By Nivedita Balu

TORONTO (Reuters) – Canadian lender CIBC named Jon Hountalas vice chair of North American banking on Thursday as three other executives take over his current duties as head of Canadian banking, effective Nov. 1.

Canada’s fifth largest lender had named Chief Financial Officer Hratch Panossian as head of its Canadian personal and business banking unit in April.

Hountalas’ responsibilities include personal and business banking, commercial banking, and wealth management businesses in Canada, which accounts for nearly two-thirds of the bank’s income.

“It’s an evolution of our strategy. We want to make sure that we continue to grow in our home market,” CEO Victor Dodig said in an interview.

“This just puts a finer point on putting the best talent against that agenda.”

Susan Rimmer will head the commercial banking and wealth management business. She currently serves as the head of global corporate and investment banking.

Capital Markets head Harry Culham will assume the additional role of heading global asset management and enterprise strategy.

Panossian will take on expanded responsibility for Simplii Financial, CIBC’s digital banking division.

The three executives and Hountalas will report to Dodig.

Christian Exshaw was named deputy head, capital markets, adding responsibility for corporate and investment banking to his current mandate. He will report to Culham.

(Reporting by Nivedita Balu in Toronto; Editing by Richard Chang)