Front Street Capital to leverage CIBC Mellon solutions for custody, fund accounting, recordkeeping and securities lending.
TORONTO, Feb. 22, 2016 /CNW/ - CIBC Mellon today announced that it has been selected to deliver asset servicing for Front Street Capital's lineup of 25 funds. CIBC Mellon will provide custody, fund accounting, recordkeeping, securities lending administration and investment information delivery for Front Street's diverse range of investment funds, including growth, income and tax-minded funds.
"Front Street Capital is a leading asset management provider for investors looking to elevate their returns with strategies and solutions structured to provide maximum tax benefits and superior performance in a variety of market conditions" said David Conway, Partner, Vice President and Secretary, and Chief Operating Officer, Front Street Capital. "We are pleased to select CIBC Mellon as our service provider based on their technology, people and expertise in custody and asset servicing in Canada."
"We are excited to welcome and support Front Street Capital," said Shane Kuros, Vice President, Business Development and Relationship Management, CIBC Mellon. "We look forward to supporting their investment funds with our proven array of asset servicing solutions."
About Front Street Capital
Privately held and independent, Toronto-based Front Street Capital has been serving Canadian advisors and investors for over a decade. The firm offers a diverse range of investments, including growth, income and tax-minded portfolios offered as mutual funds, hedge funds, and flow-through limited partnerships. Front Street Capital's independent-thinking and experienced portfolio managers have demonstrated long-term success in assessing global macroeconomic and structural themes driving the markets. www.frontstreetcapital.com
About CIBC Mellon
CIBC Mellon is a Canadian company exclusively focused on the investment servicing needs of Canadian institutional investors and international institutional investors into Canada. Founded in 1996, CIBC Mellon is 50-50 jointly owned by The Bank of New York Mellon (BNY Mellon) and Canadian Imperial Bank of Commerce (CIBC). CIBC Mellon's investment servicing solutions for institutions and corporations are provided in close collaboration with our parent companies, and include custody, multicurrency accounting, fund administration, recordkeeping, pension services, securities lending services, foreign exchange settlement and treasury services. As at December 31, 2015, CIBC Mellon had more than C$1.5 trillion of assets under administration on behalf of banks, pension funds, investment funds, corporations, governments, insurance companies, foreign insurance trusts, foundations and global financial institutions whose clients invest in Canada. CIBC Mellon is part of the BNY Mellon network, which as at December 31, 2015 had US$28.9 trillion in assets under custody and/or administration. CIBC Mellon is a licensed user of the CIBC trade-mark and certain BNY Mellon trade-marks, is the corporate brand of CIBC Mellon Global Securities Services Company and CIBC Mellon Trust Company, and may be used as a generic term to refer to either or both companies. www.cibcmellon.com or follow us on Twitter @CIBCMellon.
SOURCE CIBC Mellon
For further information: CIBC Mellon: Brent Merriman, Corporate Communications, 416-643-5065, email@example.com; Front Street Capital: Julian Scarfe, Director of Marketing, Front Street Capital, 416-915-2457 or 1-800-513-2832, firstname.lastname@example.org or www.frontstreetcapital.com.