TORONTO, July 25, 2018 /CNW/ - CIBC Mellon has been rated the best sub-custodian in Canada in the 2018 Global Investor/ISF Sub-Custody Survey. CIBC Mellon was the highest rated sub-custodian according to both the unweighted results and the results weighted by client asset size.
"CIBC Mellon has shown again that it is an exceptional custodian in Canada," said Luke Jeffs, Managing Editor, Global Investor Group. "The Global Investor/ISF Sub-Custody Survey polls clients on a range of functions, including recordkeeping, settlement efficiency, exception processing, securities finance and foreign exchange. CIBC Mellon is a worthy winner of this year's category."
"We are pleased to receive recognition for our outstanding client service, dependable execution and local knowledgeable insights," said Shane Kuros, Head of Relationship Development, Canada, CIBC Mellon and BNY Mellon. "As the survey results demonstrate, CIBC Mellon stands as the top Canadian sub-custodian for many of the world's leading custodians, broker-dealers and investors. We appreciate our clients taking the time to reflect their satisfaction in this survey."
About the 2018 Global Investor/ISF Sub-Custody Survey
The annual Global Investor/ISF Sub-Custody Survey includes results that represent the Americas, Asia Pacific, Europe, and the Middle East and Africa. 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 Global Investor 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, exchange-traded fund services, pension services, securities lending services, foreign exchange processing and settlement, and treasury services. As at June 30, 2018, CIBC Mellon had more than C$2 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, 2018 had US$33.6 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 the company on Twitter at @CIBCMellon.
SOURCE CIBC Mellon