AGF adds fund accounting, custody, fund administration and recordkeeping for Highstreet Asset Management to its existing CIBC Mellon asset servicing mandate
TORONTO, July 14, 2020 /CNW/ - CIBC Mellon today announced that AGF Management Limited (AGF) has selected CIBC Mellon to deliver fund accounting, custody, fund administration and recordkeeping for AGF's private client subsidiary Highstreet Asset Management (Highstreet). The mandate also includes performance valuation and reconciliation accounting services for AGF's institutional business and the transition of a team of AGF fund administration professionals to CIBC Mellon.
This mandate is in addition to AGF's existing business for which CIBC Mellon delivers custody, fund accounting and fund administration, securities lending, foreign exchange processing and settlement, and ETF services for AGF's suite of Canadian funds. Highstreet is an investment management firm based in London, Ontario that provides discretionary money management services to individual investors and their families, foundations, pension plans, and institutional investors, and it is wholly owned by AGF. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses and has nearly $36 billion in total assets under management (as at June 30, 2020).
"The selection of CIBC Mellon is a natural extension to our existing relationship, allowing for continued operational synergies across AGF's business," said Chris Jackson, Chief Operating Officer, AGF. "As part of the AGF family, Highstreet will also benefit from CIBC Mellon's tailored approach, corporate governance model, robust operational capabilities, and commitment to its people."
"Our firms are well aligned, from our governance models to recognizing that great people set our companies apart, and we are proud to continue to support AGF, and the new Highstreet mandate by extension," said Ash Tahbazian, Chief Client Officer, CIBC Mellon. "We are pleased to welcome the talented professionals from AGF to our engaged team, and to support AGF as it further streamlines its overall operational model."
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF's suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.
AGF has investment operations and client servicing teams on the ground in North America, Europe and Asia. With nearly $36 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B. www.agf.com
About CIBC Mellon
CIBC Mellon is dedicated to helping Canadian institutional investors and international institutional investors into Canada service their financial assets throughout the investment lifecycle. 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 delivers informed investment services for investment funds, pension plans, insurance companies, banks, foundations, endowments, corporations, and global financial institutions whose clients invest in Canada. As at June 30, 2020, CIBC Mellon had more than C$2 trillion in assets under custody and/or administration. CIBC Mellon is part of the BNY Mellon network, which as at March 31, 2020 had US$35.2 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:
CIBC Mellon: Jennifer Israel, Corporate Communications, 416-643-6538, [email protected]
AGF: Amanda Marchment, Director, Corporate Communications, 416-865-4160, [email protected]
SOURCE CIBC Mellon
Media Contacts: CIBC Mellon: Jennifer Israel, Corporate Communications, 416-643-6538, [email protected]; AGF: Amanda Marchment, Director, Corporate Communications, 416-865-4160, [email protected]
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