Company also awarded "Top-rated" status by domestic and cross-border clients in Global Custodian magazine's 2012 Agent Banks in Major Markets survey
TORONTO, Oct. 29, 2012 /CNW/ - CIBC Mellon has been named the best sub-custodian in Canada for a sixth consecutive year in Global Finance Magazine's 2012 "World's Best Sub-Custodians" ranking. Additionally, CIBC Mellon was recently awarded "Top-rated" status by domestic and cross-border/non-affiliated clients in Global Custodian's 2012 Agent Banks in Major Markets survey.
"CIBC Mellon prides itself on being Canada's leading asset servicing provider. These results demonstrate and acknowledge that international investors into Canada are increasingly turning to CIBC Mellon for the insights and expertise they need to excel in the Canadian marketplace," said David Linds, senior vice president, business development and relationship management, CIBC Mellon.
"Sub-custodial clients rely on their local market asset servicing provider for more than settlement and safekeeping: they are looking for a partner to provide relevant updates, on-the-ground perspective, and insights into domestic industry changes that may impact their businesses," said Alistair Almeida, vice president, business development and relationship management, global financial institutions, CIBC Mellon. "We are pleased to see our efforts recognized in these prestigious rankings, and we thank our clients for their participation and feedback."
CIBC Mellon's recognition by Global Finance as Canada's best sub-custodian for the sixth consecutive year extends the company's record as the only firm to be named Canada's best sub-custodian for five or more years since the survey was launched in 2003. CIBC Mellon was also the only Canadian sub-custodian to be awarded "Top-rated" status by both domestic and cross-border/non-affiliated clients in Global Custodian's 2012 survey.
About the Global Finance "World's Best Sub-Custodians" ranking
Each year, Global Finance magazine conducts an assessment of sub-custody products and services of asset servicing providers in countries around the world. Editors, reporters, and industry experts come together to evaluate the capabilities and level of expertise at each provider and then select a country best. To learn more, visit www.globalfinance.com.
About Global Custodian's Agent Banks in Major Markets survey
Now in its 23rd year, the Agent Banks in Major Markets survey, conducted by Global Custodian Magazine, is a rating by market participants of the clearing and settlement services provided by agent banks across the globe. In addition to awarding top-rated or commended status to participants, the survey provides benchmark scores in 13 service areas. Visit www.globalcustodian.com to learn more.
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 September 30, 2012, CIBC Mellon held more than CAD$1.1 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 September 30, 2012 had USD$27.9 trillion in assets under custody and administration, USD$1.4 trillion in assets under management and global payments processed averaging USD$1.4 trillion per day.
SOURCE: CIBC Mellon
For further information:
Brent Merriman, corporate communications, email@example.com, 416-643-5065