BNY Mellon, CIBC Mellon To Merge Securities Lending Operations - Quick Facts

(RTTNews) - The Bank of New York Mellon Corp. or BNY Mellon (BK) and CIBC Mellon, its long-established Canadian joint venture with Canadian Imperial Bank of Commerce, announced the integration of their respective securities lending desks, effective today. According to BNY Mellon, this integration establishes its Securities Finance business as one of the largest providers of securities lending services, with trading offices in New York, Pittsburgh Toronto, London and Hong Kong.

Rob Ferguson, Senior Vice President, Capital Markets, CIBC Mellon, said, "The alignment of our trading desk teams represents the culmination of years of working together as partners in the CIBC Mellon joint venture. This integration enhances client service across both organizations, with the significant resources and scale of two globally recognized securities lending programs. The BNY Mellon and CIBC Mellon project teams have worked closely to ensure a seamless integration for our respective clients."

Part of BNY Mellon's Global Collateral Services unit, the Securities Finance business covers over $2.5 trillion in lendable assets and outstanding loan balances of some $250 billion. CIBC Mellon's program represents more than 120 clients with roughly C$500 billion in lendable assets and C$60 billion on loan.