TORONTO, Jan. 27 /CNW/ - Today, CIBC Mellon Global Securities Services
Company announced its selection by Marine Atlantic Inc. to provide custody,
accounting, and administrative services for the company's $520 million pension
"We put a high-value on transparency of our pension fund administration,"
said Rhona Green, vice president of human resources at Marine Atlantic Inc.
"CIBC Mellon's commitment to delivering real-time information, exceptional
knowledge of benefit payment administration and robust technology put the
company head and shoulders above its competition."
"CIBC Mellon's dedication to safety, reliability and superior risk
management helps pension plan sponsors meet and exceed their objectives," said
David S. Linds, senior vice president, business development and client
relationship management at CIBC Mellon. "Our clients have peace of mind in
knowing that CIBC Mellon's internal controls are important elements in the
successful administration of their programs."
Marine Atlantic Inc. is a federal Crown corporation that reports to
Parliament through the Minister of Transport. The corporation provides a
constitutionally-mandated passenger and commercial marine transportation
system between the island of Newfoundland and the province of Nova Scotia.
CIBC Mellon is 50-50 jointly owned by Canadian Imperial Bank of Commerce
and The Bank of New York Mellon Corporation. 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 Asset Servicing, which
has more than US$23 trillion in assets under custody and administration and
more than $1.1 trillion in assets under management. CIBC Mellon Global
Securities Services Company is a sister company to CIBC Mellon Trust Company.
Visit CIBC Mellon's website at www.cibcmellon.com.
For further information:
For further information: Rashi Sharma, manager, corporate affairs, CIBC
Mellon, (416) 643-6562