Victor George Dodig is a prominent Canadian business leader who served as President and Chief Executive Officer of the Canadian Imperial Bank of Commerce from 2014 to 2025. His career spans over three decades in financial services, including senior roles at global firms like McKinsey, Merrill Lynch, and UBS. Dodig's leadership at CIBC focused on client relationships and community advocacy, influencing the bank's strategic direction. In 2026, he transitioned to become the CEO of TELUS, marking a significant move from banking to telecommunications.
Early Life and Education
Victor Dodig was born in Toronto in May 1965 to Veselko and Janja Dodig, ethnic Croat immigrants who had arrived in Canada from Bosnia and Herzegovina in 1959. He grew up in the city's inner-city Parkdale neighbourhood, where his parents' values of hard work and community profoundly shaped his outlook. Dodig attended the University of St. Michael's College at the University of Toronto, graduating with a Bachelor of Commerce degree in 1988. His first exposure to banking came while still a student in 1985, when he took a part-time job as a customer service representative at a CIBC branch in Mississauga, working Thursday and Friday evenings and full days Saturday for three years. After university, an internship at Arthur Andersen led a partner to encourage him to pursue an MBA, which he earned from Harvard Business School in 1994 as a Baker Scholar. Dodig also holds a Diploma from the Instituts d’études politiques in Paris, further broadening his international educational background.
Career in Financial Services
Victor Dodig's professional career began in 1994 as a management consultant with McKinsey & Company. He then moved to Merrill Lynch in 1997, serving as a Managing Director for its operations in Canada, the United States, and the United Kingdom, gaining extensive international experience. In 2002, Dodig returned to Toronto to join UBS as Managing Director and Chief Executive Officer in Canada for the bank's global asset management division. His tenure at UBS lasted until 2005, when he was recruited by CIBC. Dodig joined CIBC in 2005 as Executive Vice-President for Wealth Management, marking his return to the institution where he had once worked as a student. He was appointed Executive Vice-President for Retail Distribution in 2007, leading the bank's retail banking distribution and sales teams. In 2011, he was promoted to Group Head of the Wealth Management division, overseeing brokerage, private wealth, and asset management businesses in Canada and the United States. This role positioned him for the top leadership position at the bank.
Leadership as CIBC President and CEO
Victor Dodig was appointed President and Chief Executive Officer of the CIBC group of companies on September 15, 2014, succeeding Gerald T. McCaughey. He also joined CIBC's Board of Directors at that time. During his tenure, which lasted over a decade, Dodig was described as leading a transformation of CIBC into a more client-focused bank with a connected, inclusive culture. He emphasized the importance of innovation and technology in banking's future, frequently engaging with clients globally to understand their needs and stating that banking is about knowing clients at a very human level. Under his leadership, CIBC pursued strategic diversification outside of Canada, as stated by Dodig himself when he said their goal was to diversify outside of Canada. He also oversaw internal management reorganizations, including the earlier-than-planned departure of Chief Operating Officer Richard Nesbitt in 2014 as part of a management reorganization by the new chief executive. Dodig was a vocal advocate on broader economic issues, arguing that Canada needed to get its energy to market while also improving its environmental, social, and governance credentials to attract investment. He publicly highlighted challenges such as expensive housing, low wages, and the undervaluing of foreign skills in the context of immigration policy, stating that Canada's shared prosperity depends on remaining a welcoming nation of opportunity.
Community Involvement and Advocacy
Beyond his corporate role, Victor Dodig was deeply involved in community and advocacy initiatives, reflecting the values instilled in him during his upbringing. He served as the 2024 Chair of the United Way campaign in Greater Toronto, focusing on efforts to address local poverty. Dodig played a leadership role with Catalyst Canada, an organization dedicated to creating more opportunities for women in executive roles. He was also involved with the BlackNorth Initiative and supported efforts toward economic reconciliation with Indigenous communities, aiming to foster a more inclusive future for underserved groups in Canada. Dodig framed this community work as a responsibility that comes with leadership roles, stating that some people get the opportunity to help shape positive outcomes for society and that he felt a deep sense of accountability for that. His board service extended to the C.D. Howe Institute, a research institute focused on fostering economically sound public policies, where he was elected to the board with the goal of raising living standards. He also served on the Catalyst Canada Advisory Board, reinforcing his commitment to diversity and inclusion in corporate leadership.
Transition to TELUS and Retirement from CIBC
In March 2025, CIBC announced that Victor Dodig would retire as President and CEO on October 31, 2025. He was succeeded by Harry Kenneth Culham. As part of the transition, Dodig served as a special adviser to Culham and CIBC's board from November 2025 until April 2026. His departure was part of a broader wave of leadership changes across Canada's major banks and financial regulators at the time, with most big banks having or soon to have a new person in the top job. Shortly after his advisory role concluded, in February 2026, the Vancouver-based telecommunications company TELUS announced that Dodig would replace Darren Entwistle as its Chief Executive Officer. Dodig had previously joined the TELUS board of directors in 2022, providing a foundation for this subsequent leadership move. This appointment marked a significant career shift for Dodig from the financial services industry to the telecommunications sector and was a leadership change that surprised Bay Street, according to industry commentary.
Personal Life and Business Interests
Victor Dodig met his wife, Maureen Broe, while they were both students at Harvard University. The couple returned to Toronto in 2002 to raise their family and are the parents of four children. Dodig has spoken about the importance of family, heritage, and community, often taking family trips to Croatia. He has stated that spending time with his family is a dividend that has more value than dollars and that he enjoys nothing more than being with them. In addition to his professional roles, Dodig holds a majority ownership stake in a professional basketball club. As of September 2026, he owns 70 percent of Cibona, a Croatian professional basketball club. His younger brother, Edward Dodig, also pursued a career at CIBC, becoming the head of the bank's private wealth division in 2019, indicating a family connection to the financial institution.
Key Career Milestones and Leadership Philosophy
Victor Dodig's career path illustrates a steady rise through the ranks of global finance to the pinnacle of Canadian banking, followed by a transition to leading a major telecommunications company. His journey from a part-time bank teller to CEO of a national institution is a notable narrative in Canadian business, often cited as a story of persistence, resilience, and dedication to excellence. Dodig's leadership philosophy was heavily influenced by his early experience as a customer service representative, which he said provided him with a unique perspective on the banking industry and shaped his leadership style. He valued client engagement and frequently met with clients globally to hear directly about how the bank could help them achieve their ambitions. He believed in fostering connections across the regions where the bank operated, a perspective enriched by his own work experience in cities like Boston, New York, and London. Dodig was also a recipient of Canada's Top 40 Under 40 award, recognizing his achievements early in his career.
- 1985: Began part-time work as a CIBC customer service representative at the Fieldgate Plaza branch in Mississauga.
- 1994: Earned MBA from Harvard. Began career at McKinsey & Company as a managing consultant.
- 1997: Joined Merrill Lynch as Managing Director for Canada, the US, and the UK.
- 2002: Returned to Toronto as Managing Director and CEO of UBS Global Asset Management Canada.
- 2005: Joined CIBC as Executive Vice-President, CIBC Wealth Management.
- 2007: Appointed Executive Vice-President, Retail Distribution, CIBC.
- 2011: Appointed Group Head, CIBC Wealth Management.
- 2014: Became President and CEO of CIBC and joined its board on September 15.
- 2019: His brother Edward Dodig became head of CIBC's private wealth division.
- 2022: Joined the TELUS board of directors.
- 2025: Announced retirement in March. Retired as CIBC President and CEO on October 31.
- 2026: Appointed CEO of TELUS in February. Owned 70% of Cibona basketball club as of September.
Public Statements and Policy Views
Throughout his tenure as a prominent bank CEO, Victor Dodig made several public statements on key economic and social issues facing Canada. He was a vocal participant in the national conversation on immigration, arguing that Ottawa's approach to recruiting newcomers needed an overhaul to address labour shortages. Dodig stated that housing was too expensive, wages were too low, and professions undervalued foreigners' skills, using his influence to turn the spotlight on these issues as a record number of newcomers were poised to arrive. On energy policy, he argued that turning our back on our energy sector means turning our backs on the prosperity promised to future generations, emphasizing that Canada needs to get its energy to market. He also highlighted the need for Canada to earn recognition for the environmental, social, and governance factors that investors value. In a speech, Dodig proposed that changing the rules around capital cost allowance would help level the playing field for businesses. These views were part of his broader advocacy for economically sound public policies that would support national prosperity and growth.
Frequently asked questions
When did Victor Dodig become CEO of CIBC?
Victor Dodig was appointed President and Chief Executive Officer of CIBC on September 15, 2014. He succeeded Gerald T. McCaughey, who had held the position since 2004. Dodig also joined the CIBC Board of Directors at that time, leading the bank for over a decade until his retirement in late 2025. His appointment was part of a management reorganization following his predecessor's departure.
What did Victor Dodig do before CIBC?
Before joining CIBC in 2005, Victor Dodig held senior roles at several global financial firms. He started his career at McKinsey & Company in 1994 as a management consultant. He then worked for Merrill Lynch as a Managing Director from 1997 to 2002, overseeing operations in Canada, the US, and the UK. From 2002 to 2005, he was the Managing Director and Chief Executive Officer in Canada for UBS Global Asset Management, returning to Toronto for that role.
Why did Victor Dodig leave CIBC?
CIBC announced in March 2025 that Victor Dodig would retire as President and CEO on October 31, 2025. He was succeeded by Harry Kenneth Culham. Dodig then served as a special adviser to the new CEO and the board from November 2025 until April 2026. His departure was part of a period of leadership changes across Canada's major banks and financial regulators at that time.
What community work is Victor Dodig known for?
Victor Dodig has been actively involved in numerous community and advocacy initiatives. He served as the 2024 Chair of the United Way campaign in Greater Toronto to address local poverty. He held leadership roles with Catalyst Canada to advance women in executive positions and supported the BlackNorth Initiative and economic reconciliation with Indigenous communities. He also served on the boards of the C.D. Howe Institute and the Catalyst Canada Advisory Board.
Who is Victor Dodig?
Victor Dodig is a Canadian banker who was the president of the Canadian Imperial Bank of Commerce from September 2014 to October 2025. Born in Toronto in May 1965 to Croatian immigrant parents, he earned a Bachelor of Commerce from the University of Toronto and an MBA from Harvard Business School. His career began at McKinsey & Company in 1994, followed by roles at Merrill Lynch and UBS before joining CIBC in 2005. In February 2026, the telecommunications company TELUS announced that Dodig would become its new chief executive officer, succeeding Darren Entwistle.
What is Victor Dodig's role at TELUS?
Victor Dodig is the President and Chief Executive Officer of TELUS. This appointment was announced in February 2026, with Dodig set to replace the outgoing CEO Darren Entwistle. Prior to this role, Dodig had joined the TELUS board of directors in 2022. His move from leading CIBC, one of Canada's major banks, to leading a major national telecommunications company marked a significant shift in his career trajectory and was a notable event on Bay Street.
Sources and further reading
- Victor Dodig (Wikipedia) en.wikipedia.org
- Victor G. Dodig horatioalger.ca
- Victor Dodig, CIBC, Future of Banking empireclubofcanada.com
- Victor-Dodig financialpost.com
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