TORONTO, July 5, 2016 /CNW/ - To mark the 20th anniversary of the founding of the CIBC Mellon joint venture, Tom Monahan, President and CEO performed the ceremonial market open for the Toronto Stock Exchange (TSX) on July 4, 2016. Joining Tom at the event were members of CIBC Mellon's executive management team and a selection of CIBC Mellon employees who helped represent the company's commitments to client service, operational execution and employee engagement.
"CIBC Mellon's vision of being the leader in asset servicing, delivering global solutions in Canada with client-focused service excellence is built around an outstanding team of engaged employees, on the strengths of its parent companies and with a relentless commitment to continuous improvement," said Tom Monahan. "Our company has seen tremendous growth in keeping with its expanding client base, having grown to more than 1,300 employees, six offices across Canada and C$1.6 trillion of assets under administration on behalf of institutional investors in Canada."
"We continue to strengthen relationships and build solutions that help institutional investors respond to an evolving business, regulatory and market environment," said Rob Ferguson, Senior Vice President, Capital Markets, Business Development and Relationship Management, CIBC Mellon. "Our employees put clients at the centre of all that we do and continue to act with diligence, commitment and care in delivering asset servicing solutions for our clients. CIBC Mellon will no doubt continue to distinguish itself as a Canadian leader in asset servicing as we work to meet the evolving needs of institutional investors in Canada and global financial institutions active in Canada."
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, exchange-traded fund services, recordkeeping, pension services, securities lending services, foreign exchange processing and settlement, and treasury services. As at March 31, 2016, CIBC Mellon had more than C$1.6 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, 2016 had US$29.1 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. Twitter: @cibcmellon
CIBC Mellon continues to grow with its clients and we are always looking for talented people to join our engaged team. Explore careers with CIBC Mellon at www.cibcmellon.com/careers
Highlights from CIBC Mellon's History
1784: Alexander Hamilton founds The Bank of New York. The bank has since played a prominent role in the evolution of financial markets worldwide.
1867: The Canadian Bank of Commerce is established in Canada. The Honourable William McMaster, a prominent Toronto businessman and philanthropist, was the principal founder of the bank and its first president.
1869: Mellon Bank (Mellon) is established by Thomas Mellon, a prominent Pittsburgh lawyer and jurist.
1875: The Imperial Bank of Canada is established. Henry Stark Howland, previously vice-president of The Canadian Bank of Commerce, was the principal founder and first president of the new bank.
1961: The Canadian Bank of Commerce and the Imperial Bank of Canada merge to form the Canadian Imperial Bank of Commerce (CIBC). The transaction remains the largest merger of two chartered banks in Canadian history.
1996: CIBC joins forces with Mellon to form a 50 - 50 jointly-owned company named CIBC Mellon Global Securities Services Company which begins to offer asset servicing solutions to institutional investors.
1997: CIBC Mellon acquires the pension and custodial business of Canada Trust.
2002: CIBC Mellon cuts the ribbon on renovations to its Toronto head office in the architecturally significant Canada Permanent Building, for which CIBC Mellon wins an Award of Excellence from Heritage Toronto, and an Honourable Mention at the ARIDO Awards.
2007: Mellon merges with The Bank of New York to form BNY Mellon, a global financial services company with tremendous size, scale and scope.
2009: CIBC Mellon launches its "Together in Action" employee volunteering program. 50 employees take advantage of paid time off for volunteering in the program's first year.
2010: CIBC Mellon sells its issuer services business to Canadian Stock Transfer Company Inc. to strategically focus on its main line of business – asset servicing.
2011: CIBC Mellon announces that it has surpassed C$1 trillion in assets under administration.
2013: BNY Mellon and CIBC Mellon merge securities lending operations. The integration establishes BNY Mellon's Securities Finance business as one of the largest providers of securities lending services in the world, with trading offices in New York, Pittsburgh, Toronto, London and Hong Kong.
2015: CIBC Mellon surpasses C$1.5 trillion in assets under administration. The company earns the Canadian HR Award for "Best Reward and Recognition Strategy." Two thirds of CIBC Mellon employees participate in the company's "Together in Action" volunteering program, taking advantage of paid time off to make a positive difference in their communities.
2016: CIBC Mellon is #1 in Canada according to surveys and industry rankings organized by Global Finance, Global Custodian and Global Investor/ISF. CIBC Mellon celebrates its 20th anniversary, opening the Toronto Stock Exchange on July 4, 2016.
SOURCE CIBC Mellon
Image with caption: "CIBC Mellon President and CEO Tom Monahan, together with members of the company's executive team and employees from across the company celebrated the joint venture's 20th anniversary by opening the Toronto Stock Exchange on July 4, 2016. (CNW Group/CIBC Mellon)". Image available at: http://photos.newswire.ca/images/download/20160705_C4507_PHOTO_EN_727322.jpg
For further information: Brent Merriman, Corporate Communications, CIBC Mellon, 416-643-5065, [email protected]