The Public Employees Benefits Agency (PEBA) has selected CIBC Mellon as a provider of both national and international custody, institutional accounting, and securities lending.
Government agency PEBA will also receive data and analytics solutions, such as performance and compliance reporting, through the contribution Public Employees’ Pension Plan and benefit Municipal Employees’ Pension Plans of BNY Mellon.
Under the Ministry of Finance for the Canadian province of Saskatchewan, PEBA conducts pension and benefit programmes for public sector employees, while CIBC Mellon provides asset servicing to institutional investors, including pension plans, investment funds, and insurance companies.
Gary Hutch, executive director of investment services for PEBA, said: “As a government agency, it is PEBA’s mission to foster financial wellness and provide valuable pension and benefit services as we serve our plan members. CIBC Mellon’s data solutions and approach to partnering with us right from the beginning were key factors for us in recommending them as our custodian to the plans we support.”
Catherine Thrasher, strategic client solutions and global risk solutions at CIBC Mellon, added: “We are pleased to welcome PEBA as a client and look forward to supporting the operational needs of their pension plans. Sophisticated institutional investors such as PEBA face complex risk pressures such as complying with new regulations, managing transparency concerns and mitigating investment risks across diverse asset classes, and our team looks forward to empowering them as they serve their stakeholders.”
