TORONTO, Oct. 26 /CNW/ - CIBC Mellon Global Securities Services Company has completed the acquisition of the unitholder recordkeeping and fund administration business of Felcom Data Services Inc., a wholly-owned subsidiary of Jovian Capital Corporation. The transaction, announced on October 8, 2009, includes the transfer of Felcom's client contracts and the majority of the company's employees to CIBC Mellon.
"The acquisition of our new recordkeeping and fund administration services underscores our commitment to offering our clients a premier asset servicing solution that can be bundled and customized to deliver enhanced productivity and ongoing growth," said Thomas C. MacMillan, president and chief executive officer, CIBC Mellon. "We welcome to CIBC Mellon Felcom's team of professionals, who are dedicated to providing exceptional client service and expert operational value."
With the closing of this acquisition CIBC Mellon clients can further benefit from an enhanced, fully-integrated asset servicing solution that can meet their short-term needs and long-term goals. Investment fund clients will greatly benefit from the extensive range of services they will have access to, including unitholder recordkeeping and fund administration, market-leading online reporting and a wealth of custody opportunities.
CIBC Mellon is 50-50 jointly owned by Canadian Imperial Bank of Commerce and BNY Mellon. CIBC Mellon Global Securities Services Company is a leading provider of financial services for institutions and corporations, providing superior asset servicing, multicurrency accounting, information delivery, securities lending and foreign exchange services in Canada. CIBC Mellon is part of BNY Mellon, which has US$22.1 trillion in assets under custody and administration and more than $966 billion in assets under management. CIBC Mellon Global Securities Services Company is a sister company to CIBC Mellon Trust Company.
SOURCE CIBC Mellon
For further information: For further information: Rosa Damonte, Director, Corporate Affairs, CIBC Mellon, (416) 643-6368