Canada's leader in asset servicing
History
CIBC Mellon is built on the strengths and traditions of our two parent companies - CIBC and BNY Mellon.
The story of CIBC is as old as Canada. Established in 1867, CIBC is now a leading North American financial institution.
Our U.S. parent, BNY Mellon - created by the merger of The Bank of New York and Mellon Financial Corporation - traces its roots back even farther. Founded by Alexander Hamilton in 1784, The Bank of New York has played a prominent role in the evolution of financial markets worldwide. Mellon was established in 1869 by Thomas Mellon, a prominent Pittsburgh lawyer and jurist. Over the years, Mellon established itself as one of the world’s leading providers of financial services.
BNY Mellon is built upon more than 350 years of shared experience and expertise in financial services. The companies’ combined expertise provides a unique advantage, delivering intelligent solutions that are global in scale, and providing superior value.
Based on this rich heritage, CIBC Mellon consistently delivers outstanding asset servicing to corporate and institutional clients..
We first began offering services in asset servicing to institutional investors in 1996, when CIBC joined forces with Mellon to form a 50 - 50 jointly owned company named CIBC Mellon Global Securities Services Company.
In 1997, CIBC purchased a 50 per cent interest in The R-M Trust Company from Mellon, and this entity became CIBC Mellon Trust Company; a new sister company to CIBC Mellon Global Securities Services Company.
CIBC Mellon Trust Company offered corporate clients trust services such as transfer agency services (stock transfer), corporate trust services (debt trustee), and employee share purchase plans from 1991 to 2010.
In 2010, CIBC Mellon’s corporate trust business merged with BNY Mellon’s corporate trust business under BNY Trust Company of Canada, extending BNY Trust Company of Canada’s leadership position in Canada’s corporate trust market.
Also in 2010, CIBC Mellon sold its issuer services business to Canadian Stock Transfer Company Inc. to strategically focus on its main line of business – asset servicing.
Today, CIBC Mellon is committed to delivering Canada’s leading asset servicing experience, helping clients meet their current growth strategies and preparing them for the opportunities and challenges of tomorrow.
Throughout the years, CIBC Mellon has acquired several books of business that have bolstered the company’s position in the asset servicing market including the Bank of Montreal's global custody business in 1999 and Canada Trust’s pension and custodial services business in 1997.
In 2002, we moved our Toronto head office to the newly-restored Canada Permanent Building. The meticulous renovations to our banking hall preserved the detailed craftsmanship and architectural elements of its original grandeur, which dates back to 1929. These efforts earned us an Award of Excellence from Heritage Toronto in 2003, and an Honourable Mention at the 2003 ARIDO Awards.
Over the last few years, CIBC Mellon has secured significant new business, growing our assets under administration from C$577 billion in 2003 to more than C$1 trillion as of June 15, 2011.
On July 1, 2007, Mellon Financial Corporation, our original U.S. parent company, merged with The Bank of New York to form BNY Mellon, a global financial services company with tremendous size, scale and scope.
BNY Mellon is the global leader in asset servicing with more than US$25.9 trillion in assets under custody and administration.
This renowned leadership positions in our core line of business reinforces the commitment to our joint venture and our clients.
We are committed to continuing to leverage our parent companies’ strengths to reinforce and deepen our strong and lasting client relationships.