CIBC Mellon
 |
|
| Joint Venture | |
| Industry | Financial Services |
| Founded | Toronto, Ontario, Canada (1996) |
| Headquarters | Toronto, Ontario, Canada |
|
Number of locations
|
6 Offices (2009) |
|
Area served
|
Canada |
|
Key people
|
Thomas S. Monahan, President and CEO Samir Pandiri, Chairman |
| Services | Asset Servicing |
| Owner | 50% CIBC; 50% BNY Mellon |
|
Number of employees
|
1,300 |
| Divisions | CIBC Mellon Trust Company (CMTC) and CIBC Mellon Global Securities Services Company (CMGSS) |
| Website | CIBCMellon.com |
|
Footnotes / references Note that CMTC and CMGSS are in fact Sister companies to each other, but operate seamlessly |
|
CIBC Mellon was founded in 1996 as a joint venture between the Canadian Imperial Bank of Commerce (hereafter CIBC) and the Mellon Financial Corporation (now The Bank of New York Mellon) (hereafter Mellon) to offer asset servicing to institutional investors. While commonly known as CIBC Mellon, the company comprises two sister companies, CIBC Mellon Trust Company and CIBC Mellon Global Securities Services Company (Compagnie Trust CIBC Mellon and Société de services de titres mondiaux CIBC Mellon in French respectively). Based in Toronto, Ontario CIBC Mellon offers asset servicing to corporate and institutional clients.
On 16 February 2010, the Wall Street Journal reported that BNY Trust Co. of Canada would be acquiring the corporate trust assets of CIBC Mellon.
On 28 July 2010 it was reported that Pacific Equity Partners would acquire CIBC Mellon Trust Company's issuer services business (stock transfer and employee share purchase plan).
CIBC Mellon's head office is in Toronto at 320 Bay Street in the historic Canada Permanent Trust Building. CIBC Mellon holds the lease from the Ground to 12th Floor, and in 2002 restored the Banking Hall (which had been used by Canada Trust) for their use.
There are satellite offices in Canada:
CIBC Mellon was founded in 1996 after CIBC joined with Mellon Financial Corporation in a 50-50 joint venture named CIBC Mellon Global Securities Services (CMGSS). The following year, 1997, CIBC purchased a 50% stake in The R-M Trust Company from Mellon, which would become CMGSS's sister company, CIBC Mellon Trust Company (CMTC). CIBC Mellon acquired the Pension and Institutional Trust businesses from Canada Trust in 1997 and the global custody business from the Bank of Montreal in 1999. In 2002 CIBC Mellon acquired, from TD Financial Group, their third party investment fund custody business.
...
Wikipedia