TORONTO, July 4, 2018 /CNW/ - CIBC Mellon announced today that it has appointed Karen Rowe as the company's new Chief Financial Officer (CFO). In her new appointment, Karen assumes responsibility for all of CIBC Mellon's CFO duties, including financial planning and analysis, accounting, corporate taxation and financial reporting.
Karen joins CIBC Mellon from Canada Pension Plan Investment Board (CPPIB), a professional investment management organization that invests the assets of the Canada Pension Plan. As Managing Director, Head of Investment Finance, Karen led the team responsible for finance, valuation and operations of the global private investment portfolio. Prior to that, Karen held senior-level roles at CIBC, including the position, Vice President, Finance, Global Merchant Banking, Canadian Investment, Corporate and Commercial Banking. Karen has more than 25 years of experience in leadership roles providing financial, strategic and operational management.
She holds a Chartered Professional Accountant (CPA, CA) designation, and Karen earned a Bachelor of Commerce, Honours degree from Memorial University of Newfoundland. Karen is a member of the Advisory Council for the School of Accounting and Finance at the Ted Rogers School of Management at Ryerson University.
Karen replaces Duncan Webb, who recently announced his retirement after a 35-year career in financial services.
"Karen is a welcome addition to the company and she brings a deep understanding of the financial services industry, particularly in the area of Canadian pensions and private markets," said Steven Wolff, President and CEO, CIBC Mellon. "We are excited to have Karen join CIBC Mellon's strong and dynamic leadership team. She is highly-qualified with the skills and experience to manage our continued financial growth."
"CIBC Mellon is well-regarded by institutional investors as Canada's leader in asset servicing, and I am proud to join the company and support its financial management," said Karen Rowe. "I am looking forward to contributing to CIBC Mellon's strong operational execution, service excellence and continuous improvement."
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, exchange-traded fund services, pension services, securities lending services, foreign exchange processing and settlement, and treasury services. As at March 31, 2018, CIBC Mellon had more than C$1.9 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 March 31, 2018 had US$33.5 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.
For more information, including CIBC Mellon's latest knowledge leadership on issues relevant to institutional investors active in Canada, visit www.cibcmellon.com.
SOURCE CIBC Mellon
For further information: Media Contact: Jennifer Israel, Media Relations and Corporate Communications, CIBC Mellon, 416-643-6538, [email protected]