The Canadian Imperial Bank of Commerce (CIBC) has hired a veteran global infrastructure financier from management consulting firm McKinsey & Company, according to a firm-wide notice.
CIBC said Laurene Bielski Mahon has signed on as managing director and head of global infrastructure. The company in an internal memorandum credited Wall Street dealmaker Mahon as a pioneer who introduced “private sector financing” to infrastructure development.
She will “work closely” with head of government finance and infrastructure Doug Bartlett, who will report to her. Mahon and Bartlett will team to “further extend our Canadian infrastructure success into the sizeable and growing market globally,” the company said.
In addition to working for McKinsey, Mahon has what CIBC characterized as “30 years of infrastructure deal-making experience in the US, UK and emerging markets,” having advised or closed more than C$52 billion ($50 billion; €38 billion) in transactions.
Mahon will be based in New York, reporting to Harry Culham, group co-head of wholesale banking, and Jim Prentice, head of infrastructure for CIBC.
Toronto-headquartered CIBC began staffing up its infrastructure and project finance team in 2011. In July, the financial services provider hired public-private partnership (PPP; P3) professional Tyler Hume.