CIBC Wood Gundy Securities Corp., the U.S. investment banking and trading subsidiary of the Canadian Imperial Bank of Commerce, is expanding its high-yield group with an acquisition finance unit that will focus on the middle market.

CIBC, like many other banks, is looking to take its products to that market, which Jay Bloom, a co-head of the high-yield group, defines as financings of $20 million to $100 million.

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