Deal greatly expands company's leadership position and presence in Canada

NEW YORK and TORONTO, February 16, 2010 — BNY Mellon, the global leader in asset management and securities servicing, has signed a definitive agreement to acquire the corporate trust business of CIBC Mellon.  The acquisition will more than double BNY Mellon's share of the corporate trust market in Canada and expand its leadership position in a number of key segments, servicing domestic and cross-border debt issuances, structured credit and securitizations, government stimulus programs and public private partnership transactions.

The acquisition is expected to close by the end of the first quarter, subject to regulatory approvals.  Terms of the agreement were not disclosed.

"This transaction enhances our leadership position and presence in Canada and demonstrates our strong commitment to growing our corporate trust business globally," said Scott Posner, chief executive officer of BNY Mellon Corporate Trust. "Our focus will be on continuing to provide the high quality service that clients have come to expect from CIBC Mellon while offering them a broader set of services that meet their growing and evolving needs."  

"This transaction is a win-win for everyone involved," said Thomas S. Monahan, president and chief executive officer of CIBC Mellon.  "Our corporate trust clients will be able to access the global capabilities of the world's largest corporate trust provider, BNY Mellon, and CIBC Mellon will be able to further focus on providing market leading products and services across its core client base. As always, high quality client service will remain our priority up to and following the close of this deal."  

Upon completion of the deal, BNY Mellon, through its wholly-owned subsidiary BNY Trust Company of Canada, will service approximately $300 billion in outstanding debt with offices in Vancouver, Calgary, Toronto and Montreal.  In addition, it will offer clients a range of new services, such as cross-border issuer services, administration outsourcing, portfolio analytics and document custody.  

"Canada is a thriving country with a strong banking system, stable economy and compelling growth opportunities in many industries, such as oil and gas, mining, financial services and technology.  We are well-positioned to be the provider of choice across nearly every client segment in Canada," said Posner.

BNY Mellon Corporate Trust services $12 trillion in outstanding debt from 58 locations in 20 countries. Its clients include governments and their agencies, multinational corporations, financial institutions and other entities that access the global debt capital markets. The corporate trust business utilizes its global footprint and expertise to deliver a full range of issuer and related investor services and develop customized and market-driven solutions. Its range of core services includes debt trustee, paying agency, escrow and other fiduciary offerings.

Corporate trust providers are appointed by debt issuers as well as fund and collateral management institutions to perform a variety of services related to debt and collateral administration, safekeeping, direct cash and investment management, portfolio and transparency analytics, reporting, and final asset disposition and distribution activities.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK) . BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets.  BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team.  It has $22.3 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day.  Additional information is available at www.bnymellon.com.