IGM Financial Inc. has selected CIBC Mellon to assume most of IGM’s fund services functions. This will add fund administration servicing solutions to the custody and related services that CIBC Mellon already performs for IGM. Once definitive agreements are complete, most IGM fund services employees in Toronto and Winnipeg (c.100 people) will transition to CIBC Mellon. CIBC Mellon will also open an office in Winnipeg, Manitoba, its eighth office across Canada. The transaction is expected to close in November. Terms of the transaction were not disclosed.
