Advances Mackenzie Investments' ongoing digital transformation with a leading-edge technology middle-office solution from BNY Mellon
TORONTO, Nov. 29, 2023 /CNW/ - CIBC Mellon today announced that it has entered into an agreement to provide Mackenzie Investments (Mackenzie), part of the IGM Financial Inc. (IGM) family of companies, with enhanced asset management capabilities through OnCore, a modern, innovative, and global middle office solution administered by BNY Mellon.
The deal advances Mackenzie's ongoing digital transformation with a leading-edge technology solution that will provide a range of middle office functions for Mackenzie's global investment management team. OnCore will provide Mackenzie's investment professionals with a truly global middle office platform, with increased scalability and functionality to the benefit of Mackenzie's retail and institutional clients. The platform will be integrated with Mackenzie's existing business applications and will have the capacity to enable enterprise growth.
"We're delighted to be working with CIBC Mellon to enhance our investment management operations, enabling us to continue to deliver strong outcomes for our clients," said Luke Gould, President and CEO, Mackenzie Investments. "By adopting BNY Mellon's OnCore platform and data management solutions, our investment professionals will be supported with even greater access to the information, tools and flexibility they use to optimize their investment decisions."
As part of the continued relationship between Mackenzie and CIBC Mellon, Mackenzie will also gain access to BNY Mellon's Eagle Data Management platform, Data Vault and Data Managed Services, providing access to world-class data and analytical reporting.
"The introduction of BNY Mellon's Middle Office OnCore platform is set to empower IGM Financial with powerful new capabilities in handling diverse and complex asset classes," added Mark McKeon, Global Head of Middle Office Solutions, BNY Mellon. "This strategic alignment supports IGM's commitment to improving the financial well-being of Canadians, and we look forward to delivering these solutions."
"As we celebrate another important milestone in our journey to help Mackenzie Investments and IGM Financial continue to transform their operations and technology, I look forward to the strategic benefits and innovative opportunities made possible by this expanded collaboration," said Mal Cullen, Chief Executive Officer, CIBC Mellon. "Our shared commitment to excellence, client-centricity, and technological advancement positions Mackenzie for continued success in the ever-evolving financial landscape."
About CIBC Mellon
As at September 30, 2023, CIBC Mellon had more than C$2.4 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 September 30, 2023 had US$45.7 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. https://www.cibcmellon.com/en/home.jsp
About Mackenzie Investments
Mackenzie Investments is a leading investment management firm with $183.3 billion in assets under management as of October 31, 2023. Mackenzie provides investment solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, Mackenzie is a global asset manager with offices across Canada as well as in Boston, Dublin, London, Hong Kong and Beijing. Mackenzie is a member of IGM Financial Inc. (TSX: IGM), one of Canada's premier financial services companies with approximately $250 billion in total assets under management and advisement as of October 31, 2023. For more information, visit mackenzieinvestments.com.
BNY Mellon
Established in 1784, BNY Mellon is America's oldest bank and the first company listed on the New York Stock Exchange (NYSE: BK). Today, BNY Mellon powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY Mellon had $45.7 trillion in assets under custody and/or administration and $1.8 trillion in assets under management as of Sept. 30, 2023. BNY Mellon has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available on www.bnymellon.com. Follow us on LinkedIn or visit our Newsroom for the latest company news.
Media Contact:
Alexandra DeCata
CIBC Mellon
416-643-6126
[email protected]
Ryan Wells
BNY Mellon
+1 212 298 1249
[email protected]
SOURCE CIBC Mellon
Media Contact: Alexandra DeCata, CIBC Mellon, 416-643-6126, [email protected]; Ryan Wells, BNY Mellon, +1 212 298 1249, [email protected]
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