CIBC Mellon has been recognized as the custodian with the best Internet-based client reporting system. The award spotlighted CIBC Mellon’s browser-based, real-time reporting and global market information tool Workbench and was based on the results of an independent survey of several key global custodians. The award was presented during the recent GSCS Benchmarks’ annual awards dinner.

“This award is a great testament to the success we’ve had in introducing clients to the many dynamic features of our Workbench product,” said Thomas MacMillan, CIBC Mellon president and CEO. “Providing service excellence has been a driving force for us, and in cooperation with our U.S. parent, Mellon Financial Corporation, we have developed a unique online tool that adds value for our clients and differentiates us from our Canadian competitors.”

Robert Kay, managing director of Global Securities Consulting Services, commented, “This award is a tribute to CIBC Mellon’s high achievement in providing an online tool that meets clients’ needs and recognizes their strong commitment towards integrating new technology and client satisfaction.”

GSCS Benchmarks has measured custodian performance since 1995, highlighting excellence in settlement and safekeeping services. The Review of Subcustodian Services, published annually in GSCS Benchmarks magazine, ranked CIBC Mellon as a “star performer” for the second consecutive year this past September. Results of this review are based on “superior” performance ratings in three categories — settlement, safekeeping and overall performance.