Rating caps CIBC Mellon's strong performance across independent industry surveys and awards in 2013
TORONTO, Oct. 7, 2013 /CNW/ - CIBC Mellon has been awarded "top-rated" status by leading and cross-border/non-affiliated clients in Global Custodian's 2013 Agent Banks in Major Markets survey. CIBC Mellon is the only Canadian custodian to earn "top-rated" status in both categories in the 2013 survey.
Global Custodian's report on Canada's custody market is based on client survey responses, and notes that "CIBC Mellon has witnessed an increase in the value of sub-custody assets under management due to the combined effect of market increases and new business. This year, it is out front among leading clients, beating the market average across virtually all service areas."
"Sub-custodial clients look to their local market providers to deliver relevant insights, timely updates, strong service and outstanding execution," said Alistair Almeida, vice president, business development and relationship management, global financial institutions, CIBC Mellon. "We are very pleased to receive strong and positive feedback from our clients in this survey, and remain as always committed to continuous improvement."
The prestigious result in Global Custodian's annual ranking of sub-custodians around the world continues CIBC Mellon's strong performance across industry awards in 2013. Earlier this year, CIBC Mellon was named Canada's top sub-custodian by Global Finance for the seventh consecutive year, recognized as Custodian of the Year by Custody Risk magazine, and named best sub-custodian in Canada by Global Investor/ISF magazine.
Watch a video on the state of Canadian subcustody and the steps CIBC Mellon is taking to serve subcustody clients, featuring David Linds, senior vice president, business development and relationship management, CIBC Mellon and Alistair Almeida, vice president, business development and relationship management, global financial institutions, CIBC Mellon.
About Global Custodian's Agent Banks in Major Markets survey
Now in its 24th year, the Agent Banks in Major Markets survey, conducted by Global Custodian Magazine, is a rating by market participants of the clearing and settlement services provided by agent banks across the globe. In addition to awarding top-rated or commended status to participants, the survey provides benchmark scores in 13 service areas. Visit www.globalcustodian.com to learn more.
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 delivering excellent client service to 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 September 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.
SOURCE CIBC Mellon
Video with caption: " Video: The state of Canadian subcustody and the steps CIBC Mellon is taking to serve subcustody clients, featuring David Linds, senior vice president, business development and relationship management, CIBC Mellon.". Video available at: http://stream1.newswire.ca/cgi-bin/playback.cgi?file=20131007_C7857_VIDEO_EN_31773.mp4&posterurl=http://photos.newswire.ca/images/20131007_C7857_PHOTO_EN_31773.jpg&clientName=CIBC%20Mellon&caption=%20Video%3A%20The%20state%20of%20Canadian%20subcustody%20and%20the%20steps%20CIBC%20Mellon%20is%20taking%20to%20serve%20subcustody%20clients%2C%20featuring%20David%20Linds%2C%20senior%20vice%20president%2C%20business%20development%20and%20relationship%20management%2C%20CIBC%20Mellon%2E&title=CIBC%20MELLON%20%2D&headline=CIBC%20Mellon%20%26quot%3Btop%20rated%26quot%3B%20in%20Canada%2C%20according%20to%20Global%20Custodian%20magazine%27s%202013%20Agent%20Banks%20in%20Major%20Markets%20survey