CIBC Mellon sets new record as the first Canadian firm named 'Best Sub-Custodian in Canada' for five consecutive years

Also awarded 'Top-Rated' status by Leading and Domestic clients according to Global Custodian Magazine's Agent Bank in Major Markets Survey

TORONTO, Sept. 15, 2011 /CNW/ - CIBC Mellon Global Securities Services Company has been named the best sub-custodian in Canada for the fifth consecutive year in the 2011 Global Finance Magazine World's Best Sub-Custodians Survey. The win makes CIBC Mellon the only firm to be named the best sub-custodian in Canada for five years in a row since the survey began in 2003. The results were released in Global Finance Magazine's July/August edition. The awards ceremony will be held at The National Press Club in Washington DC on September 26, 2011.

"We were very proud to earn this recognition the first time - however, to become the first sub-custodian bank to achieve five back-to-back wins is just tremendous," said Tom Monahan, president and chief executive officer, CIBC Mellon. "Our employees are dedicated to delivering an excellent client experience, so when industry experts and clients choose us as best sub-custodian for five years in a row, that's an irrefutable proof-point."

The annual survey, now in its eighth year, recognizes institutions that consistently provide the best custody services in local markets and regions to global clients.  The survey solicits feedback from Global Finance editors, reporters and other expert sources to assess various categories including: 

  • Customer relations
  • Quality of service
  • Business continuity plans
  • Competitive pricing
  • Smooth handling of exception items
  • Technology platforms
  • Post-settlement operations
  • Knowledge of local regulations and practices

CIBC Mellon was also awarded 'Top-Rated' status by both Leading and Domestic clients in Global Custodian's Agent Banks in Major Markets Survey. The Leading client category represents the most sophisticated, larger and more experienced clients.  Since the category was created in 2007, CIBC Mellon has consistently earned 'Top-Rated' status.

"We are also very pleased to earn another 'Top Rated' status in both the Leading and Domestic Category of Global Custodian's Agent Bank in Major Markets Survey," said Mr. Monahan.

About CIBC Mellon
CIBC Mellon is 50-50 jointly owned by Canadian Imperial Bank of Commerce and The Bank of New York Mellon.  CIBC Mellon has more than $1 trillion in assets under administration and is a leading provider of financial services for institutions and corporations, providing superior asset servicing, multicurrency accounting, information delivery, unitholder recordkeeping, and securities lending services in Canada.  CIBC Mellon is part of the BNY Mellon network, which has US$26.3 trillion in assets under custody and administration and more than US$1.3 trillion in assets under management.  www.cibcmellon.com

CIBC Mellon is a licensed user of the CIBC trade-mark and certain BNY Mellon trade-marks.


SOURCE CIBC Mellon

For further information:

Lynne Coles, corporate affairs, CIBC Mellon, 416-643-5289, corporate_affairs@cibcmellon.com


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