TORONTO and BOSTON, Oct. 1, 2014 /CNW/ - CIBC Mellon has been awarded "Market Outperformer: Canada" and "Outperformer Canada: Settlement Services" designations in Global Custodian's 2014 Agent Banks in Major Markets survey. The survey results were announced on September 29, 2014 at the Sibos conference in Boston.
According to Global Custodian's analysis of client responses, "'Committed to business, solid and steady provider' may not sound exciting, but compared to its rivals, CIBC Mellon embodies a steadiness that some of its competitors lack." Global Custodian noted the company's particular strengths in relationship management and settlement, and affirmed that "CIBC Mellon appears well placed to further expand its business over the course of 2015."
"Global institutional investors into Canada know they can rely on CIBC Mellon to deliver relevant Canadian market insights, outstanding client service and dependable execution," said Shane Kuros, vice president and head of sales, CIBC Mellon. "We are grateful to our clients for highlighting CIBC Mellon's strengths in the Canadian asset servicing marketplace in this prestigious survey."
CIBC Mellon's success in Global Custodian's Agent Banks in Major Markets survey continues the company's strong performance across industry awards in 2014. Earlier this year, CIBC Mellon was named the top sub-custodian operating in a major market in the Americas by Global Custodian magazine, one of one of 25 global awards presented in honour of Global Custodian magazine's 25th anniversary. In 2014, CIBC Mellon was also named Canada's top sub-custodian by Global Finance magazine, honoured as Canada's Custodian of the Year by Custody Risk Magazine, and cited as one of the Achievers 50 Most Engaged Workplaces™ in Canada.
About Global Custodian magazine's Agent Banks in Major Markets survey
Now in its 25th year, Global Custodian magazine's Agent Banks in Major Markets survey measures client perceptions across approximately 50 service questions organized around six core categories including the quality of clearing and settlement, asset servicing, technology and client service as provided by agent banks around the world. The Survey results are based on thousands of responses from all geographies covering the performance of more than 80 providers in 27 major markets. Visit www.globalcustodian.com to learn more.
About Global Custodian magazine
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 June 30, 2014, CIBC Mellon had more than CAD$1.4 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 network, which as at June 30, 2014 had USD$28.5 trillion in assets under custody and administration and USD$1.6 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.
SOURCE: CIBC Mellon
For further information: Brent Merriman, corporate communications, CIBC Mellon, 416-643-5065, [email protected]; Matt Aldred, surveys and research, Global Custodian, +44 (0) 20 7397 3818, [email protected]