CIBC Mellon once again secures the #1 spot for Canada in Global Finance's annual ranking of the world's top sub-custody providers
TORONTO, June 21, 2021 CIBC Mellon has again been named best sub-custodian in Canada by Global Finance Magazine. CIBC Mellon was awarded this title as part of Global Finance Magazine's ranking of "The World's Best Sub-custodian Banks 2021." The award results were announced by Global Finance on June 2, 2021 and will be published in the July/August 2021 issue of Global Finance as well as online at GFMag.com. This award follows CIBC Mellon's recognition by Global Finance Magazine in March 2021 as #1 in the World for Treasury Operations Amid the Covid-19 Pandemic.
"Even through the unprecedented events of the past year, CIBC Mellon quickly adapted to the post-pandemic landscape and embraced digitization," said Joseph D. Giarraputo, Publisher and Editorial Director of Global Finance. "CIBC Mellon has remained an excellent example of strong risk management, deep understanding of local conditions and outstanding client service. The operations and technology platform provided by BNY Mellon - one of the world's largest custodians and recipient of best sub-custodian in North America - allows CIBC Mellon to benefit from economies of scale and service not available to its domestic competitors."
"We are honoured to be recognized again with this prestigious award from Global Finance, which highlights the high quality of service we provide to our clients as an effective local sub-custodian to global financial institutions," said Richard Anton, Chief Operations Officer, CIBC Mellon. "Clients seeking to participate in Canada's market opportunities continue to rely on CIBC Mellon for our employees' expertise on navigating the intricacies of the Canadian market, as well as for access to the local capabilities of CIBC, one of Canada's leading banks. Our people, and the commitment of each person to getting it right every day, help set our company apart – the commitment of our team to great client service has perhaps never been more apparent than as we have executed for our clients through the challenges of the past year."
About the Global Finance "World's Best Sub-custodian Banks 2021" Ranking"
Global Finance's editorial board considered market research, input from expert sources, input from users of sub-custody services, and entry information 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.
About Global Finance
Global Finance, founded in 1987, has a circulation of 50,000 and readers in 189 countries. 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 34 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.
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, exchange-traded fund services, securities lending services, foreign exchange processing and settlement, and treasury services. As at March 31, 2021, CIBC Mellon had more than C$2.3 trillion of assets under administration on behalf of banks, pension funds, investment funds, corporations, governments, insurance companies, foreign insurance trusts, fou ndations and global financial institutions whose clients invest in Canada. CIBC Mellon is part of the BNY Mellon network, which as at March 31, 2021, had US$41.7 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.