CIBC Mellon appointed custodial trustee by General Electric Canada pension funds

CNW Group

Investment servicing solution to support GE pension plans' alternative investment activities

TORONTO , Feb. 19, 2014 /CNW/ - CIBC Mellon today announced that General Electric (GE) Canada has selected CIBC Mellon to provide custody, fund accounting and benefit payment services for GE Canada's trusteed pension funds.  GE will also receive online delivery of investment information through the Workbench platform and integrated access to BNY Mellon Global Risk Solutions investment analysis products.  The CAD$1.3 billion investment servicing mandate comprises three underlying pension plans for GE Canada and their related entities. 

"After an extensive review, we selected CIBC Mellon as our investment servicing provider and custodial trustee based on their tightly integrated reporting, processing and information-delivery platform, and for the considerable strength and experience of their service teams," said Lisa Jankov , assistant treasurer, GE Canada.  "The ability to access global risk and investment information in a single platform will be very valuable as we expand our alternative investment activities while adhering to stringent governance and reporting requirements."

"GE has a 120-year history of innovation in Canada , and we are proud to support GE with the same drive and determination," said Stuart Plummer , executive director, business development, CIBC Mellon.  "Our offerings help position GE with the operational support, risk reporting and transparency to move forward and execute on their investment decisions with confidence." 

Global Risk Solutions available to CIBC Mellon clients via the BNY Mellon global investment servicing network include risk analysis, performance measurement, peer group comparisons and attribution tools and services help clients manage their investment process and risk exposures.  The breadth and depth of the data available in combination with clear and powerful reporting helps clients compare, evaluate and understand investment decisions.

About General Electric Canada 
GE is working for a stronger Canada . We have the best people and technologies taking on the world's toughest challenges, like finding solutions in energy, health and home, transportation and finance. We are not just imagining. We are building, powering, moving and curing the world. 

For more information, visit http://www.ge.com/ca or follow them on Twitter at @GE_Canada

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, unitholder recordkeeping, pension services, securities lending services, foreign exchange settlement and treasury services.  As at December 31, 2013 , CIBC Mellon had more than CAD$1.3 trillion of assets under administration on behalf of 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 global network, which as of December 31, 2013 , had USD$27.6 trillion in assets under custody and/or administration and USD$1.58 trillion in assets under management.  CIBC Mellon is the corporate brand of CIBC Mellon Trust Company and CIBC Mellon Global Securities Services Company and may be used as a generic term to reference either company or both companies collectively.

For more information - including CIBC Mellon's latest knowledge leadership on issues relevant to institutional investors active in Canada - visit www.cibcmellon.com or follow us on Twitter @CIBCMellon.

CIBC Mellon is a licensed user of the CIBC trade-mark and certain BNY Mellon trade-marks.


SOURCE CIBC Mellon

Contact:

CIBC Mellon: Paul Cunliffe, Corporate Communications, paul_cunliffe@cibcmellon.com 416-643-5289
GE Canada: Rahim Ladha, Communications & Public Affairs, rahim.ladha@ge.com, 647-281-7073

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