CIBC Mellon selected to provide asset servicing for University of Prince Edward Island Pension Plan and Endowment Funds

CHARLOTTETOWN AND HALIFAX, Aug. 7, 2013 /CNW/ - CIBC Mellon has been selected to provide asset servicing for the Pension Plan for Employees of the University of Prince Edward Island (UPEI) and the UPEI Endowment Funds.  CIBC Mellon's asset servicing solution for UPEI's pension plan and endowments includes custody, fund accounting and pension benefit payments and reporting.  UPEI will also receive online investment information delivery via CIBC Mellon's Workbench platform and access to markets around the world through the BNY Mellon global network.

"After a rigorous review, we concluded that CIBC Mellon's asset servicing offering was the best choice for UPEI," said Jackie Podger, vice president, administration and finance, University of Prince Edward Island, "CIBC Mellon certainly deserves its strong reputation among Canadian colleges and universities: the company has great people, a great local service model and a true commitment to delivering outstanding solutions."

"We are very proud to have earned the trust of the University of Prince Edward Island, and very much look forward to exceeding their expectations," said Jeff Alexander, director, business development and relationship management, CIBC Mellon.  "This mandate further extends CIBC Mellon's leadership as a provider of asset servicing solutions to institutions and corporations in Atlantic Canada, and underscores our strength as a service provider to Canada's highly-regarded educational institutions."

About the University of Prince Edward Island

The University of Prince Edward Island (UPEI) has a rich history with roots in two founding institutions: Prince of Wales College (est. 1834) and St. Dunstan's University (est. 1855).  UPEI honours this proud legacy through a growing reputation for research innovation and academic excellence.  UPEI's four faculties (arts, education, science, and veterinary medicine) and two schools (business and nursing) offer a wide range of programs and degrees to over 4,400 undergraduate, graduate and doctoral students.  Home to seven Canada Research Chairs, a Canada Excellence Research Chair in Aquatic Epidemiology, eight endowed or sponsored research chairs, and five 3M Teaching Award-winners, UPEI offers its students access to over 1,100 exceptional faculty and research staff. UPEI students come from all walks of life and from local, regional, national and international locations. In 2012, international students from over 60 countries comprised more than 12 per cent of the University's total enrolment.

About CIBC Mellon

CIBC Mellon provides asset servicing solutions, including custody, multicurrency accounting, fund administration, unitholder recordkeeping, pension services and securities lending services, for institutions and corporations.  We have over 1,000 people dedicated to supporting more than 1,200 client relationships with Canadian banks, pension funds, investment funds, corporations, governments, insurance companies, foreign insurance trusts, foundations and global financial institutions whose clients invest in Canada.  As at June 30, 2013, CIBC Mellon held more than CAD$1.2 trillion of assets under administration on behalf of our clients.  CIBC Mellon is headquartered in Toronto, with offices across Canada in Vancouver, Calgary, London, Montreal and Halifax.  Founded in 1996, CIBC Mellon is 50-50 jointly owned by Canadian Imperial Bank of Commerce (CIBC) and The Bank of New York Mellon Corporation (BNY Mellon), the world's largest custodian.  CIBC Mellon is part of the BNY Mellon network, which as at June 30, 2013 had USD$26.2 trillion in assets under custody and administration and USD$1.43 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

Brent Merriman, corporate communications, CIBC Mellon, [email protected], 416-643-5065
Sheila Kerry, media relations and communications officer, University of Prince Edward Island, [email protected], 902-566-0760