CIBC and The Cognizant Classic in The Palm Beaches announce multi-year partnership

Rhea-AI Summary

CIBC has expanded its partnership with The Cognizant Classic in The Palm Beaches, becoming the official Private Wealth and Commercial Banking Partner of the PGA TOUR event. The multi-year extension includes entitlement rights to the Champions Club and presenting sponsorship of the Women's Leadership Forum. The 2024 tournament distributed over $6.5 million to charitable organizations, including $2 million to Nicklaus Children's Health Care Foundation. The event will return to PGA National Resort's Champion Course from February 26 to March 2, 2025.

Positive

• Secured multi-year partnership extension, strengthening market presence
• Association with charitable distribution of $6.5 million, enhancing brand reputation
• Strategic expansion into private wealth and commercial banking sectors through event partnership

Negative

• None.

  Partnership underscores CIBC's connectivity to the local community and clients

PALM BEACH GARDENS, Fla., Nov. 19, 2024 /PRNewswire/ - Today, The Cognizant Classic in The Palm Beaches and CIBC announced the expansion of their partnership, signing a multi-year extension with the tournament. The Cognizant Classic in The Palm Beaches is South Florida's premier PGA TOUR event, returning  to PGA National Resort's Champion Course, from February 26 to March 2, 2025. The expanded partnership for CIBC includes the title of official Private Wealth and Commercial Banking Partner of the event, entitlement rights to the Champions Club and the presenting sponsor of the Women's Leadership Forum.

"The expansion of our partnership with the Cognizant Classic reflects our dedication to supporting events that help foster connections while reinforcing our commitment to the community through local initiatives," said Shawn Beber, President and CEO, CIBC Bank USA. "We look forward to this enhanced partnership that will elevate the tournament experience for fans and further highlight how our team members and financial center in Palm Beach are continuing to build and deepen relationships."

During championship week, the Cognizant Classic hosts a Women's Leadership Forum, where more than 150 prominent women leaders will gather to discuss leadership development and celebrate female empowerment. Notably, 2025 will mark the inaugural year with CIBC as the presenting sponsor for this impactful event.

The charitable impact remains the north star of the Cognizant Classic. In 2024, the tournament distributed over $6.5 million to more than 50 philanthropic organizations, including $2 million to Nicklaus Children's Health Care Foundation, the event's main beneficiary. These charitable initiatives align closely with the values of CIBC, as they have directly engaged in supporting the Nicklaus Children's Health Care Foundation and their mission of providing healthcare to children in need.

CIBC will also continue to sponsor the Champions Club, offering guests distinctive views of the historic 17th hole complemented with prime seating and fine food and beverage options. Key amenities of the club include:

• A climate-controlled interior featuring a blend of indoor lounge seating and stadium style tip-up seats on the exterior patio
• All-inclusive food and beverage service throughout the day
• Buffet and bar locations conveniently situated within venue
• Multiple TVs streaming the tournament broadcast

"We couldn't be more thrilled to expand our relationship with CIBC for the 2025 edition of the Cognizant Classic," said Todd Fleming, Executive Director of the Cognizant Classic in The Palm Beaches. "CIBC has been a great partner and their dedicated commitment to supporting important causes in the community such as women's leadership and assisting local nonprofits is essential to the success of our event as we continue the tradition of giving back for years to come."

For more information on The Cognizant Classic in The Palm Beaches, please visit CognizantClassic.com.

About CIBC
CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, solutions and services in the United States, across Canada and around the world. In the US, CIBC Bank USA provides commercial banking, private and personal banking and small business banking solutions and CIBC Private Wealth offers investment management, wealth strategies and legacy planning. Visit us at cibc.com/US.

About the Cognizant Classic in The Palm Beaches 
The Cognizant Classic in The Palm Beaches, formerly The Honda Classic, has been a mainstay on the PGA TOUR for more than four decades. The tournament has a star-studded list of former champions and has made a massive impact on South Florida children's charities with $6.5 million distribution to more than 50 philanthropic organizations in 2024 and $75.4 million over the past 42 years, including more than $59.5 million in the 17 years since the tournament moved to PGA National Resort. The money impacts the lives of more than 100,000 children annually. Fans are encouraged to follow the Cognizant Classic in The Palm Beaches on Facebook, X and Instagram. For more information on the Cognizant Classic in The Palm Beaches, please visit CognizantClassic.com.

The CIBC logo is a registered trademark of CIBC, used under license. Member FDIC and Equal Housing Lender.

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SOURCE CIBC

FAQ

When is The Cognizant Classic 2025 taking place?

The Cognizant Classic will take place from February 26 to March 2, 2025, at PGA National Resort's Champion Course.

How much did The Cognizant Classic distribute to charity in 2024?

The tournament distributed over $6.5 million to more than 50 philanthropic organizations in 2024, including $2 million to Nicklaus Children's Health Care Foundation.

What is CIBC's role in The Cognizant Classic 2025?

CIBC is the official Private Wealth and Commercial Banking Partner, with entitlement rights to the Champions Club and presenting sponsor of the Women's Leadership Forum.