CIBC Mellon to Provide Asset Servicing Solutions to TRIO

TORONTO, Sept. 12, 2011 /CNW/ - CIBC Mellon has been chosen to provide its market-leading asset servicing solutions to TRIO. CIBC Mellon will be delivering a product suite that includes custody, pension accounting, benefit payments, and its real-time online information delivery platform - Workbench. TRIO offers health care benefits and pension plan services to employees and elected officials in more than 100 municipalities across Newfoundland and Labrador and has more than $50 million in assets under administration.

"In addition to their reputation in the industry, CIBC Mellon has shown a real commitment to our business.  Having an asset servicing provider with the technology and the expertise to tailor solutions specifically for our needs was critical to the selection process," said Terry E. Taylor, general manager, TRIO.

"Our business growth in Newfoundland and Labrador stems from the bonds we have forged with our clients and with the community. CIBC Mellon is pleased to further strengthen its connection to the region through our new relationship with TRIO Benefits," said Tom Monahan, president and chief executive officer, CIBC Mellon.

CIBC Mellon is committed to delivering superior client service, as evidenced by its recent awards:

  • 2011 - Best Sub-Custodian in Canada for the fifth consecutive year.1
  • CIBC Mellon Global Securities Services Company ranks first in Canadian sub-custody according to leading and cross-border clients and is "Top-Rated" by domestic clients in Global Custodian magazine's 2010 Agent Banks in Major Markets Survey.
  • CIBC Mellon ranks No.1 in Relationship Management, Stability of Supply, Operations - Collateral Management, and Collateral Flexibility Non Cash. 2

About TRIO

TRIO provides pension, and health and insurance benefit programs to municipalities and municipal organizations throughout Newfoundland and Labrador. Operated by Newfoundland and Labrador Municipal Employee Benefits Inc. (NLMEB), TRIO is an organization for municipalities run by municipal officials. Trio has been serving its clients since 1978.
www.triobenefits.ca

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

Visit CIBC Mellon at Sibos, Toronto, September 19-23, 2011

1 Global Finance Magazine's 2011 World's Best Sub-Custodians Survey
2 Global Investor / isf magazine's 2010 Equity Lending Survey

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


SOURCE CIBC Mellon

For further information:

Brent Merriman, corporate affairs, CIBC Mellon - corporate_affairs@cibcmellon.com, 416-643-5065
Terry E. Taylor, general manager, TRIO - ttaylor@triobenefits.ca, 709-738-7338


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