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CIBC Mellon Selected to Provide Asset Servicing for the University of Saskatchewan Endowment

Press Release

TORONTO and SASKATOON, SK, Nov. 27, 2023 – Today, CIBC Mellon announced that it has been chosen to provide asset servicing solutions to the University of Saskatchewan’s (USask) endowment fund – including custody, institutional accounting, foreign exchange processing and settlement services, and digital solutions including automated tools. These capabilities unlock immediate efficiencies for USask, including cash administration, and investment information data access and delivery via the NEXEN® investment data platform. Transition oversight was provided by Aon Consulting.

This announcement builds on CIBC Mellon’s existing asset servicing relationship with USask.

CIBC Mellon’s extensive experience in the higher education sector spans a quarter century, establishing the provider as the premier choice for Canada’s leading post-secondary institutions.

“With CIBC Mellon as a trusted partner, we can confidently and securely look to the future where our growing endowments will support USask’s students and its discovery mission,” said Greg Fowler, USask’s vice-president, administration, and chief operating officer. “We are confident that CIBC Mellon’s long-standing reputation in the sector and their unwavering dedication to supporting educational institutions aligns seamlessly with our mission.”

“We are honoured to be chosen by the University of Saskatchewan to service their endowment fund,” said Darlene Claes-McKinnon, Vice President, Relationship Management and Segment Lead, Asset Owners. “Our team is committed to providing USask with innovative solutions, supporting USask as they align their financial strategies with their long-term goals.”

“At CIBC Mellon, we are dedicated to constructing the framework for future growth. Canada’s colleges, universities, and high education sector form the bedrock of Canada’s future talent pool. We take immense pride in fortifying their foundations,” said Ash Tahbazian, Chief Client Officer, CIBC Mellon. “USask stands as a pivotal cornerstone in this endeavour, playing an essential role in shaping our educational landscape and we are proud to service their endowment fund and expand on our broader commitment to serve Canada’s asset owners.”

About the University of Saskatchewan:

The University of Saskatchewan (USask), located in the vibrant city of Saskatoon on Treaty 6 territory and the traditional homeland of the Métis, is leading the way in tackling pressing problems like water and food security. Research, teaching and learning at USask is enhanced by our array of world-class centres and facilities.

A range of excellent programs, from business, law, and public policy to engineering, medicine and veterinary medicine, positions us to cross traditional discipline boundaries and work together to bring a unique perspective to key global challenges. Our strong community and well-recognized experts will continue to drive USask to be the university the world needs.

With more than 26,000 students from around the globe, including nearly 3,300 self-declared Indigenous students and more than 3,400 international students, our strong community and well-recognized experts will continue to drive USask to be the university the world needs.

For media inquiries, please contact:

Alexandra DeCata, Corporate Communications, CIBC Mellon, 416-643-6126
alexandra.decata@cibcmellon.com

Daniel Hallen, Media Relations, University of Saskatchewan, 306-966-6922
daniel.hallen@usask.ca

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