About CIBC Mellon

History

CIBC Mellon is built on the strengths and traditions of our two parent companies – CIBC and BNY. The companies’ combined expertise provides a unique advantage, delivering intelligent solutions that are global in scale, and providing superior value.

Based on this rich heritage, CIBC Mellon consistently delivers outstanding asset servicing to corporate and institutional clients.

Some key dates from our shared history

1784: Alexander Hamilton founds The Bank of New York. The bank has played a prominent role in the evolution of financial markets worldwide.

1792: The Bank of New York is the first company listed on the New York Stock Exchange.

1867: The Honourable William McMaster leads the foundation and establishment of The Canadian Bank of Commerce and becomes its first president.

1869: Mellon Bank (Mellon) is established by Thomas Mellon, a prominent Pittsburgh lawyer and jurist.

1875: The Imperial Bank of Canada is established. Henry Stark Howland, previously vice-president of The Canadian Bank of Commerce, was the principal founder and first president.

1961: The Canadian Bank of Commerce and the Imperial Bank of Canada merge to form the Canadian Imperial Bank of Commerce (CIBC). The transaction remains the largest merger of two chartered banks in Canadian history.

1991: The R-M Trust Company (R-M Trust) is formed by Mellon and others in Canada and begins providing transfer agency (stock transfer), corporate trust (debt trustee) and other trust services to corporate clients.

1996: CIBC joins forces with Mellon to form a 50 - 50 jointly-owned company named CIBC Mellon Global Securities Services Company which begins to offer asset servicing solutions to institutional investors.

1997: CIBC purchases a 50 per cent interest in R-M Trust, which becomes CIBC Mellon Trust Company, a sister company to CIBC Mellon Global Securities Services Company. The two companies work together to provide pension trust fund, custody and other asset servicing solutions under the CIBC Mellon brand.

1997: CIBC Mellon acquires the pension and custodial business of Canada Trust.

1999: CIBC Mellon acquires the Bank of Montreal's global custody business.

2007: Mellon merges with The Bank of New York to form BNY Mellon, a global financial services company with tremendous size, scale and scope.

2009: CIBC Mellon launches its "Together in Action" employee volunteering program. 50 employees take advantage of paid time off for volunteering in the program's first year.

2009: CIBC Mellon launches its unitholder recordkeeping business with the acquisition of Felcom Data Services. Many of the lifted out team remain with CIBC Mellon to this day.

2010: CIBC Mellon sells its issuer services business to Canadian Stock Transfer Company Inc. and its corporate trust business merges into BNY Trust Company of Canada. This positions CIBC Mellon to strategically focus on its main line of business – asset servicing.

2011: CIBC Mellon announces that it has surpassed C$1 trillion in assets under administration.

2013: BNY Mellon and CIBC Mellon merge securities lending operations. The integration establishes BNY Mellon’s Securities Finance business as one of the largest providers of securities lending services in the world, with trading offices in New York, Pittsburgh, Toronto, London and Hong Kong. The program remains the world’s largest to this day.

2014: CIBC Mellon completes a transformational fund administration lift-out for a Canadian asset manager, welcoming more than 80 new employees.

2015: CIBC Mellon transitions its recordkeeping to LTI’s Unitrax platform.

2015: CIBC Mellon earns the Canadian HR Award for "Best Reward and Recognition Strategy." Two thirds of CIBC Mellon employees participate in the company's "Together in Action" volunteering program, taking advantage of paid time off to make a positive difference in their communities.

2016: CIBC Mellon expands its operational presence by opening a new office in Mississauga. Global Finance names CIBC Mellon "Canada's best sub-custodian" for the 10th consecutive year.

2018: CIBC Mellon launches a Digital Case and Content Management Workflow tool to enable efficient collaboration among employees and clients.

2019: CIBC Mellon assumes the fund services business of IGM Financial, welcoming 100 employees and opening a new office in Winnipeg. 75% of CIBC Mellon employees participate in at least one volunteering event.

2020: CIBC Mellon selected by iA Financial for its strategic fund operations modernization program, marking the extension of CIBC Mellon’s operational outsourcing solutions into the Canadian insurance segment. CIBC Mellon is once again named #1 in Canada, according to Global Custodian Magazine's Agent Banks in Major Markets Survey.

2021: CIBC Mellon Named #1 Globally for Outstanding Achievement in Treasury Operations During the COVID Pandemic by Global Finance Magazine.

2021: CIBC Mellon and its parent companies BNY Mellon and CIBC celebrate the 25th anniversary of the joint venture.

2022: Once again, CIBC Mellon earns top spot for Canada, According to Global Custodian Magazine's 2022 Agent Banks in Major Markets Survey. CIBC Mellon wins Client Service for Custody Award at Asset Servicing Times Industry Excellence Awards 2022. CIBC Mellon also named World's Best Sub-Custodian by Global Finance Magazine 2022. Mal Cullen becomes CIBC Mellon's Chief Executive Officer. 

2024: CIBC Mellon amalgamates CIBC Mellon Global Securities Services Company Inc. (GSS) and CIBC Mellon Trust Company (CMT) into a single entity, CIBC Mellon Trust Company. Consolidating business functions and operating as one company enhances operational efficiency and simplifies CIBC Mellon's organizational structure.

Today, The CIBC Mellon team remains committed putting clients at the centre, getting it right every day, acting as one family and taking ownership.