CIBC Mellon Global Securities Services Company appointed by the Province of Newfoundland and Labrador to provide securities lending, custody, accounting services and performance measurement for its $6.4 billion pooled pension fund.
“Newfoundland and Labrador is a vibrant province with exciting growth and our selection as the asset servicing provider for its pension plan is a gratifying win for our company,” says David S. Linds, senior vice president, business development and client relationship management at CIBC Mellon.
The Province of Newfoundland and Labrador pooled pension fund was created on July 1, 1980, under the authority of the Pensions Funding Act to provide for the funding of pension plans sponsored by the Province. The affairs of the fund are the responsibility of the Minister of Finance, as Trustee.
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