December 2009

A message from our CEO

Dear valued clients,

I’m pleased to include my first Trade Talk message in our winter edition.  As we are approaching a new and exciting year, Trade Talk provides me with the opportunity to communicate with you directly about my reflections on 2009 and about my thoughts for 2010.

I joined CIBC Mellon in early November, and I am honoured to lead a company that takes great pride in delivering client service excellence. 

I‘m proud that our commitment to our clients was recognized in International Securities Finance (ISF) magazine’s 2009 Equity Lending Survey.  CIBC Mellon was ranked #1 in delivering securities lending service over the past year according to global securities borrowers who participated in the survey. 

This is a significant accomplishment for our company.  There was much uncertainty around securities lending after the Lehman Brothers default in the fall of 2008, and we are honoured to be recognized by our clients for our high service level and success during these challenging times.

In light of this result, we have dedicated this edition of Trade Talk to an exploration of the practice of securities lending in Canada.  Our feature articles highlight what aspects of our securities lending program contributed to our positive ISF survey outcome, how the securities lending industry has changed over the past year and how industry professionals are coming together to create awareness and to encourage best practices among lending participants in Canada.

As we move forward into 2010, we are committed to building on this success by maintaining our focus on what’s important – relentless pursuit of client service excellence, dedication to strong governance and focusing on your needs – each and every day.

I have much optimism about what we can achieve together.

I wish you a happy holiday season and the best of success in the year ahead.

Sincerely,

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Trade Talk® is provided for general information purposes only and CIBC Mellon Global Securities Services Company, CIBC Mellon Trust Company, CIBC, The Bank of New York Mellon Corporation and their affiliates make no representations or warranties as to its accuracy or completeness. Readers should be aware the content of this publication should not be regarded as legal, tax, accounting, investment, financial or other professional advice nor is it intended for such use.