StonePine Asset Management (StonePine) has selected CIBC Mellon to provide its asset servicing solutions.
Based in Montreal, StonePine is a global equity manager founded in 2021.
As part of the mandate, CIBC Mellon will provide StonePine with fund accounting, administration, global custody services and unitholder recordkeeping.
StonePine will also have investment information data access via CIBC Mellon’s NEXEN investment data platform.
StonePine currently has approximately $60 billion in assets under management and is led by CEO and chief information officer, Nadim Rizk.
Commenting on the mandate, Rizk, says: “We are pleased to tap into CIBC Mellon’s global network, buoyed by the strength and success of their global enterprise. In addition, their technology, agile implementation timeframes, and the support provided by their reputable client service teams really positioned them as a market leader and an organisation to which we are proud to entrust our fund operations.”
Gord Kosokowsky, executive director, relationship development and segment co-lead, asset managers at CIBC Mellon, comments: “CIBC Mellon is pleased to provide StonePine with access to local market operational expertise, advanced technology, and an open architecture approach that enables an array of specialised solutions. We continue to see industry players like StonePine pursue opportunities that enable efficiency and scale, driven by increasing client demands for robust technology and advanced operations."
