CIBC Mellon to provide asset servicing for the Princess Margaret Cancer Foundation

Non-profit buys in wide range of services from Canadian custodian.

By Jonathan Watkins

CIBC Mellon has been chosen to provide asset servicing solutions to the Toronto-based Princess Margaret Cancer Foundation (PMCF). 

The services will include custody, institutional accounting, unitisation services, foreign exchange processing and settlement services, and investment information data access via the NEXEN platform.  

Located in Toronto, Ontario, Princess Margaret Cancer Foundation was established in 1982 and is considered a world leader in the areas of cancer, stem cell research, image-guided therapeutics, and patient survivorship program development.  

The PMCF enables Future Care Now by raising funds that accelerate cancer research, education and clinical care, benefitting patients at Princess Margaret Cancer Centre, across Canada, and around the world. 

“One of our key focus areas is to deliver operational efficiency by optimising the use of our resources in our fundraising efforts,” said John Anzin, vice president, finance, Princess Margaret Cancer Foundation. “Having CIBC Mellon as a provider, with their industry knowledge, their scalable and proven platforms, coupled with their experienced client services teams, allows us to focus on our core competencies, continue to deliver on our core mission and strengthen the impact of donor funds. From the start, the CIBC Mellon team demonstrated a commitment to understanding our unique operating requirements.” 

CIBC Mellon has now won three announcements this year which it has made public. Last month, the custodian was selected by StonePine Asset Management to provide a full suite of asset servicing solutions, while there was also a mandate won from Forstrong Global in March. 

“We are pleased to welcome the Princess Margaret Cancer Foundation as a client and look forward to supporting their investment operational and custodial needs,” said Darlene Claes-Mckinnon, executive director, relationship management, CIBC Mellon and co-head of the company’s asset owner segment.   

“Canadian asset owners and not-for-profit organisations are under increasing pressure to deliver stronger outcomes for stakeholders as they work to deliver on their core mission, achieve their goals, increase transparency and demonstrate effectiveness. We look forward to supporting PMCF’s data optimisation and to putting our scalable technology in place to empower and streamline their investment operations.”