CIBC Mellon Global Securities Services Co. announced it has completed the acquisition of the unitholder record keeping and fund administration business of Felcom Data Services Inc., a wholly owned subsidiary of Jovian Capital Corp.
The transaction, which was announced Oct. 8 and completed Monday, includes the transfer of Felcom's client contracts and the majority of the company's employees to CIBC Mellon.
With the closing of the acquisition, CIBC Mellon clients can have access to an enhanced and fully integrated asset servicing platform. Investment fund clients will have access to a wider range of services, including unitholder record keeping and fund administration, online reporting and custody services.
CIBC Mellon is 50-50 joint venture of Canadian Imperial Bank of Commerce and Bank of New York Mellon Corp.
