For the second year in a row, CIBC Mellon was awarded #1 spot as best sub-custodian in the world by Global Finance Magazine.
TORONTO, Monday, September 25, 2023 – CIBC Mellon has been named “World's Best Sub-custodian” by Global Finance Magazine. CIBC Mellon was awarded this title for the second year in a row as part of Global Finance Magazine's ranking of “The World's Best Banks 2023 – Global Honorees.” The award results were announced by Global Finance on July 25, 2023, formally presented in Toronto on September 19, 2023 as part of the Sibos conference, and will be featured in Global Finance's October print and digital editions, as well as online at GFMag.com.
“In an increasingly fragmented world, the challenges for global financial institutions continue to rise relentlessly. Against that backdrop, it is an enormous honour to be recognized as the best in the world at what we do,” said Mal Cullen, Chief Executive Officer, CIBC Mellon. “With thanks to Global Finance, our talented teams who contributed to our success, and engaged clients for their support. We remain committed to delivering unparalleled service, cutting-edge technology and innovative solutions in this dynamic landscape.”
“With the return of inflation, supply chain reorganizations and rapid technological advancement fueled by artificial intelligence, what was considered great in the past is now considered fair,” said Joseph D. Giarraputo, founder and editorial director of Global Finance. “For three decades, corporate and banking decision-makers have relied on Global Finance’s Best Bank Awards to help them separate good financial partners from the best financial partners.”
“We are immensely proud to once again hold the title of World's Best Sub-custodian by Global Finance,” said Richard Anton, Chief Operations Officer, CIBC Mellon. “This achievement underscores the unwavering commitment and proficiency of our teams, who consistently go above and beyond to serve our clients with excellence. CIBC Mellon has a long history of helping domestic institutional investors and global investors into Canada succeed with on-the-ground expertise and in-depth knowledge of the Canadian market.”
About the World's Best Banks 2023 – Global Honorees
Winners were selected based on performance over the past year and other criteria including reputation and management excellence. Global Finance's editorial board made the selections with input from corporate financial executives, analysts and bankers throughout the world. The editors also used entries submitted by banks, in addition to independent research to evaluate a series of objective and subjective factors.
About Global Finance
Global Finance, founded in 1987, has a circulation of 50,000 and readers in 193 countries and territories. Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Its website — GFMag.com — offers analysis and articles that are the legacy of 36 years of experience in international financial markets. Global Finance is headquartered in New York, with offices around the world. Global Finance regularly selects the top performers among banks and other providers of financial services. These awards have become a trusted standard of excellence for the global financial community.
Media Contact for CIBC Mellon:
Alexandra DeCata, Corporate Communications, 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 June 30, 2023, CIBC Mellon had more than C$2.5 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 June 30, 2023 had US$46.9 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. www.cibcmellon.com