Having closed out a profitable year for its investment banking unit, Canadian Imperial Bank of Commerce’s wholesale banking arm is seeking new hires for prime brokerage and other securities segments.

The company’s wholesale banking arm – servicing corporate, government and institutional clients – has been steadily adding bench strength in some of its capital markets businesses.

According to an internal company note, the firm’s made new hires in equity prime brokerage, stock lending, electronic access, algorithmic platform development, and equity trading. All of these come under the heading of “prime services” at CIBC.

They included Darren Snelgrove’s appointment as an executive director in the client services group, which implements trading strategies and offers advice on customized portfolio reporting. Snelgrove was formerly with MF Global in Toronto. Also starting at CIBC is new securities lending director Andrew Dac Bang, formerly of National Bank Financial.

Besides seeking industry veterans like Snelgrove – who brings two decades of experience to the table – CIBC is making a number of entry-level hires as well, including an investment banking analyst in its Calgary Oil and Gas division. It has openings for portfolio managers and financial advisors as well.

It’s no surprise that CIBC continues to grow its ranks. It’s Canada’s fifth-largest bank and the only one of the top six to post capital markets earnings last year.

Wholesale banking – encompassing credit, capital markets, investment banking, merchant banking and research products – posted gains of C$342 million last year, versus a C$472 million loss in 2009.

And, at a time Canada’s banks when set aside just 1.1 percent more for incentive pay than they had in 2009 boosted bonus payouts 11 percent for the year.