Canadian investment industry innovator Som Seif chooses CIBC Mellon for
global custody, fund accounting and securities lending services
TORONTO, Feb. 6, 2013 /CNW/ - CIBC Mellon today announced that Purpose
Investments Inc. ("Purpose") has selected the company to deliver a full
suite of asset servicing solutions, including custody, fund accounting,
ETF administration and securities lending services. CIBC Mellon will
provide the newly-launched Purpose with a global custody solution via
the BNY Mellon global network, and access to the Workbench investment
information delivery platform.
"Purpose Investments is focused on offering great investment strategies
at fair prices, and bringing real value and innovation to the Canadian
marketplace" said Som Seif, president and chief executive officer, of
Purpose. "Critical to our success is selecting highly capable service
providers like CIBC Mellon. We have had a successful past working
relationship with CIBC Mellon and their proven asset servicing
expertise and outstanding technology, which will help our firm deliver
strong performance while keeping investment costs down."
"We are excited to be working with Mr. Seif as he launches Purpose
Investments here in Canada," said Gordon Kosokowsky, executive
director, business development, CIBC Mellon. "Like the team at
Purpose, CIBC Mellon shares a culture that is deeply invested in
delivering outstanding service and great results for our clients.
We're proud to help power Purpose into the future."
About Purpose Investments
Purpose Investments Inc. is an investment management firm inspired by
the belief that all investors should have access to great investment
products at reasonable fees. At Purpose, our goal is to democratize the
investment industry. We aim to help Canadians be better investors by
breaking down barriers that currently inhibit them from utilizing
sophisticated and intelligent investment strategies. We do this by
creating investment products that are designed for investors who are
focused on managing risk, want to access innovative strategies and have
a long-term perspective on investing.
For more information, visit www.purposeinvest.com or follow Purpose on Twitter @purposeinvest.
About CIBC Mellon
CIBC Mellon provides asset servicing solutions, including custody,
multicurrency accounting, fund administration, unitholder
recordkeeping, pension services and securities lending services, for
institutions and corporations. We have over 1,100 people dedicated to
supporting more than 1,200 client relationships with Canadian banks,
pension funds, investment funds, corporations, governments, insurance
companies, foreign insurance trusts, foundations and global financial
institutions whose clients invest in Canada. As at December 31, 2012,
CIBC Mellon held more than CAD$1.2 trillion of assets under
administration on behalf of our clients. CIBC Mellon is headquartered
in Toronto, with offices across Canada in Vancouver, Calgary, London,
Montreal and Halifax. Founded in 1996, CIBC Mellon is 50-50 jointly
owned by Canadian Imperial Bank of Commerce (CIBC) and The Bank of New
York Mellon Corporation (BNY Mellon), the world's largest custodian.
CIBC Mellon is part of the BNY Mellon network, which as at December 31,
2012 had USD$26.7 trillion in assets under custody and administration,
USD$1.4 trillion in assets under management and global payments
processed averaging USD$1.5 trillion per day.
For more information - including CIBC Mellon's latest knowledge
leadership on issues relevant to institutional investors active in
Canada - visit www.cibcmellon.com or follow us on Twitter @CIBCMellon.
CIBC Mellon is a licensed user of the CIBC trade-mark and certain BNY
SOURCE: CIBC Mellon
For further information:
Brent Merriman, corporate communications, CIBC Mellon, firstname.lastname@example.org, 416-643-5065
Dan Rubin, vice president, marketing, Purpose Investments Inc., email@example.com, 416-583-3853.