- The Mellon Group's overall performance has climbed upwards for seven
consecutive years -
TORONTO, March 7 /CNW/ - Mellon Financial Corporation, for the third
consecutive year, is the number one provider of global custody services in
North America in the annual R&M Survey. The Mellon Group worldwide custody
providers - Mellon Global Securities Services, ABN AMRO Mellon, and CIBC
Mellon - overall ranked second in the survey which is based on feedback from
its clients and asset managers.
Highlights of the Mellon Group's performance include:
- Number one ranking overall in North America
- Number one ranking overall as rated by clients with assets of more
than $10 billion
- Number two ranking overall as rated by Asset Owners (e.g., pension
"Once again we are extremely pleased to be recognized as the number one
provider of global custody services in North America," said Thomas C.
MacMillan, CIBC Mellon president and chief executive officer. "These results
are a testament to the strong reputation that we have built in the market for
delivering a high calibre of service and products".
Workbench, the group's real time browser-based information delivery
product, was singled out by one respondent who commented that "Mellon's online
access and information is the most user-friendly of the ones that I have
used." While others complimented the strength of the group's client service
model noting that, "Our contacts at Mellon go above and beyond to accommodate
our needs so our mutual clients see a seamless operation. Mellon is a solid
custodian who listens and acts accordingly - supported by investment manager
forums and review meetings".
The R&M Survey is based on feedback from investment managers, pension
funds and other institutional global custody clients. The 2007 survey
collected more than 1,000 responses worldwide and asked participants to rate
providers across several service categories. Scores in each of the service
categories were combined to produce an overall ranking. This year, 31% of the
respondents were from North America.
CIBC Mellon is a 50-50 joint venture between Canadian Imperial Bank of
Commerce and Mellon Financial Corporation. CIBC Mellon Global Securities
Services Company is a leading provider of custody services including global
custody, multicurrency accounting, information delivery, securities lending
and foreign exchange services in Canada. CIBC Mellon is part of The Mellon
Group (CIBC Mellon, ABN AMRO Mellon Global Securities Services and Mellon
Global Securities Services), which has more than US$5.5 trillion in assets
under management, administration or custody, including US$995 billion under
management. CIBC Mellon Global Securities Services Company is a sister company
to CIBC Mellon Trust Company.
For further information:
For further information: Cheryl Ficker, director, corporate affairs,
CIBC Mellon, (416) 643-6368