Barely a year after shifting its focus from commercial banking to investment, Canadian Imperial Bank of Commerce is moving into trading bank loans and derivatives and underwriting high-yield debt in the United States.

John Hunkin, president of CIBC Wood Gundy, the bank's capital markets, underwriting, and trading arm, said the U.S. expansion is part of a drive to help mostly Canadian corporations find funding in the United States, and to help them manage their interest rate and currency risks.

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