CIBC Mellon Selected to Provide Asset Servicing for the University of Saskatchewan Endowment Français
CIBC Mellon, a leading asset servicing provider in Canada, has been chosen by USask as its primary provider of custody and administrative services to its endowment fund, further expanding on the company's existing relationship with the university.
TORONTO and SASKATOON, SK, Nov. 27, 2023 /CNW/ - Today, CIBC Mellon announced that it has been chosen to provide asset servicing solutions to the University of Saskatchewan's (USask) endowment fund - including custody, institutional accounting, foreign exchange processing and settlement services, and digital solutions including automated tools. These capabilities unlock immediate efficiencies for USask, including cash administration, and investment information data access and delivery via the NEXEN® investment data platform. Transition oversight was provided by Aon Consulting.
This announcement builds on CIBC Mellon's existing asset servicing relationship with USask.
CIBC Mellon's extensive experience in the higher education sector spans a quarter century, establishing the provider as the premier choice for Canada's leading post-secondary institutions.
"With CIBC Mellon as a trusted partner, we can confidently and securely look to the future where our growing endowments will support USask's students and its discovery mission," said Greg Fowler, USask's vice-president, administration, and chief operating officer. "We are confident that CIBC Mellon's long-standing reputation in the sector and their unwavering dedication to supporting educational institutions aligns seamlessly with our mission."
"We are honoured to be chosen by the University of Saskatchewan to service their endowment fund," said Darlene Claes-McKinnon, Vice President, Relationship Management and Segment Lead, Asset Owners. "Our team is committed to providing USask with innovative solutions, supporting USask as they align their financial strategies with their long-term goals."
"At CIBC Mellon, we are dedicated to constructing the framework for future growth. Canada's colleges, universities, and high education sector form the bedrock of Canada's future talent pool. We take immense pride in fortifying their foundations," said Ash Tahbazian, Chief Client Officer, CIBC Mellon. "USask stands as a pivotal cornerstone in this endeavour, playing an essential role in shaping our educational landscape and we are proud to service their endowment fund and expand on our broader commitment to serve Canada's asset owners."
The University of Saskatchewan (USask), located in the vibrant city of Saskatoon on Treaty 6 territory and the traditional homeland of the Métis, is leading the way in tackling pressing problems like water and food security. Research, teaching and learning at USask is enhanced by our array of world-class centres and facilities.
A range of excellent programs, from business, law, and public policy to engineering, medicine and veterinary medicine, positions us to cross traditional discipline boundaries and work together to bring a unique perspective to key global challenges. Our strong community and well-recognized experts will continue to drive USask to be the university the world needs.
With more than 26,000 students from around the globe, including nearly 3,300 self-declared Indigenous students and more than 3,400 international students, our strong community and well-recognized experts will continue to drive USask to be the university the world needs.
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, recordkeeping, pension services, exchange-traded fund services, securities lending services, foreign exchange processing and settlement, and treasury services. 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. www.cibcmellon.com
Alexandra DeCata, Corporate Communications, CIBC Mellon, 416-643-6126
[email protected]
Daniel Hallen, Media Relations, University of Saskatchewan, 306-966-6922
[email protected]
SOURCE CIBC Mellon
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