93:. Flood joined the bank in 1951 at age 16 in his hometown as a teller. He worked at various branches in Ontario until 1974, when he received his first executive posting. For the next decade he worked in the bank's international operations, before joining the head office in Toronto in 1984 as an executive vice-president. In 1986, the bank split its presidency into four roles, and Flood was made president of the corporate banking division. He remained a president until June 1992, when he succeeded
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manager for the region. In 1979 he became vice-president for corporate banking, and in 1980 vice-president for U.S. operations. In 1983 he became senior vice-president for U.S. operations, and later that year became head of international operations. In 1984 he was made an executive vice president and joined the head office in
Toronto.
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became president of investment banking, Flood became president of corporate banking, and Warren Moysey became president of individual banking. The bank later added a fourth president, T. Iain Ronald, in charge of administrative banking. In May 1989, the four presidents were elected directors of the
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Flood joined the bank in
Monkton in 1951 at age 16. Over the ensuing decades, he held a number of management positions in corporate and credit operations at branches around Ontario. In 1974, the bank appointed him area executive for the United States and Latin America, and in 1978 he became general
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With his merger having failed, in
January 1999, Flood announced that he would retire that year. The announcement set of a battle between Hunkin and Kluge for the chairmanship. On 1 April of that year, the bank's 28 directors met to elect Flood's successor. The two competitors had struck a kind of
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bank. In April 1992, Flood was elected to succeed
Fullerton as chairman and chief executive officer, effective 7 June. Upon Flood's accession to the chair, Cantor resigned from the bank. Concurrently, Flood merged the corporate and investment banking arms into a single unit headed by
149:, to orchestrate a merger of their banks. The new bank would retain the CIBC name while adopting the green colours of TD. The announcement of the merger was made on 17 April 1998, and came three months after the
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Flood was born on 22 August 1935 in
Monkton, Ontario, to George W. Flood and Susan M. Dawson. He had four older brothers. He is a graduate of
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suicide pact, whereby the loser would leave the bank. After Hunkin won the vote, Kluge announced his resignation. Flood retired on 3 June.
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In May 1986, CIBC president R. Donald
Fullerton split the presidency into three roles, while remaining chairman of the board himself.
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as chairman and chief executive officer. In the spring of 1998, Flood negotiated a proposed merged with the
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89:(born 22 August 1935) is a Canadian retired banker who served from 1992 to 1999 as chairman of the
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James McCarten, "CIBC chairman to resign: Flood will stay on as member of board of directors,"
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Elizabeth Church and Gordon Pitts, "Who wins, who loses from Martin's 'No',"
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had announced a planned merger. However, in
December 1998, finance minister
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The Banks: The
Ongoing Battle for Control of Canada's Richest Business
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177:, Flood married Rolande T. Blanchard. They have four children.
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248:"Canadian Imperial Appoints Al Flood Chairman and Chief,"
194:"Al Flood reaches banking pinnacle after 40-year climb"
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Susanne Craig, "It was win or die in CIBC showdown,"
173:On 10 September 1960 at the Paroisse St-Jacques in
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261:Barry Critchley, "Cantor starts job-hunting,"
383:Canadian Imperial Bank of Commerce presidents
326:"Rolande T. Blanchard weds Alvin L. Flood,"
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378:Canadian Imperial Bank of Commerce people
141:In the spring of 1998, Flood worked with
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91:Canadian Imperial Bank of Commerce
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109:Early life and education
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115:Harvard Business School
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87:Alvin Lloyd "Al" Flood
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161:barred both mergers.
147:Toronto-Dominion Bank
99:Toronto-Dominion Bank
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151:Royal Bank of Canada
340:Who's Who in Canada
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250:Wall Street Journal
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95:R. Donald Fullerton
302:Hamilton Spectator
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358:1935 births
159:Paul Martin
131:Paul Cantor
103:Paul Martin
352:Categories
181:References
44:1935-08-22
210:ProQuest
23:Al Flood
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121:Career
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