CIBC Mellon has been appointed to provide custody, fund accounting and ETF servicing for CI Financial’s 14 Toronto Stock Exchange-listed CI WisdomTree ETFs, which the company recently acquired. CIBC Mellon already services all of CI Financial’s ETFs. CI Financial is one of Canada’s largest investment companies and, with its acquisition of WisdomTree’s Canadian operations, the company’s ETF assets have grown to CAD9.2 billion.
Caitlin Dean, senior vice-president, portfolio operations and chief operations officer, funds, for CI Investments, said: “We are increasing the scale of our ETF business and expanding our lineup of ETF mandates and product offerings, and we view CIBC Mellon as a long-term strategic partner who is well positioned to support our global expansion in this key growth segment. We recognize CIBC Mellon’s superior ETF capabilities, its demonstrated expertise, and its significant market share in the Canadian ETF space.”