B of M sells custody unit to CIBC Mellon
Article Abstract:
Bank of Montreal will sell its custody operations to CIBC Mellon Global Securities Services Co for an estimated C$100 million. The acquisition of Bank of Montreal's division, which administers C$170 billion in client assets, will boost CIBC Mellon's client assets under management to C$490 billion. CIBC Mellon is a joint venture between Canadian Imperial Bank of Commerce and Mellon Bank Corp of Pittsburgh, PA.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
Royal properties attract interest
Article Abstract:
Royal Bank of Canada received 20 expressions of interest for the 33 office structures and processing centers in Canada that it selling. The billion- dollar real estate portfolio includes the bank's landmark headquarters in downtown Toronto, Ontario. Among the prospective buyers are Gentra Inc, TrizecHahn Corp, Cadillac Fairview Corp and the Ontario Municipal Employees Retirement Board (OMERS).
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Scotiabank merges investment arms. CIBC announces buyback to bolster sagging stock
- Abstracts: Morty Shulman goes to battle again. Hyal stock tanks on lost marketing deal
- Abstracts: New services raise Internet stakes. It's spin city in Internet land
- Abstracts: Cami plant wins key role in GM small-car program. Magna wins $700 million in contracts
- Abstracts: Cadillac shares drop 10% after financing plan unveiled. Gentra chief unveils $175-million Toronto complex