CIBC Mellon surpasses $1 trillion in assets under administration
TORONTO -- CIBC Mellon has surpassed $1 trillion in assets under administration (AUA), demonstrating the company's leading position in the Canadian asset and investment servicing industry.
"Achieving this milestone clearly illustrates our clients' recognition of the superior service and product solutions they receive by partnering with CIBC Mellon," said Tom Monahan, president and chief executive officer, CIBC Mellon. "While institutions across the globe remained challenged by economic headwinds, we are proud to have experienced marked growth in our AUA and our client base. We look forward to continuing to provide our clients with the best asset and investment servicing experience in Canada."
"Our partnership in Canada with CIBC has long been viewed as a template for how to establish and run a successful joint venture in the investment servicing space," said Tim Keaney, CEO of BNY Mellon Asset Servicing. "That CIBC Mellon's business continues to go from strength to strength is testament to the company's continued focus on service excellence and innovation and its deep understanding of its clients and their needs, and I'd like to congratulate Tom and his team on passing this historic milestone."