CIBC Mellon wins PowerShares mandate 14 July 2011Toronto Reporter: Ben Wilkie
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CIBC Mellon has been selected to provide a suite of asset servicing solutions for Invesco’s recently-launched TSX-listed PowerShares exchange-traded funds (ETFs). CIBC Mellon will deliver custody and fund administration services for PowerShares ETFs, with BNY Mellon providing performance and risk analytics.
“CIBC Mellon’s exceptional solution for ETF servicing in Canada, their strong custody and fund administration services, and their dedication to client service led us to appoint CIBC Mellon as the asset servicing provider for our TSX-listed PowerShares ETFs,” said Peter Intraligi, president and chief operating officer of Invesco’s operations in Canada.
“PowerShares is a leading brand in the global ETF space, and we are proud to partner with Invesco as they introduce PowerShares ETFs here in Canada,” said Tom Monahan, president and chief executive officer, CIBC Mellon. “We look forward to providing tailored solutions to support investors in TSX-listed PowerShares ETFs."
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