CIBC Innovation Banking Opens New Office in NC

By opening a new office in Durham, North Carolina, CIBC Innovation Banking is happy to announce that it will increase its presence in the Southeastern part of the United States.

By providing its expertise in growth financing, consulting, and cash management through its newly opened 14th regional office, CIBC Innovation Banking will support the expansion goals of the hundreds of start-ups and innovative enterprises that are forming in the Research Triangle region.

Alan Spurgin, who is currently Managing Director & Co-Head, US Technology Banking at CIBC Innovation Banking, will oversee the group’s entry into North Carolina, where entrepreneurs have been starting new companies at a breakneck rate recently, reviving the state’s reputation as an innovation hub. Walt Sparks, an Executive Director for CIBC Innovation Banking North America, will be working alongside Alan at the new Durham office.

Sparks will concentrate on boosting the syndicated financing initiatives of the CIBC Innovation Banking team and bringing its extensive services and experience to start-ups and business owners in the area and across the nation. Walt has almost ten years of expertise implementing different syndicated structures for sponsor-backed businesses, from early-stage venture capital to late-stage PE acquisition.

Prior to joining the Innovation Banking division, Sparks was a recurring revenue lending specialist for the PNC Technology Finance division, financing SaaS companies all around the world.

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