CIBC Mellon Global Securities Services announced that it has been chosen by Redwood Asset Management, manager of the Redwood Funds, Ark Funds and SciVest Funds to provide asset servicing solutions, including custody, fund valuation and foreign exchange services for a number of the firm's investment funds.
"Our fund managers are increasingly holding securities across multiple asset classes, countries and currencies," said Peter Shippen, president, Redwood Asset Management Inc. "CIBC Mellon offers a true global solution, allowing our portfolio managers to execute their investment strategies without limitations. CIBC Mellon is a customer-focused company that is highly responsive to the needs of its clients."
"CIBC Mellon supports a broad spectrum of funds in Canada, including those in the alternative space," said Thomas S. Monahan, president and chief executive officer, CIBC Mellon. "We worked with Redwood to fully understand the company's unique requirements and to co-develop a robust and transparent asset servicing solution that the company and its investors can depend on for years to come."
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