Rated A+ by S&P, Aa3 by Moodys and AA- by Fitch, CIBC was in May ranked as the strongest bank in North America by Bloomberg Markets.
A range of products will be announced in the coming days, offering discretionary investors the opportunity to diversify away from the use of Morgan Stanley as counterparty on its own products.
Investors will be able to choose either Morgan Stanley or CIBC as the issuer of a structured note, with Morgan Stanley itself rated A- by S&P, Baa1 by Moodys and A by Fitch.
Rebecca Davies, vice president at Morgan Stanley said: “This exciting new partnership gives discretionary managers another counterparty to choose from. CIBC is a major structured product provider in Canada, and we expect this venture to be of great benefit to both parties as well as to our wider client base.”