Global Markets Analyst - Electronic Trading

Michael J. Sacks named 35th recipient of the Daniel H. Burnham Award for Distinguished Leadership. Published on Sep 17, 2026 The Chicagoland Chamber of Commerce is proud to announce that Michael J. Sacks, Chairman and Chief Executive Officer of GCM Grosvenor, has been selected as the 35th recipient of the Daniel H. Burnham Award for Distinguished Leadership. He will be honored at the 35th Annual Daniel H. Burnham Award Dinner, presented by CIBC, on Wednesday, November 18, 2026. Since its inception, the Burnham Award has celebrated civic-minded leaders whose efforts help shape Chicago into a thriving city for business and community. Now in its 35th year, the award honors individuals whose commitment to civic involvement exemplifies the vision of Chicago's famous urban planner Daniel H. Burnham. Meet this year's honoree. Michael J. Sacks Michael J. Sacks is Chairman and CEO of GCM Grosvenor, a global alternative asset management firm headquartered in Chicago, with offices in New York, Los Angeles, Toronto, London, Frankfurt, Tokyo, Hong Kong, and Seoul. Michael joined GCM Grosvenor in 1990 and became its chief executive in 1994. Under Michael's leadership, the firm grew from its position as an early participant in a cottage industry to its current position as a large diversified alternative asset management firm managing $97 billion for a global client base. From 2011 to 2019, Michael served as Vice-Chairman of World Business Chicago (WBC) under Mayor Rahm Emanuel, the city's delegate economic development organization. At WBC his leadership oversaw developing Chicago's Plan for Economic Growth and Jobs, a Digital Manufacturing Design Lab which was the recipient of a U.S. Department of Defense Award, a Global Cities Economic Partnership with Mexico City, and a Gateway Cities Agreement with China, as well as instituting a Supply Chain Innovation Network and launching the Greater Chatham Initiative to spur development and strengthen the economy of pillar communities on Chicago's south side. During that time Michael also served on Mayor Emanuel's Economic Council where he focused on achieving fair, evidenced-based funding for Illinois and Chicago Public Schools, city budget strategy, strengthening and reforming Chicago's employee pension funds, and renegotiating the city's parking meter lease to provide greater benefits for Chicago residents. Michael's philanthropic engagement is focused on driving educational equity in public schools, economic development and connecting arts and culture to communities. He has served on the Northwestern University Board of Trustees for 16 years. He and his wife Cari created the Sacks Family Scholarship Fund, which provides "no loan" scholarships to Chicago Public Schools students to attend Northwestern University. In total, 259 students have received a Sacks Family Scholarship, including 162 CPS students. In 2022, Michael and GCM Grosvenor partnered with Northwestern Medicine to create the GCM Grosvenor Discovery Program that provides career and technical education for CPS high school students, enabling them pathways to careers in the medical field. To date, 796 students have taken part in these programs. Michael is a founding board member of the Obama Foundation and previously served as the Chair of the 2024 Democratic National Convention Host Committee. His other current philanthropic and business board leaderships include Northwestern Memorial Healthcare, Art Institute of Chicago, Illinois Economic Development Corporation, After School Matters, and the Civic Committee of the Commercial Club of Chicago. Together, his business leadership and civic engagement have earned him a string of recent recognitions, including being named Crain's Chicago Business Executive of the Year - 2025, the Navy SEAL Foundation's 2025 Patriot Award, the Better Government Association's 2023 Daniel L. Goodwin Watchdog Award, and Chicago Cares' 2026 Lifetime Achievement Award. In October 2026, Michael will receive the first ever Nostra Aetete Award, given by the Rerum Novarum Committee in recognition of his commitment to the labor community. A native of Chicago, Michael graduated from Tulane University with a Bachelor of Arts degree in economics and completed a General Course certificate in political economy from the London School of Economics. He also earned a Master of Business Administration from the Northwestern University Kellogg School of Management, a Juris Doctor from Northwestern University's Pritzker School of Law, and was admitted to the Illinois State Bar Association. Join the Chamber in honoring Michael. J Sacks on November 18. On November 18, the Chicagoland Chamber of Commerce will honor Michael J. Sacks, Chairman and Chief Executive Officer of GCM Grosvenor, with the Daniel H. Burnham Award for Distinguished Leadership in recognition of his outstanding contributions to its community.

CIBC layoff reports spread from contact centres into core tech. Reports of job cuts at Canadian Imperial Bank of Commerce are moving beyond customer-service operations, with an anonymous employee now alleging layoffs inside a core technology department days after cuts at the bank's Halifax contact centre were reported by local media. A Reddit user identifying themselves as a CIBC technology employee said Monday that workers in their department had been let go, including employees who had spent more than 15 years at the bank. The post did not identify the technology group, number of positions affected, or provide documentation supporting the claim. The allegation follows SaltWire reporting that employees at CIBC's Halifax contact centre received layoff notices last week. According to the report, CIBC said workforce changes can occur as it reallocates employees and that it seeks to redeploy affected workers where possible. The bank did not publicly disclose the number of positions eliminated. Sponsored · Selkirk Copper Mines Separate Reddit threads have described restructuring in telephone banking and other functions. One employee said they were given a month to find another internal position after their role was eliminated. Another thread alleged roughly 40% of contact-centre employees had been affected across Toronto, Montreal, Regina, Halifax, and Fredericton, with some work supposedly shifting to contractors overseas. Neither the 40% figure nor the outsourcing destinations could be independently verified. A Canadian job listing posted September 12 for a 12-month CIBC Credit Cards CARE contact-centre representative in Halifax also indicates that at least some hiring continues in the operation, making broader claims that all Canadian positions are being replaced overseas unsupported by available evidence. The reports come shortly after CIBC posted $8.37 billion of third-quarter revenue, up 15% year over year, while reported net income rose 15% to $2.41 billion. Adjusted net income increased 26% to $2.65 billion. CIBC said it was investing in technology and artificial intelligence as part of efforts to modernize operations and improve efficiency, though the bank has not linked those investments to the reported layoffs. The cuts are also emerging against a softer Canadian labour market. Employment fell by 42,000 in August, including 19,000 fewer jobs among people aged 15 to 24, while youth unemployment stood at 12.9%. Ontario employment declined by 18,000. Information for this briefing was found via the sources and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.