Canadian Imperial Bank of Commerce declined to comment on a report Friday that it is set to announce a $500 million agreement to buy midsize U.S. brokerage Oppenheimer & Co.

The report by Reuters, which cited sources close to the deal, is the latest to link Oppenheimer to a commercial bank.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.