CIBC Mellon and Financial Recovery Technologies Announce Streamlined and Strengthened Class Actions Recovery Opportunity for Canadian Institutional Investors

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CIBC Mellon and Financial Recovery Technologies Announce Streamlined and Strengthened Class Actions Recovery Opportunity for Canadian Institutional Investors

Canada NewsWire

TORONTO, May 17, 2022 /CNW/ - CIBC Mellon today announced a new collaboration with Financial Recovery Technologies (FRT), a leading provider of securities class action recovery services to the investment community. Through this opportunity, Canadian institutional investors will be able to subscribe for enhanced governance, recovery, and shareholder litigation solutions from FRT, to help them navigate the complexities associated with class action claims across a broad range of market jurisdictions. CIBC Mellon and FRT worked collaboratively to establish processes and streamline coordination of services between the organizations and their clients.

"We are pleased to make Financial Recovery Technologies' automated shareholder litigation monitoring and recovery solutions available to our clients with global holdings," said Ronald C. Landry, Head of Product and Canadian ETF Services, CIBC Mellon. "As securities class actions become more complex on a global level, the opportunity to work with FRT will provide clients with automated solutions and advanced analytics that are designed to adapt to growing industry complexity, all supported by streamlined coordination between FRT and CIBC Mellon."

"Through our strategic alliance, CIBC Mellon clients can now choose to benefit from FRT's robust securities class actions recovery solutions covering a breadth of global markets and case types including antitrust cases," said Rob Adler, Chief Executive Officer, Financial Recovery Technologies. "More and more, custodians like CIBC Mellon, recognize that their clients are asking for global class action monitoring, operational expertise to maximize recoveries, and insight to help stay ahead of industry trends. Our solution is designed to fill this need, and through our data processes collaboration, we will support a seamless onboarding and services process."

"The asset management market as well as the growth of responsible investment fund assets in Canada is expanding at a very strong clip," said Rob Rynd VP, Global Head of Partnerships and Alliances at Financial Recovery Technologies. "Those firms that work with CIBC Mellon will now have greater optionality to pick the solution that best fits their needs, while also strengthening their governance framework."

As the securities class action landscape becomes more complex, the CIBC Mellon and the Financial Recovery Technologies strategic alliance positions our clients to be covered across a multitude of jurisdictions, benefit from operational efficiency, and have access to unbiased and actionable information on opportunities to help maximize their securities class action recoveries.

About Financial Recovery Technologies

Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. Financial Recovery Technologies is a Cross Country Group company (http://www.ccgroup.com). For more information, go to www.frtservices.com.

About CIBC Mellon

CIBC Mellon is a Canadian company exclusively focused on the investment servicing needs of Canadian institutional investors and international institutional investors into Canada. Founded in 1996, CIBC Mellon is 50-50 jointly owned by The Bank of New York Mellon (BNY Mellon) and Canadian Imperial Bank of Commerce (CIBC). CIBC Mellon's investment servicing solutions for institutions and corporations are provided in close collaboration with our parent companies, and include custody, multicurrency accounting, fund administration, recordkeeping, pension services, exchange-traded fund services, securities lending services, foreign exchange processing and settlement, and treasury services. As at March 31, 2022, CIBC Mellon had more than C$2.5 trillion of assets under administration on behalf of banks, pension funds, investment funds, corporations, governments, insurance companies, foreign insurance trusts, foundations and global financial institutions whose clients invest in Canada. CIBC Mellon is part of the BNY Mellon network, which as at March 31, 2022, had US$45.5 trillion in assets under custody and/or administration. CIBC Mellon is a licensed user of the CIBC trade-mark and certain BNY Mellon trade-marks, is the corporate brand of CIBC Mellon Global Securities Services Company and CIBC Mellon Trust Company, and may be used as a generic term to refer to either or both companies. www.cibcmellon.com

Media Contacts:

CIBC Mellon: Alexandra DeCata, Corporate Communications, 416-643-6126, [email protected]

FRT: Jennifer Rothenberg, VP Marketing, 339-674-1608, [email protected]

SOURCE CIBC Mellon

Cision View original content: http://www.newswire.ca/en/releases/archive/May2022/17/c7084.html

Copyright CNW Group 2022

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