R. Donald Fullerton
Robert Donald Fullerton | |
|---|---|
| Born | 7 June 1931 Vancouver, Canada |
| Died | 29 May 2011 (aged 79) Toronto, Canada |
| Occupation | Banking executive |
| Years active | 1953–1992 |
| Known for | President (1976–1986) and chairman (1985–1992) of Canadian Imperial Bank of Commerce |
Robert Donald Fullerton (7 June 1931 – 29 May 2011) was a prominent Canadian banking executive who held the positions of president (1976–1986) and chairman (1985–1992) at the Canadian Imperial Bank of Commerce. His career began in 1953 with the Canadian Bank of Commerce. Following the 1961 merger with the Imperial Bank of Canada, Fullerton relocated to the merged institution's headquarters in Toronto by 1967. He rose through the ranks, becoming vice-president in 1971, executive vice-president in 1973, president in 1976, chief executive officer in 1984, and chairman in 1985. He stepped down from both leadership roles in June 1992. Fullerton passed away in Toronto on 29 May 2011 at the age of 79.
Early life and education
Fullerton was born in Vancouver to Carman Gardiner Fullerton and Mary Muriel Elderkin, and he had two brothers or sisters. He completed his studies at Trinity College School, graduating in 1949, and earned a Bachelor of Arts degree from the University of Toronto in 1953, where he was affiliated with the Kappa Alpha Society.
Career
Upon finishing his education, Fullerton began his banking career with the Canadian Bank of Commerce in Vancouver. After the bank’s merger with the Imperial Bank of Canada in 1961 forming the Canadian Imperial Bank of Commerce, he was transferred to Toronto to serve as assistant manager at the city hall branch. He subsequently took on regional management responsibilities in Regina and Toronto before being promoted to deputy chief general manager of operations in 1968. His ascent continued with appointments as senior vice-president in 1971 and executive vice-president two years later. In December 1976, he assumed the roles of president and chief operating officer.
In August 1980, Fullerton also acquired the title of vice-chairman. That same year, he mounted an unsuccessful bid for the presidency against then-leader Russell E. Harrison, which resulted in his reassignment to oversee strategic planning. By 1983, amid challenges involving the bank's loan exposure to Dome Petroleum, Fullerton crafted a restructuring strategy that received board endorsement.
Fullerton succeeded Harrison as chief executive officer in May 1984 while Harrison retained the chairman position. When Harrison retired in January 1985, Fullerton was elected chairman. In April 1986, he implemented a reorganization at CIBC that divided operations into three distinct business units—personal banking led by Warren Moysey, corporate banking under Alvin Flood, and investment banking headed by Paul Cantor—each managed by its own president. He concluded his tenure as chairman and CEO on 7 June 1992, with Alvin Flood succeeding him.
Board memberships
Fullerton served on the boards of several leading companies including IBM Canada, Amoco Canada, North American Life, Husky Oil, Westcoast Transmission Company, Honeywell, George Weston Limited, Alcan, Coca-Cola, Ontario Hydro, Canadian Eastern Finance Corporation, and Massey Ferguson. His involvement extended to cultural and educational institutions such as acting as honorary treasurer for the Royal Ontario Museum and serving as a governor for Crescent School and Bishop Strachan School. He was also a member of prestigious clubs like the York Club, Toronto Club, Rosedale Golf Club, Granite Club, Caledon Ski Club, Queen's Club, Mount Royal Club, as well as New York City's Metropolitan Club.
Personal life
In 1954, Fullerton married Charlotte Knowlton Lyle; together they had four children. After her death in 1974, he remarried Judith Ann Frankel in 1975. Fullerton died on 29 May 2011 in Toronto at age seventy-nine. His funeral service took place at Grace Church on-the-Hill, and he was buried alongside his first wife at Mount Pleasant Cemetery.