For the third year in a row, CIBC Mellon was awarded #1 spot as best sub-custodian in the world by Global Finance Magazine.

TORONTO, July 25, 2024 /CNW/ - CIBC Mellon has been named "World's Best Sub-custodian" by Global Finance Magazine. CIBC Mellon was awarded this title for the third year in a row as part of Global Finance Magazine's ranking of "The World's Best Banks 2024 – Global Honorees." Global Finance will celebrate this year's honourees on October 26, 2024 at the annual World's Best Bank Awards Ceremony at the National Press Club in Washington, DC.  Winners will also be featured in Global Finance's October print and digital editions, as well as online at GFMag.com.

"CIBC Mellon continues to lead the Sub-custody sector with its outstanding post-trade capabilities, deep resources and advanced technology. Leveraging the platforms and services of its parent companies, it delivers a broad number of offerings that scale with client demands," said Joseph Giarraputo, Founder and Editorial Director of Global Finance. "For over thirty years, corporate and banking leaders have turned to Global Finance's Best Bank Awards to identify financial partners who not only excel in their offerings but also adapt and innovate in an ever-evolving market."

"Canada continues to be a vibrant and resilient market, and this accolade underscores our role in supporting the country's financial ecosystem. Our commitment to excellence in asset servicing has always been our driving force, and this recognition highlights our efforts in fostering trust and stability in the Canadian financial sector," said Mal Cullen, Chief Executive Officer, CIBC Mellon. We will continue to innovate and invest in our people and technology to stay ahead in this ever-evolving industry, ensuring that we not only meet but exceed the expectations of our clients and the market at large."

"Receiving the title of best Sub-custodian in the world is a remarkable achievement that highlights our unwavering commitment to our clients," said Richard Anton, Chief Client Officer, CIBC Mellon. "At CIBC Mellon, we prioritize understanding and addressing the unique needs of each client, ensuring we provide tailored solutions that drive their success. This recognition by Global Finance Magazine is not only a reflection of our team's expertise and dedication but also a reminder of the trust and partnership we have built with our clients. We are grateful for this honour and remain dedicated to delivering top-tier service and support to our valued clients around the globe."

About the World's Best Banks 2024 – Global Honorees

Winners were selected based on performance over the past year and other criteria including reputation and management excellence. Global Finance's editorial board made the selections with input from corporate financial executives, analysts and bankers throughout the world. The editors also used entries submitted by banks for Global Finance's 2024 awards programs, in addition to independent research, to evaluate a series of objective and subjective factors.

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 37 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

As at June 30, 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 Mellon network, which as at June 30, 2024 had US$49.5 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 Contact

Alexandra DeCata, Corporate Communications, 416-643- 6126, alexandra.decata@cibcmellon.com

"CIBC Mellon continues to lead the Sub-custody sector with its outstanding post-trade capabilities, deep resources and advanced technology. Leveraging the platforms and services of its parent companies, it delivers a broad number of offerings that scale with client demands,"

SOURCE CIBC Mellon