TORONTO, March 21, 2016 /CNW/ - CIBC Mellon has been rated the best sub-custodian in Canada in the 2016 Global Investor/ISF sub-custody survey, ranking first in Canada. CIBC Mellon was the highest rated custodian according to both the unweighted results and the results weighted by client asset size.
"In Canada, CIBC Mellon was the most highly rated custodian," said Alastair O'Dell, editor of Global Investor/ISF. "CIBC Mellon excelled in the core category of product development and innovation and had outstanding scores in securities lending fail coverage and tax reclaim services."
"We are delighted to receive recognition for our strong asset servicing solutions, local market insights and outstanding client service experience" said Shane Kuros, Vice President, Business Development and Relationship Management, CIBC Mellon. "CIBC Mellon remains the Canadian agent of choice for many of the world's leading custodians, broker-dealers and investors, and we sincerely thank our clients for taking the time to express their satisfaction in this survey."
About the Global Investor/ISF sub-custody survey
The annual Global Investor/ISF sub-custody survey includes results that represent Europe, the Americas, Asia Pacific, and Africa and the Middle East. For each country there are two tables: weighted, which is weighted by assets under custody; and unweighted, whereby all valid responses for each sub-custodian in a particular country are averaged to calculate the score. Respondents are asked to rate their sub-custodians across 12 main service categories. The full results of the survey were published in the February/March 2016 edition of Global Investor/ISF magazine.
About Global Investor/ISF
Global Investor/ISF connects the worlds of asset management, asset servicing and securities finance. It was launched in 1985 and is a flagship title of Euromoney Institutional Investor plc. Global Investor/ISF's magazine, website and events cover asset management, asset servicing and securities finance.
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, securities lending services, foreign exchange settlement and treasury services. As at December 31, 2015, CIBC Mellon had more than C$1.6 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, 2015 had US$28.9 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.
SOURCE CIBC Mellon