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 7, 2022 - 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 "The World's Best Sub-custodian Banks 2022." The award results were announced by Global Finance on June 1, 2022, and will be published in the July/August 2022 issue of Global Finance, shared online at GFMag.com and celebrated during Sibos 2022 in Amsterdam.
"The pandemic accelerated the pace of digitization for sub-custodians and these organizations continue to adapt in order to provide top-notch securities services to their global clients," said Joseph D. Giarraputo, Publisher and Editorial Director of Global Finance. "CIBC Mellon remains an excellent example of outstanding client service and strong risk management with their deep understanding of market conditions. The operations and technology platform provided by BNY Mellon, accompanied by the local capabilities of CIBC, empowers CIBC Mellon to benefit from economies of scale."
"We are honoured to be recognized with this prestigious award from Global Finance," said Richard Anton, Chief Operations Officer, CIBC Mellon. "Amid challenging markets and an evolving operating environment, our teams have emphasized strength and stability, all while delivering innovative technological capabilities for our clients. The commitment of our people to getting it right every day help set our company apart. Clients seeking to participate in Canada's market opportunities continue to rely on CIBC Mellon for our employees' expertise on navigating the ongoing intricacies of the Canadian market."
About the Global Finance "World's Best Sub-custodian Banks 2022" 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 193 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 35 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, 2022, CIBC Mellon had more than C$2.5 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 Mellon network, which as at March 31, 2022, had US$45.5 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 Contacts:
CIBC Mellon: Alexandra DeCata, Corporate Communications, 416-643-6126, alexandra.decata@cibcmellon.com