CIBC Mellon once again secures the #1 spot for Canada, also named best in North America in Global Finance's annual ranking of the world's top sub-custody providers
TORONTO, June 17, 2020 - CIBC Mellon has been named best sub-custodian in Canada and best sub-custodian in North America by Global Finance Magazine. CIBC Mellon was awarded these titles as part of Global Finance Magazine's ranking of "The World's Best Sub-custodian Banks 2020." The award results were announced by Global Finance on June 9, 2020 and will be published in the July/August 2020 issue of Global Finance as well as online at GFMag.com.
"CIBC Mellon is an example of strong risk management, deep understanding of local conditions and outstanding client service," said Joseph D. Giarraputo, Publisher and Editorial Director of Global Finance. "The operations and technology platform provided by BNY Mellon - one of the world's largest custodians - allows CIBC Mellon to benefit from economies of scale and service not available to its domestic competitors."
"We are honoured to be recognized with these prestigious awards from Global Finance, which highlight 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. It is our people, and the commitment of each person to getting it right every day, that helps set the company apart."
About the Global Finance "World's Best Sub-custodian Banks 2020" 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 50,050 and readers in 180 countries. Its circulation is audited by BPA. Global Finance's audience includes chairmen, presidents, CEOs, CFOs, treasurers and other senior financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Global Finance's website — GFMag.com — offers analysis and articles that are the legacy of 33 years of experience in international financial markets, and provides a valuable source of data on 192 countries. Global Finance is headquartered in New York, with offices in London and Milan. 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 dedicated to helping Canadian institutional investors and international institutional investors into Canada service their financial assets throughout the investment lifecycle. 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 delivers informed investment services for investment funds, pension plans, insurance companies, banks, foundations, endowments, corporations, and global financial institutions whose clients invest in Canada. As at March 31, 2020, CIBC Mellon had more than C$1.8 trillion in assets under custody and/or administration. CIBC Mellon is part of the BNY Mellon network, which as at March 31, 2020 had US$35.2 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.
Media Contact:
Jennifer Israel, Corporate Communications, CIBC Mellon, 647-823-8417, jennifer.israel@cibcmellon.com