TORONTO, Nov. 10 /CNW/ - CIBC Mellon Global Securities Services Company announced that it was ranked No. 1 in delivering securities lending service over the past year, according to global securities borrowers participating in International Securities Finance (ISF) magazine's 2009 Equity Lending Survey.
"The past year has been extremely challenging for the securities lending industry," said Craig MacDonald, editor, ISF magazine. "CIBC Mellon provided borrowers with stability and flexibility when they needed it the most through strong relationship management and through a willingness to accommodate unique client requests."
"During a period of unprecedented market change, CIBC Mellon worked diligently to provide its clients with transparency and flexibility while also managing risk," said James Slater, senior vice president and head of capital markets, CIBC Mellon. "Our sharp focus on the needs of borrowers continues to help us generate above-average returns for our securities lending clients."
The annual ISF equity lending survey is an impartial evaluation of how securities borrowers and lenders view each other based on their securities lending experience over a given year. The results allow market participants to benchmark performance, while understanding changing client needs that drive continuous improvement within the securities lending industry.
CIBC Mellon provides agent lending services on behalf of its clients and is recognized as a leading Canadian agent lender.
CIBC Mellon is 50-50 jointly owned by Canadian Imperial Bank of Commerce and BNY Mellon. CIBC Mellon Global Securities Services Company is a leading provider of financial services for institutions and corporations, providing superior asset servicing, multicurrency accounting, information delivery, securities lending and foreign exchange services in Canada. CIBC Mellon is part of BNY Mellon, which has US$22.1 trillion in assets under custody and administration and more than US$966 billion in assets under management.
CIBC Mellon is a licensed user of the BNY Mellon and CIBC trademarks.
SOURCE CIBC Mellon
For further information: For further information: Rosa Damonte, corporate communications, CIBC Mellon, (416) 643-6368