Morneau Shepell selects CIBC Mellon for securities lending
30 April 2012 Toronto
Image: Shutterstock
CIBC Mellon will provide asset servicing solutions for the Nortel Networks Canadian defined benefit pension plans, including securities lending, custody services, pension accounting, pension benefits payment and reporting, and access to information-delivery technology.
Morneau Shepell is the administrator overseeing $2.8 billion of assets on behalf of Nortel pensioners for the purposes of winding up the Nortel Networks Canadian pension plans, and made the decision to choose CIBC Mellon as custodian.
"We identified CIBC Mellon's suite of asset servicing solutions as the best choice for Nortel's 20,000+ members based on the projected additional revenue from CIBC Mellon's strong securities lending program, the flexibility of their benefit payments team and the company's reputation for client service," said Robert Chepelsky, principal, asset consulting, Morneau Shepell.
"We look forward to providing Nortel members and Morneau Shepell with great service, efficiency and performance. CIBC Mellon's reputation as a trusted provider is continually built on the strong results we deliver on a daily basis for pensioners across Canada and their plan sponsors," said Tom Monahan, president and chief executive officer, CIBC Mellon.
Morneau Shepell is the administrator overseeing $2.8 billion of assets on behalf of Nortel pensioners for the purposes of winding up the Nortel Networks Canadian pension plans, and made the decision to choose CIBC Mellon as custodian.
"We identified CIBC Mellon's suite of asset servicing solutions as the best choice for Nortel's 20,000+ members based on the projected additional revenue from CIBC Mellon's strong securities lending program, the flexibility of their benefit payments team and the company's reputation for client service," said Robert Chepelsky, principal, asset consulting, Morneau Shepell.
"We look forward to providing Nortel members and Morneau Shepell with great service, efficiency and performance. CIBC Mellon's reputation as a trusted provider is continually built on the strong results we deliver on a daily basis for pensioners across Canada and their plan sponsors," said Tom Monahan, president and chief executive officer, CIBC Mellon.
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