Award in honour of Global Custodian's 25th Anniversary recognizes CIBC Mellon's excellence and consistently strong performance on client surveys
TORONTO, March 24, 2014 /CNW/ - CIBC Mellon has been named the top subcustodian operating in a major market in the Americas by Global Custodian magazine. The "Single Market Sub-Custody in the Americas: Major Markets" award was one of 25 global awards presented in London on March 13, 2014 in honour of Global Custodian magazine's 25th anniversary, and recognizes CIBC Mellon's consistent and excellent performance on client surveys administered by Global Custodian.
In its most recent published assessment of the Canadian subcustody market, Global Custodian magazine noted that "CIBC Mellon has witnessed an increase in the value of sub-custody assets under administration due to the combined effect of market increases and new business. This year, it is out front among leading clients, beating the market average across virtually all service areas."
"We take client service extremely seriously here at CIBC Mellon, and we remain grateful for the strong and positive feedback our clients have provided through Global Custodian magazine's surveys over the years. We are extremely proud that our service to clients has been recognized as not only the best in Canada, but as number one across all major Americas markets," said David Linds, senior vice president, business development and relationship management, CIBC Mellon.
"Global investors into Canada know they can rely on CIBC Mellon to provide strong service, critical market information and diligent execution to support their efforts to achieve their investment goals in this marketplace. This prestigious award reinforces the value of our commitment to service excellence and continuous improvement, and we remain grateful to our clients for taking the time to participate in these surveys," said Alistair Almeida, vice president, business development and relationship management, global financial institutions.
About Global Custodian
Founded in 1989, the original focus of Global Custodian magazine was on securities processing operations: articles that explore how shares trade and settle and are held. Its editorial scope has since expanded to include fund administration, securities lending and financing, prime brokerage and the infrastructure of the global securities industry (CSDs, ICSDs, payments systems and other industry bodies and initiatives). The editorial content of the magazine is now also supported by industry-standard surveys that address how the performance of custodian banks, fund administrators, prime brokers and tri-party securities financing providers compare with each other and within individual markets.
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, unitholder recordkeeping, pension services, securities lending services, foreign exchange settlement and treasury services. As at December 31, 2013, CIBC Mellon had more than CAD$1.3 trillion of assets under administration on behalf of 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 global network, which as of December 31, 2013, had USD$27.6 trillion in assets under custody and/or administration and USD$1.58 trillion in assets under management. CIBC Mellon is the corporate brand of CIBC Mellon Trust Company and CIBC Mellon Global Securities Services Company and may be used as a generic term to reference either company or both companies collectively.
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 Mellon trade-marks.
SOURCE: CIBC Mellon
For further information:
Paul Cunliffe, Corporate Communications, CIBC Mellon email@example.com, 416-643-5289