CIBC Mellon secures the #1 spot for North America in Global Finance's annual ranking of the world's top sub-custody providers.
TORONTO, June 17, 2024 – CIBC Mellon has been named best sub-custodian in North America by Global Finance Magazine. CIBC Mellon was awarded this title as well as recognition as Best Sub-custodian in Canada as part of Global Finance Magazine's ranking of its selections for the 22nd annual “Best Sub-custodian Bank Awards.” The award results were announced by Global Finance on June 6, 2024, and will be featured in Global Finance's July/August print and digital editions, as well as online at GFMag.com.
“The sub-custodian banking sector is dealing with digital transformation and cybersecurity issues while consolidating services to meet regulatory demands and client expectations,” said Joseph Giarraputo, Founder and Editorial Director, Global Finance. “Global Finance’s Best Sub-custodian Bank Awards recognizes organizations that are aiming to improve global coverage and operational efficiency in the industry.”
“We are honoured to be recognized again as North America’s Best Sub-custodian by Global Finance," said Richard Anton, Chief Client Officer, CIBC Mellon. “In today’s fast-paced and ever-evolving financial environment, it is imperative to have comprehensive local market expertise and a deep understanding of our clients’ needs. This accolade underscores the unwavering commitment and exceptional service of CIBC Mellon’s client service teams who continuously demonstrate strength, stability, and a forward-thinking approach. Their dedication to leveraging cutting-edge technology empowers our clients to achieve their growth and innovation goals.”
About the Global Finance "World's Best Sub-custodian Banks 2024" Ranking
Global Finance’s editorial board considered market research, input from expert sources and entries from banks to select the institutions that reliably provide the best services in local markets and regions. The criteria included 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. Global Finance also obtained input from users of sub-custody services. Performance was judged over the period covering January 1, 2023 through December 31, 2023.
About Global Finance
Global Finance, founded in 1987, has a circulation of 50,000 readers in 193 countries, territories and districts. Global Finance's audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Its website — GFMag.com — offers analysis and articles that are the legacy of 36 years of experience in international financial markets. Global Finance is headquartered in New York, with offices around the world. Global Finance regularly selects the top performers among banks and other providers of financial services. These awards have become a trusted standard of excellence for the global financial community.
Media Contact for CIBC Mellon:
Alexandra DeCata, Corporate Communications, CIBC Mellon, 416-643-6126, alexandra.decata@cibcmellon.com
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) 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, exchange-traded fund services, securities lending services, foreign exchange processing and settlement, and treasury services. As at March 29, 2024, CIBC Mellon had more than C$2.8 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 network, which as at March 29, 2024, had US$48.8 trillion in assets under custody and/or administration. CIBC Mellon is a licensed user of the CIBC trade-mark and certain BNY 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.