Dear Sir or Madam,

The Canadian Association of Financial Institutions in Insurance
is pleased to announce
Mr. Rick Lancaster
President & CEO, CIBC Life Insurance Company Limited
Senior Vice President Insurance, CIBC

as the new Chair effective June 13, 2007. 

In his current role as President and CEO of CIBC Life Insurance Company Limited and Senior Vice President Insurance, Mr. Lancaster is responsible for leadership and growth of CIBC’s Insurance business.  

Mr. Lancaster joined CIBC in 1986. He has held several CIBC executive roles including President & CEO CIBC Life Insurance Company Limited and Senior Vice President Insurance (2002), SVP Creditor Insurance (2001), SVP & Chief Financial Officer (CFO) Electronic Commerce Technology & Operations (1999), SVP & CFO Personal and Commercial Bank (1996), Vice President Finance Individual Bank (1992) and Vice President Performance Management (1990).

Prior to joining CIBC, Mr. Lancaster was with Continental Bank of Canada (1980).  He began his career as a business instructor at The Richard Ivey School of Business, the University of Western Ontario (1978). 

Mr. Lancaster holds a Masters of Business Administration (MBA) degree from the University of Toronto as well as an Honors Business Administration (HBA) degree from Ivey at the University of Western Ontario.  He is also a Certified General Accountant (CGA) and a Fellow of the Institute of Canadian Bankers (FICB). 

Mr. Lancaster is a Director of CIBC Life Insurance Company Limited, a Director and past President of CIBC Mortgage Corporation, Chair of the Canadian Association of Financial Institutions in Insurance (CAFII) as well as a Director of the Haliburton Club (part of Scouts Canada).