TORONTO, May 14, 2014 /CNW/ - For the eighth consecutive year, CIBC Mellon has been named the best sub-custodian in Canada in Global Finance magazine's annual ranking of the "World's Best Sub-Custodian Banks". The full award results will be published in the July/August edition of Global Finance, and winners will be honoured at the Transaction Processing Awards ceremony held during the SIBOS conference in Boston on October 1, 2014.
"As custodians and institutional investors deal with an increasingly complex global regulatory environment, they are seeking the safest and best local market sub-custodians with whom to entrust assets," said Joseph Giarraputo, publisher and editorial director of Global Finance. "With these awards we evaluate the providers that do the best job of asset servicing and protection in highly complex global markets. Based on a detailed review, we are pleased to again recognize CIBC Mellon as the best sub-custodian in Canada."
"We are very proud to once more earn this prestigious award from Global Finance magazine," said Alistair Almeida, vice president and relationship executive manager, global financial institutions, CIBC Mellon. "Canada remains highly attractive to global investors, thanks to our stable financial sector, effective regulatory environment and strong government credit ratings. The team at CIBC Mellon has continued to deliver great service and local insights as we've helped international investors navigate Canada's business and regulatory environment."
The prestigious award from Global Finance reinforces CIBC Mellon's continued strength in the Canadian marketplace. Earlier this year, CIBC Mellon was recognized as Canada's Custodian of the Year by Custody Risk magazine and as the best single major market custodian in the Americas by Global Custodian magazine. CIBC Mellon was also named one of the Achievers 50 Most Engaged Workplaces™ in Canada for 2014.
About the Global Finance "World's Best Sub-Custodians" ranking
Each year, Global Finance magazine publishes an assessment of sub-custody products and services of asset servicing providers in countries around the world. Global Finance editors and reporters, with input from expert sources, selected the winners from the institutions that reliably provide the best services in local markets and regions to global custodians. Assessment criteria included customer relations, quality of service, competitive pricing, smooth handling of exception items, technology platforms, post-settlement operations, business continuity plans and knowledge of local regulations and practices. To learn more, refer to the Global Finance website at www.gfmag.com
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, unitholder recordkeeping, pension services, securities lending services, foreign exchange settlement and treasury services. As at March 31, 2014, CIBC Mellon had more than CAD$1.3 trillion of assets under administration on behalf of 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 March 31, 2014 had USD$27.9 trillion in assets under custody and administration and USD$1.6 trillion in assets under management. CIBC Mellon is the corporate brand of CIBC Mellon Trust Company and CIBC Mellon Global Securities Services Company and may be used as a generic term to reference either company or both companies collectively.
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.
SOURCE CIBC Mellon