CIBC Mellon Global Securities Services Company have been appointed by Torstar Corporation to act as trustee and asset servicing provider for the company’s pension and master trust.
“Torstar Corporation is a broad-based media company and its businesses include the Star Media Group led by the Toronto Star. It was important for us to identify a partner that matches our reach and resources,” says D. Todd Smith, treasurer of Torstar.
“We are pleased to be Torstar Corporation’s service provider of choice, providing global asset servicing, including benefit payments, securities lending and performance measurement and analytics […] we look forward to supporting the corporation,” adds Thomas C. MacMillan, president and chief executive officer, CIBC Mellon.
The Torstar businesses also include digital properties thestar.com, toronto.com, LiveDeal.ca, Workopolis and Olive Canada Network; Metroland Media Group, publishers of community and daily newspapers in Ontario; and Harlequin Enterprises.
CIBC Mellon is 50-50 jointly owned by Canadian Imperial Bank of Commerce and The Bank of New York Mellon Corporation. CIBC Mellon is part of BNY Mellon Asset Servicing, which has more than US$ 20 trillion in assets under custody and administration and $1 trillion in assets under management.