GE Electric mandates CIBC Mellon 20 February 2014Toronto Reporter: Georgina Lavers
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General Electric (GE) Canada has selected CIBC Mellon to provide custody, fund accounting and benefit payment services for GE Canada's trusteed pension funds.
GE will also receive online delivery of investment information through the Workbench platform and integrated access to BNY Mellon Global Risk Solutions investment analysis products. The CAD$1.3 billion investment servicing mandate comprises three underlying pension plans for GE Canada and their related entities.
"After an extensive review, we selected CIBC Mellon as our investment servicing provider and custodial trustee based on their tightly integrated reporting, processing and information-delivery platform, and for the considerable strength and experience of their service teams," said Lisa Jankov, assistant treasurer of GE Canada.
"The ability to access global risk and investment information in a single platform will be very valuable as we expand our alternative investment activities while adhering to stringent governance and reporting requirements."
"GE has a 120-year history of innovation in Canada, and we are proud to support GE with the same drive and determination," said Stuart Plummer, executive director of business development at CIBC Mellon.
"Our offerings help position GE with the operational support, risk reporting and transparency to move forward and execute on their investment decisions with confidence."
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