Bank of New York Mellon : CIBC Mellon Selected to Provide Fund Services for iA Financial Group

September 1, 2020

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CIBC Mellon Selected to Provide Fund Services for iA Financial Group

Technology modernization program to increase capacity, efficiency in fund operations as iA Financial Group drives growth and expansion

CIBC Mellon Global Securities Services Company (CIBC Mellon) announced today that iA Financial Group has selected CIBC Mellon and its global enterprise partners BNY Mellon and CIBC to provide an array of fund services, asset servicing and data solutions as part of iA Financial Group's enterprise technology, fund services and operations modernization efforts. This program is designed to help iA Financial Group power growth through; increased efficiency and resiliency across back, middle and front office operations; and, make it easier to incorporate data across its investment lifecycle.

CIBC Mellon will provide fund services to iA Financial Group, including fund accounting and administration, custody, securities lending administration, and foreign exchange processing and settlement. The iA Financial Group technology and operational transformation mandate also encompasses integration of the data, technology and global asset servicing capabilities of the BNY Mellon global network, including a full data and analytics suite of solutions encompassing a data vault and data studio, performance measurement and reporting, middle office services, as well as custody and accounting for iA Financial Group's growing U.S. operations. This mandate builds on asset servicing CIBC Mellon already provides for iA Financial Group's asset management entity iA Clarington, and further extends the longstanding business, banking and services relationship between iA Financial Group and CIBC.

iA Financial Group is one of Canada'slargest insurance and wealth management groups with C$175.7 billionassets under management. The company is founded and based in Quebec, and anticipates extensive growth across its diversified operations in North America.

'We selected the CIBC Mellon team after an extensive market review focused on improving our operations, enhancing our approach to investment fund administration, strengthening our alignment with our core organizational focus,' said Pierre Miron, Executive Vice-President, Information Technology and Investment Operations, iA Financial Group. 'We have very strong growth plans, and by engaging the advanced capabilities available to us through CIBC Mellon, we will be able to build a superior operating platform, incorporate cutting-edge technology, standardize our practices and achieve greater efficiency of our investment operations - in turn helping us drive better outcomes for our clients, our shareholders and our team.'

'We are excited to significantly expand our relationship with iA Financial Group as they build more scalable operations, and better manage data as an asset class,' said Steve Wolff, Chief Executive Officer, CIBC Mellon. 'This mandate further reinforces CIBC Mellon as the premiere Canadian provider for institutional investors looking to drive operational transformation, and our engaged team looks forward to working collaboratively with our colleagues at iA Financial Group to help them increase capacity, gain efficiency and achieve their vision as a leader in their segment in Quebec, Canadaand USA.'

This mandate marks the extension of CIBC Mellon's proven service solutions for asset managers and investment operations outsourcing to support the specific reporting and operational requirements of the insurance industry.

About CIBC Mellon
CIBC Mellon is dedicated to helping Canadian institutional investors and international institutional investors into Canadaservice their financial assets throughout the investment lifecycle. 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 delivers informed investment services for investment funds, pension plans, insurance companies, banks, foundations, endowments, corporations, and global financial institutions whose clients invest in Canada. As at June 30, 2020, CIBC Mellon had more than C$2 trillionin assets under custody and/or administration. CIBC Mellon is part of the BNY Mellon network, which as at June 30, 2020had US$37.3 trillionin 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.

For more information, including CIBC Mellon's latest knowledge leadership on issues relevant to institutional investors active in Canada, visit www.cibcmellon.com.

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