CIBC Mellon has been selected to provide asset servicing for the pension plan for employees of the University of Prince Edward Island 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 of administration and finance for 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 of 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."
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