Securities services company CIBC Mellon has been selected by the Canada Council for the Arts (CCA) to deliver global custody and accounting services for the council's endowments and special funds as well as its Killam investment funds.

CCA, created in 1957 to foster and promote the arts, offers a broad range of grants and services to professional Canadian artists and arts organisations. Its head of finance Carole Boileau said the goal was to find an asset servicing provider that could help enhance the efficiency of the investment process.

Boileau said CCA had chosen CIBC Mellon " because one of it capabilities is its reporting technology which is "flexible, customisable and user-friendly. By using this technology we will be able to manage our funds even more efficiently."

CIBC Mellon is jointly owned by Canadian Imperial Bank of Commerce and BNY Mellon.