CIBC Mellon has been selected by iA Financial Group to provide an array of fund services, asset servicing and data solutions. CIBC Mellon will provide services including fund accounting and administration, custody, securities lending administration, and foreign exchange processing and settlement. The iA Financial Group technology and operational transformation mandate also encompasses integration of the data, technology and global asset servicing capabilities of BNY Mellon, including a full data and analytics suite of solutions encompassing a data vault and data studio, performance measurement and reporting, middle office services, as well as custody and accounting for iA Financial Group’s U.S. operations. This mandate builds on services CIBC Mellon already provides for iA Financial Group’s asset management entity, iA Clarington, and extends the longstanding business, banking and services relationship between iA Financial Group and CIBC. Quebec-based iA Financial Group is one of Canada’s largest insurance and wealth management groups with CAD175.7bn AuM.
Pierre Miron, EVP, information technology and investment operations, iA Financial Group, said: “We selected the CIBC Mellon team after an extensive market review focused on improving our operations, enhancing our approach to investment fund administration, strengthening our alignment with our core organizational focus. We have very strong growth plans, and by engaging the advanced capabilities available to us through CIBC Mellon, we will be able to build a superior operating platform, incorporate cutting-edge technology, standardise our practices and achieve greater efficiency of our investment operations – in turn helping us drive better outcomes for our clients, our shareholders and our team.”