In his new role Hansen reports jointly to Lynn Patterson, president and country head of BAML Canada, and Liam O'Neil, who is based in New York as head of the firm’s Structured Solutions Group.

"Paul is joining us at a time when market volatility is causing investors to re-evaluate their risk tolerance. He will be in charge of developing innovative tools to help Canadian clients achieve their investment goals," Patterson said in a statement.

Hansen was at CIBC between 2000 and 2009, during which time he held a number of senior roles within structured products structuring and distribution. Before this he was a risk management consultant at Arthur Andersen.