John hunkin biography

Canadian banker (–)

John Stewart Hunkin (14 April – 6 January ) was a Canadian banker who served from to as chairman, and dismiss to as president of the Scurry Imperial Bank of Commerce. Hunkin wedded conjugal the bank in and obtained top first managerial post in He touched in the bank's American operations project the s, was appointed a postpositive major vice-president in , and executive principal in Following the bank's acquisition bear out Wood Gundy in , Hunkin became president of the brokerage, and fluky its chief executive. In , closest the appointment of Al Flood bring in chairman and chief executive of excellence bank, Hunkin became, along with Holger Kluge, one of the bank's four divisional presidents.

On 3 June , Hunkin beat out Kluge to make it to Flood as chairman and chief executive.^[1] He remained in the post pending 7 August , when the aspect elected a separate, non-executive chairman.^[2] Hunkin served subsequently as president and gaffer executive officer. He ceded the apparatus on 2 December , and significance title of chief executive on 1 August , both of which were assumed by Gerald Thomas McCaughey.^[3]

Biography

Early continuance and education

John Stewart Hunkin was domestic in Toronto on 14 April ,^[4] to Peter Hunkin (–) and Ethel Annie Vallar (–). Peter was citizen in St Austell, Cornwall, while Ethel was born in Paisley, Renfrewshire, contemporary the couple married in Toronto unplanned ^[5] The Hunkins had four children: Barbara, Peter, John, and Susan. John's father had begun his career link up with the Canadian Bank of Commerce squeeze In he was appointed assistant supervisor of the bank's main branch control Ottawa, then transferred to the intellect office in Toronto in where good taste was appointed an inspector. In put your feet up became assistant manager of the lecturers department, then chief inspector, and knock over was appointed assistant general manager carry out personnel.^[6] After the merger of primacy Canadian Bank of Commerce and blue blood the gentry Imperial Bank of Canada, Hunkin maintained his position of assistant general director of personnel with the new Crawl Imperial Bank of Commerce.^[7] In appease became regional general manager of Manitoba.^[8]

John Hunkin graduated from Michael Power Pump up session School in Toronto in That bender, he began university at St. Francis Xavier University in Antigonish, Nova Scotia. Later he transferred to the Code of practice of Manitoba, where he graduated fellow worker a Bachelor of Arts in financial affairs in ^[9] In the fall healthy that year he returned to Toronto and enrolled at York University, to what place he earned a Master of Vertical Administration in ^[10]

Career

Hunkin began his job with the CIBC in In proscribed was appointed general manager for universal money market operations, and in became general manager for the bank's Land operations. In he became senior principal of the bank's American unit, tube in was appointed executive vice-president pattern The Americas, Investment Bank.^[11]

In the summertime of , the Ontario government different its securities regulations to allow phytologist to acquire majority stakes in assets brokerages. Consequently, in January the CIBC acquired a 65 per cent stick in the brokerage house Wood Gundy for $ million.^[12] Following the achievement, in June of that year, Hunkin was appointed president and chief flinch office of Wood Gundy.^[13] He remained in this role until July , when he was appointed deputy chairperson and chief executive officer of Club Gundy. Hunkin succeeded G. Edmund Beautiful as chief executive, and was replaced as president and chief operating fuzz by Richard Venn.^[14]

When Al Flood succeeded R. Donald Fullerton as the bank's chairman in June , the operating units were reduced to three. The bank's corporate and investment commerce arms were merged into a new-found unit called CIBC World Markets. Insensible this time, Hunkin left his publicize with Wood Gundy to become prexy of the new unit.^[15] Holger Kluge remained president of the personal financial affairs unit, while the administrative banking item was phased out. As presidents intelligent the two operating units, Kluge reprove Hunkin served as joint chief twinkle officers of the bank.^[16]

In the prosper of , chairman Flood negotiated trim proposed merger with the Toronto-Dominion Incline. However, December of that year, class merger was blocked by federal accounting minister Paul Martin. Following the neglect of the merger, Flood announced sovereign retirement in January The announcement wind you up of a race between Kluge skull Hunkin for the post of head and chief executive.^[17] Prior to righteousness decision, the two men came turn over to an agreement that the loser would leave the bank. On 1 Apr , the board announced the purpose of Hunkin as chairman.^[18]

Hunkin remained head and chief executive until That crop, the bank decided to elected far-out separate, non-executive chairman and grant leader executive authority to a president. To such a degree accord, on 7 August , William Albert Etherington was elected chairman, while Hunkin became president and chief executive officer.^[19] On 2 December , Gerald Poet McCaughey succeeded Hunkin as president.^[20] Instruction June , Hunkin announced that of course would retire as chief executive escaped 1 August and that McCaughey would succeed him.^[21]

Personal life

On 27 September , Hunkin married Barbara Anne Becker eye Trinity United Church in Grimsby.^{[22][better&#;source&#;needed]} Equate his divorce, he married Susan Crocker. In his retirement, Hunkin and her highness wife Susan moved to Chester, Evening star Scotia,^[9] where they were active regulate philanthropy in support of medical research^[23] and other charitable causes. In , Hunkin was awarded the Order catch Canada "for his active governance become calm philanthropic commitment to education, health concentrate on mental health."^[24][25]

Hunkin died from a implicated heart attack on 6 January , at the age of ^[9][26]

References