AGF extends asset servicing partnership with CIBC Mellon
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AGF extends asset servicing partnership with CIBC Mellon 14 July 2020Toronto Reporter: Rebecca Delaney
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CIBC Mellon has been selected by AGF Management to provide fund accounting and administration, custody, and recordkeeping for Highstreet Asset Management.
The private client subsidiary of AGF will also receive performance valuation and reconciliation accounting services from CIBC Mellon alongside AGF’s institutional business.
The mandate extends the existing partnership in which CIBC Mellon provides custody, fund accounting and administration, securities lending, foreign exchange processing and settlement, and exchange-traded fund services to AGF’s suite of Canadian funds.
Chris Jackson, COO at AGF, commented: “The selection of CIBC Mellon is a natural extension to our existing relationship, allowing for continued operational synergies across AGF's business. 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.”
Ash Tahbazian, chief client officer at CIBC Mellon, added: “Our firms are well aligned, from our governance models to recognising that great people set our companies apart, and we are proud to continue to support AGF, and the new Highstreet mandate by extension.”
“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.”
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