TORONTO, Aug. 18, 2022 /CNW/ - Today, CIBC Mellon announced that it has been selected to provide asset servicing solutions to StonePine Asset Management Inc. (StonePine), including fund accounting and administration, global custody, unitholder recordkeeping, and investment information data access and reporting via the NEXEN® investment data platform.
"We are pleased to tap into CIBC Mellon's global network, buoyed by the strength and success of their global enterprise. In addition, their technology, agile implementation timeframes, and the support provided by their reputable client service teams really positioned them as a market leader and an organization to which we are proud to entrust our fund operations," said Nadim Rizk, CEO and CIO, StonePine Asset Management Inc. "We look forward to working with CIBC Mellon in both the short and long term as we continue to create value for our clients and their beneficiaries over many years."
"As asset managers like StonePine pursue sophisticated investment and organizational strategies, they are turning to advanced technology to streamline operations, supporting them as they access new market opportunities and gain competitive advantage," said Ash Tahbazian, Chief Client Officer, CIBC Mellon. "Our engaged team looks forward to empowering StonePine to help them increase capacity, gain efficiency and achieve their vision to be an exemplar for fundamental research, portfolio construction, and long-term quality growth investing."
About StonePine Asset Management Inc.
Based in Montreal, StonePine Asset Management Inc. is a specialist global equity manager founded in 2021 following a separation from a large independent asset manager. StonePine is 100% employee-owned and focused exclusively on helping clients achieve their financial goals by investing in what we believe to be the highest quality companies worldwide. StonePine currently has approximately $60 billion in assets under management and is led by Nadim Rizk, a seasoned portfolio manager with over 25 years of experience.
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, recordkeeping, pension services, exchange-traded fund services, securities lending services, foreign exchange processing and settlement, and treasury services. As at June 30, 2022, CIBC Mellon had more than C$2.3 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 June 30, 2022, had US$43 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.
For more information, including CIBC Mellon's latest knowledge leadership on issues relevant to institutional investors active in Canada, visit www.cibcmellon.com.
Media Contacts:
Thomas Clancy, Head of Client Relations, 978-529-3906, [email protected]
Alexandra DeCata, Corporate Communications, 416-643-6126, [email protected]
SOURCE CIBC Mellon
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