TORONTO, Sept. 30, 2013 /CNW/ - CIBC Mellon has been named the best sub-custodian in Canada by Global Finance magazine for the seventh consecutive year in its annual ranking of the "World's Best Sub-Custodian Banks". The results were released in Global Finance Magazine's July/August 2013 edition and formally presented at an awards ceremony held during the SIBOS conference in Dubai in September 2013.
"We are pleased to recognize CIBC Mellon as Canada's top sub-custodian for 2013," said Joseph Giarraputo, publisher and editorial director of Global Finance. "The company continues to distinguish itself across a number of fronts, including technology, service quality and attentiveness to the specific needs of institutional investors into Canada."
"We are extremely pleased to see our efforts to provide clients with outstanding service, solutions and insights into the Canadian market environment recognized once more by Global Finance magazine," said Alistair Almeida, vice president, business development and relationship management, global financial institutions, CIBC Mellon. "We remain committed to continuous improvement, and look forward to supporting global clients as they tap into Canada's unique markets in the year ahead."
The prestigious award from Global Finance cements a strong showing by CIBC Mellon across industry awards in 2013. Earlier this year, CIBC Mellon was recognized as Custodian of the Year by Custody Risk magazine and as the best sub-custodian in Canada by Global Investor/ISF magazine.
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. Editors, reporters, and industry experts come together annually to evaluate the capabilities and level of expertise at each provider and then select a country best for each nation. The evaluation is based on a number of factors, including 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: http://www.gfmag.com/tools/best-banks/12487-worlds-best-subcustodian-banks-2013.html
About CIBC Mellon
CIBC Mellon provides asset servicing solutions, including custody, multicurrency accounting, fund administration, unitholder recordkeeping, pension services and securities lending services, for institutions and corporations. We have over 1,000 people dedicated to supporting more than 1,200 client relationships with Canadian banks, pension funds, investment funds, corporations, governments, insurance companies, foreign insurance trusts, foundations and global financial institutions whose clients invest in Canada. As at June 30, 2013, CIBC Mellon held more than CAD$1.2 trillion of assets under administration on behalf of our clients. CIBC Mellon is headquartered in Toronto, with offices across Canada in Vancouver, Calgary, London, Montreal and Halifax. Founded in 1996, CIBC Mellon is 50-50 jointly owned by Canadian Imperial Bank of Commerce (CIBC) and The Bank of New York Mellon Corporation (BNY Mellon), the world's largest custodian. CIBC Mellon is part of the BNY Mellon network, which as at June 30, 2013 had USD$26.2 trillion in assets under custody and administration and USD$1.43 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.
CIBC Mellon is a licensed user of the CIBC trade-mark and certain BNY Mellon trade-marks.
SOURCE CIBC Mellon