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 /CNW/ - 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.
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 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:
Alexandra DeCata, Corporate Communications,
416-643-6126, alexandra.decata@cibcmellon.com
SOURCE CIBC Mellon