obtained a Master of Business Administration (MBA) from Harvard Business School in 1994, where he was honored as a Baker Scholar, a distinction awarded to the top students. Additionally, he holds a diploma from the Institut d’études politiques in Paris, underscoring his global perspective and academic breadth.
Career
Early Career
Dodig’s professional trajectory is marked by a series of strategic roles that laid the foundation for his leadership at CIBC. He commenced his career in 1994 as a management consultant with McKinsey & Company, where he honed his analytical and strategic skills. In 1997, he joined Merrill Lynch, serving as Managing Director across Canada, the United States, and the United Kingdom. This role expanded his international business acumen. In 2002, Dodig returned to Toronto to lead UBS Global Asset Management as Managing Director and CEO for Canada, further enriching his financial expertise.
Tenure at CIBC
Dodig’s association with CIBC began in 2005 when he was appointed Executive Vice-President for Wealth Management. His leadership saw significant growth in this division, both organically and through strategic acquisitions in the U.S., including Atlantic Trust and a 41% investment in American Century. In 2007, he advanced to Executive Vice-President for Retail Distribution, and by 2011, he was the Group Head for Wealth Management. His vision culminated in his appointment as President and CEO in September 2014, succeeding Gerald T. McCaughey.
Under Dodig’s stewardship, CIBC expanded its U.S. presence by acquiring Chicago-based PrivateBancorp, Inc. in 2017 for US$5 billion. The bank also purchased Costco’s Canadian credit card portfolio in 2022, adding over two million clients. These strategic moves diversified CIBC’s operations and reduced its reliance on the Canadian market.
Community Involvement and Philanthropy
Beyond his professional endeavors, Dodig is deeply committed to community and philanthropic activities. He has served as Past Chair of the Business Council of Canada and was President of the 2022 International Monetary Conference.
He also holds positions on the boards of the Brookings Institution and Telus Corporation Inc. His advocacy for diversity and inclusion is evident through his leadership in initiatives like the BlackNorth Initiative and his recognition as a Catalyst Canada Honours Champion.
Retirement
In March 2025, Dodig announced his plans to retire as CEO on October 31, 2025. Harry Culham, CIBC’s current head of capital markets, is set to succeed him. Culham will assume the role of Chief Operating Officer on April 1, 2025, before taking over as CEO on November 1, 2025. Post-retirement, Dodig will serve as a special adviser to Culham and the CIBC board until April 2026, ensuring a smooth transition and continued strategic guidance.
Net Worth and Salary
As of 2024, Victor Dodig’s total compensation was reported at C$13.1 million, reflecting a 22.4% increase from the previous year. His retirement package includes holdings in CIBC valued at approximately C$50.7 million.
Family: Wife and Children
Victor Dodig is married to Maureen, whom he met while attending Harvard Business School. Together, they have four children, who are an important part of their close-knit family. The Dodig family resides in Toronto, where they enjoy a stable and supportive home life.
Conclusion
Victor Dodig’s biography is a compelling narrative of ambition, leadership, and community commitment. From his early life in Toronto to his rise as a banking executive, his journey reflects a blend of personal resilience and professional excellence. As he approaches retirement, his legacy at CIBC and contributions to Canadian society remain significant, leaving an indelible mark on the financial industry and beyond.
FAQs
What is Victor Dodig’s educational background?
Victor Dodig holds a Bachelor of Commerce degree from the University of Toronto’s St. Michael’s College, an MBA from Harvard Business School where he was a Baker Scholar, and a diploma from the Institut d’Études Politiques in Paris, which provided him with a global perspective on business.
When did Victor Dodig become CEO of CIBC?
Victor Dodig was appointed as the President and CEO of CIBC in September 2014, after succeeding Gerald T. McCaughey. His leadership has been instrumental in transforming CIBC into a more client-focused institution with a significant presence in the U.S. market.
What major acquisitions did CIBC make under Victor Dodig’s leadership?
Under Dodig’s leadership, CIBC made significant acquisitions, including the purchase of Chicago-based PrivateBancorp, Inc. in 2017 for US$5 billion. Additionally, in 2022, CIBC acquired Costco’s Canadian credit card portfolio, adding over two million clients to its customer base.
Who will succeed Victor Dodig as CEO of CIBC?
Harry Culham, CIBC’s current head of capital markets, will succeed Victor Dodig as the CEO. Culham will assume the role of Chief Operating Officer on April 1, 2025, and will take over as CEO on November 1, 2025, following Dodig’s retirement at the end of October 2025.
What are Victor Dodig’s key achievements as CEO of CIBC?
Some of Victor Dodig’s key achievements include expanding CIBC’s presence in the U.S. with strategic acquisitions, such as PrivateBancorp, as well as diversifying CIBC’s operations.
What will Victor Dodig do after his retirement from CIBC?
After his retirement from CIBC in October 2025, Victor Dodig will serve as a special adviser to Harry Culham, the new CEO, and the CIBC board until April 2026. This role will allow him to provide guidance and ensure a smooth transition for the new leadership at CIBC.
