Canada-based CIBC Global Asset Management has made two senior appointments, including a chief investment officer, to strengthen its portfolio management team.

Suzann Pennington has been appointed managing director and CIO, while Stephen Carlin starts as a vice president and senior portfolio manager for Canadian equities.  

Pennington will oversee all of CGAM’s portfolio management and research efforts, but will remain as head of equities and continue to manage the Canadian all-cap mandate, the firm said.

Carlin has over 22 years of experience in equity investment management and joins CIBC from Aegon Capital Management, where he was a senior vice president and head of equities.

“Asset Management has been a key growth engine for CIBC Wealth Management and plays an important strategic role for CIBC,” the firm said.