About CIBC Mellon

About CIBC Mellon

CIBC Mellon is a Canadian company exclusively focused on the investment servicing needs of Canadian institutional investors and international institutional investors into Canada. Founded in 1996, CIBC Mellon is 50-50 jointly owned by The Bank of New York Mellon (BNY Mellon) and Canadian Imperial Bank of Commerce (CIBC). CIBC Mellon's investment servicing solutions for institutions and corporations are provided in close collaboration with our parent companies, and include custody, multicurrency accounting, fund administration, recordkeeping, pension services, exchange-traded fund services, securities lending services, foreign exchange processing and settlement, and treasury services.

As at December 31, 2016, CIBC Mellon had more than C$1.7 trillion of assets under administration on behalf of banks, pension funds, investment funds, corporations, governments, insurance companies, foreign insurance trusts, foundations and global financial institutions whose clients invest in Canada. CIBC Mellon is part of the BNY Mellon network, which as at December 31, 2016 had US$29.9 trillion in assets under custody and/or administration. CIBC Mellon is a licensed user of the CIBC trade-mark and certain BNY Mellon trade-marks, is the corporate brand of CIBC Mellon Global Securities Services Company and CIBC Mellon Trust Company, and may be used as a generic term to refer to either or both companies.

For more information – including CIBC Mellon's latest knowledge leadership on issues relevant to institutional investors active in Canada – visit www.cibcmellon.com or follow us on Twitter @CIBCMellon.

Boards of Directors

Samir Pandiri

Chairman, CIBC Mellon Boards of Directors and CEO of Asset Servicing, BNY Mellon

CIBC Mellon Global Securities Services Company

Michael Boluch

Executive Vice President, Technology, CIBC

John Ferren

Senior Vice President, Corporate CFO and Investor Relations, Finance, CIBC

Jeffrey Graham

Partner, Borden Ladner Gervais LLP

Peter Johnston

Executive Vice President, Client Service Delivery Shared Services, BNY Mellon

Susan Rimmer

Managing Director, Global Head of Debt Capital Markets, CIBC World Markets Inc.

James Slater

Executive Vice President and Global Head of Securities Finance, BNY Mellon

Geoffrey Weiss

Senior Vice President, Deposits, Auto Lending & Retail Product Integration, CIBC

CIBC Mellon Trust Company 

Michael Boluch

Executive Vice President, Technology, CIBC

John Ferren

Senior Vice President, Corporate CFO and Investor Relations, Finance, CIBC

Jeffrey Graham

Partner, Borden Ladner Gervais LLP

Peter Johnston

Executive Vice President, Client Service Delivery Shared Services, BNY Mellon

Steven Wolff

President & CEO, CIBC Mellon

Susan Rimmer

Managing Director, Global Head of Debt Capital Markets, CIBC World Markets Inc.

James Slater

Executive Vice President and Global Head of Securities Finance, BNY Mellon

Geoffrey Weiss

Senior Vice President, Deposits, Auto Lending & Retail Product Integration, CIBC

History

CIBC Mellon is built on the strengths and traditions of our two parent companies- CIBC and BNY Mellon.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.

Some key dates from our shared history:

1784: Alexander Hamilton founds The Bank of New York. The bank has played a prominent role in the evolution of financial markets worldwide.

1792: The Bank of New York is the first company listed on the New York Stock Exchange.

1867: The Canadian Bank of Commerce is established in Canada. The Honourable William McMaster, a prominent Toronto businessman and philanthropist, was the principal founder of the bank and its first president.

1869: Mellon Bank (Mellon) is established by Thomas Mellon, a prominent Pittsburgh lawyer and jurist. Over the years, Mellon establishes itself as one of the world’s leading providers of financial services.

1875: The Imperial Bank of Canada is established. Henry Stark Howland, previously vice-president of The Canadian Bank of Commerce, was the principal founder and first president of the new bank.

1961: The Canadian Bank of Commerce and the Imperial Bank of Canada merge to form the Canadian Imperial Bank of Commerce (CIBC). The transaction remains the largest merger of two chartered banks in Canadian history.

1991: The R-M Trust Company (R-M Trust) is formed by Mellon and others in Canada and begins providing transfer agency (stock transfer), corporate trust (debt trustee) and other trust services to corporate clients.

1996: CIBC joins forces with Mellon to form a 50 - 50 jointly-owned company named CIBC Mellon Global Securities Services Company which begins to offer asset servicing solutions to institutional investors.

1997: CIBC purchases a 50 per cent interest in R-M Trust; R-M Trust becomes CIBC Mellon Trust Company, a new sister company to CIBC Mellon Global Securities Services Company. CIBC Mellon Trust Company continues to provide transfer agency, corporate trust and other trust services, and the two companies work together to provide pension trust fund, custody and other asset servicing solutions under the brand CIBC Mellon.

1997: CIBC Mellon acquires the pension and custodial business of Canada Trust.

1999: CIBC Mellon acquires the Bank of Montreal's global custody business.

2002: CIBC Mellon cuts the ribbon on renovations to its Toronto head office in the architecturally significant Canada Permanent Building. The meticulous renovations to the banking hall preserved and in some cases recreated the detailed craftsmanship and architecture of the banking hall’s original 1929 grandeur. CIBC Mellon wins an Award of Excellence from Heritage Toronto in 2003, and an Honourable Mention at the 2003 ARIDO Awards.

2007: Mellon merges with The Bank of New York to form BNY Mellon, a global financial services company with tremendous size, scale and scope.

2009: CIBC Mellon launches its "Together in Action" employee volunteering program. 50 employees take advantage of paid time off for volunteering in the program's first year. 

2010: CIBC Mellon’s corporate trust business merges with BNY Mellon’s corporate trust business under BNY Trust Company of Canada, extending BNY Trust Company of Canada’s leadership position in the Canadian corporate trust market.

2010: CIBC Mellon sells its issuer services business to Canadian Stock Transfer Company Inc. to strategically focus on its main line of business – asset servicing.

2011: CIBC Mellon announces that it has surpassed C$1 trillion in assets under administration.

2013: BNY Mellon and CIBC Mellon merge securities lending operations. The integration establishes BNY Mellon’s Securities Finance business as one of the largest providers of securities lending services in the world, with trading offices in New York, Pittsburgh, Toronto, London and Hong Kong.

2015: CIBC Mellon surpasses C$1.5 trillion in assets under administration. The company earns the Canadian HR Award for "Best Reward and Recognition Strategy".  Two thirds of CIBC Mellon employees participate in the company's "Together in Action" volunteering program, taking advantage of paid time off to make a positive difference in their communities.

2016: CIBC Mellon celebrates its 20th anniversary. Global Finance names CIBC Mellon "Canada's best sub-custodian" for the 10th consecutive year.

Today, CIBC Mellon remains committed to being a leader in asset servicing, delivering global solutions in Canada with client-focused service excellence.

Credit Ratings

Rating AgencyLong-term Deposit RatingShort-term Deposit RatingLong-term Issuer RatingCounterparty Risk AssessmentOutlook

Moody's

A1

P-1

A1

Aa3

Stable

DBRS

AA (low)

R-1 (middle)

- -

- -

Stable

 

Source:

Information as at March 21, 2016 for DBRS rating and October 24, 2016 for Moody's rating.

Industry Awards and Recognition

At CIBC Mellon, our aim is to deliver outstanding customer service, each and every day, by employees who are passionate about what they do. Along with our commitment to exceptional service, we seek to provide a suite of robust asset servicing products.

CIBC Mellon's focus on service excellence, our passionate team and commitment to ongoing product/service enhancements for the benefit of our clients is regularly recognized through numerous industry honours. 

2016

2015

2014

2013

2012

  • Best in Class status in 29 service categories
    Global Custodian: Agent Banks in Major Markets
  • Best Sub-Custodian in Canada
    Global Finance magazine: World’s Best Sub-Custodian 2012 Awards (6th consecutive year)
  • Ranked Number One in the World for Relationship Management
    Global Investor/ISF 2012 Equity Lending Survey
  • Achievers 50 Most Engaged Workplaces™ in Canada
    Achievers
  • World’s Top Regionally-Focused Lender
    2011 Global Securities Lending Awards

2011

  • Best Sub-Custodian in Canada
    Global Finance magazine: World’s Best Sub-Custodian 2011 Awards (5th consecutive year)

2010

  • Ranked First in Canadian Sub-Custody
    Global Custodian magazine’s 2010 Agent Banks in Major Markets Survey
  • Placed #1 in four categories
    Global Investor/ISF 2010 Equity Lending Survey
    • Relationship Management
    • Stability of Supply
    • Operations - Collateral Management
    • Collateral Flexibility Non Cash
  • Best Sub-Custodian in Canada
    Global Finance magazine: World’s Best Sub-Custodian 2010 Awards (4th consecutive year)
  • #1 Provider of Global Custody Services in Canada
    2010 R&M Consultants Global Custody Survey

2009

  • Ranked #1 in Securities Lending Service
    Securities Finance (ISF) magazine’s 2009 Equity Lending Survey
  • Ranked First in Canadian Sub-Custody
    Global Custodian magazine’s 2009 Agent Banks in Major Markets Survey
  • Best Sub-Custodian in Canada
    Global Finance magazine: World’s Best Sub-Custodian 2009 Awards (3rd consecutive year)
  • Ranked #1 overall in five categories
    2009 R&M global custody survey
    • The Experts (respondents using five or more custodians)
    • U.S.
    • UK Asset Owners
    • U.S. Asset Owners
    • U.S. Asset Managers

2008

  • Ranked First in Canadian Sub-Custody
    Global Custodian magazine’s 2008 Agent Banks in Major Markets Survey
  • Custodian of The Year
    ICFA magazine’s inaugural Global Awards
  • Best Sub-Custodian in Canada
    Global Finance magazine: World’s Best Sub-Custodian 2008 Awards (2nd consecutive year)

2007

  • Ranked number one in relationship management to securities borrowers
    ISF (International Securities Finance) magazine’s 2007 Equity Lending Survey
  • Best Sub-Custodian in Canada
    Global Finance magazine: World’s Best Sub-Custodian 2007 Awards

2006

  • Top-rated Custodial Services Provider
    Global Custodian magazine’s 2006 Agent Banks in Major Markets Survey
  • Winner of the 2006 Globe and Mail Toronto Business for the Arts Award
  • Ranked Canada’s Custodial Services Provider of Choice
    Annual Investment Manager Survey

2005

  • Highest overall client satisfaction rating
    Group Five’s annual Shareholder Services Benchmarking Study
  • Canada’s #1 Sub-Custodial Services Provider
    Global Custodian magazine’s 2005 Review of Agent Banks in Major Markets
  • Ranked Canada’s Custodial Services Provider of Choice
    Annual Investment Manager Survey

Doing Well by Doing Right

Corporate social responsibility at CIBC Mellon

Corporate social responsibility helps CIBC Mellon deliver better results for our clients, our colleagues and our communities.

We believe success is measured not only by how we perform financially, but also by our willingness to take responsibility for the impact of our actions - on clients, employees, shareholders, partners, our communities and the environment.

We believe that by acting with responsibility, care and commitment at all times, we can make a positive difference in our communities, motivate our employees and serve our clients more effectively.

Learn more by downloading our most recent overview of: Corporate Social Responsibility at CIBC Mellon.

Social finance, from ESG to SRI

According to BNY Mellon research, social finance refers to any investment activity that generates financial returns and includes social and environmental impact. Social finance encompasses diverse investment strategies and products across asset classes that deliver a range of risk-adjusted returns and align with different investor motivations and goals. Social finance includes four primary strategies: socially responsible investing (SRI), environmental finance, development finance and impact investing.

Social finance impacts are already emerging via investor demands and regulatory changes. In particular, pension plan sponsors are now beginning to investigate considerations of environmental, social and governance (ESG) factors.

For insights on social finance, read CIBC Mellon's latest knowledge leadership article, Social Finance, From ESG to SRI: Opportunities and Challenges.

Code of Conduct

At CIBC Mellon, we are committed to understanding our clients’ needs and exceeding their expectations.  We deliver on this promise through the efforts of our dedicated and skilled employees.

In everything we do, our Code of Conduct provides us with personal and business guidelines to ensure we act in the best interests of our clients, our employees and our company.

The Code applies to all employees at CIBC Mellon, including full-time, part-time and contract employees, and officers of the corporation.

To help employees understand the Code, they complete an online testing program, and certify each year that they will adhere to the Code and its principles.

Read CIBC Mellon's Code of Conduct (PDF format)

CIBC Mellon’s Commitment to Human Rights

Respecting Human Rights

CIBC Mellon is committed to the protection and preservation of human rights.

Our commitment to human rights is embedded in the culture and values that define our company and is reflected in our policies and actions toward our employees, suppliers, clients and the communities where we do business. CIBC Mellon maintains and enforces an environment where people are treated fairly in the workplace regardless of personal characteristics, such as age, gender, disability, race/ethnicity, sexual orientation, gender identity, gender expression, and family/marital status.

We strive to create an environment of integrity and respect for all individuals. We are a company where employees are encouraged to make their voices heard and we recognize that new ideas and business success flourish in a culture of collaboration, creativity and employee empowerment. CIBC Mellon employees are engaged, professional and care about each other and their communities, and as such we do not tolerate corruption, discrimination, harassment or forced or child labour in any form.

We are committed to an inclusive, safe and ethical workplace as demonstrated within our Code of Conduct and our other corporate and human resources policies. CIBC Mellon complies with Canada’s Charter of Rights and Freedoms and all Canadian laws concerning employment and individuals' rights.

As responsible corporate citizens, we work with clients, suppliers, charities and other stakeholders to encourage cultural, economic and social development.