TORONTO, June 23 /CNW/ - Today, CIBC Mellon Global Securities Services
Company announced its reappointment by Russell Investments Canada to provide
global custody, fund accounting, foreign exchange and securities lending
"Russell Investments' products and multi-manager approach place great
operational complexity on our asset servicing providers," said Raj Vijh of
Russell Investments Canada. "We firmly believe that the strong partnership we
have developed with CIBC Mellon brings us an unmatched level of efficiency,
accuracy and attention to our needs."
"We are honoured to be reappointed by Russell Investments," said Thomas
C. MacMillan, president and chief executive officer, CIBC Mellon. "We look
forward to continuing to help Russell meet its long-term strategic objectives
by facilitating greater operational efficiency and lower risk through our
robust technology platform."
Russell Investments Group provides strategic advice, world-class
implementation, state-of-the-art performance benchmarks and a range of
institutional-quality investment products. With more than C$218 billion in
assets under management as of April, 2008, Russell Investments serves
individual, institutional and advisor clients in more than 40 countries.
Founded in 1936, Russell Investments is a subsidiary of Northwestern Mutual
and is headquartered in Tacoma, Wash. Russell Investments Canada Limited is a
wholly-owned subsidiary of Frank Russell Company.
CIBC Mellon is 50-50 jointly owned by Canadian Imperial Bank of Commerce
and The Bank of New York Mellon Corporation. CIBC Mellon Global Securities
Services Company is a leading provider of financial services for institutions
and corporations, providing superior asset servicing, multicurrency
accounting, information delivery, securities lending and foreign exchange
services in Canada. CIBC Mellon is part of BNY Mellon Asset Servicing, which
has more than US$ 23 trillion in assets under custody and administration.
CIBC Mellon Global Securities Services Company is a licensed user of the
CIBC and Mellon trademarks.
For further information:
For further information: Cheryl Ficker, director, corporate affairs,
CIBC Mellon, (416) 643-6368