VANCOUVER, FEBRUARY 5, 2020 – CWB Trust Services is pleased to announce its appointment as the custodian for the retirement plan for non-teaching staff at School District 43 (Coquitlam).
“We’re thrilled to include School District 43’s non-teaching staff pension plan as one of our pension custody appointments,” states Jessi Takhar, AVP, Business Development and Relationship Management at CWB Trust Services. “With a proven record of providing custody services to many of Canada’s public service support organizations, our partnership was a natural fit.”
Valued at more than $130 million in assets, School District 43’s non-teaching staff pension plan services over 930 members. As part of the mandate, CWB Trust Services will act as custodian and trustee for the plan, providing best-in-class online benefit payment services for the plan’s members and additional ancillary support services for the plan.
“As we conducted our review, we were pleased by the flexible service model and single integrated reporting platform,” explains Chris Nicolls, Chief Financial Officer and Secretary-Treasurer for School District 43. “The onboarding process was straightforward and seamless; we have no doubt that this same level of support and service will continue as our partnership develops.”
Sabeen Purewall, CWB Trust Services’ Director of Business Development, adds, “Our selection as custodian for School District 43’s non-teaching staff plan further demonstrates our position as a leader in providing customized custodial solutions. We understand that each of our clients have unique requirements and we are proud to have been able to create a tailored solution for School District 43’s non-teaching plan.”
Plan members were notified of the change in late-2019, with the mandate taking effect in December 2019.
About CWB Trust Services
CWB Trust Services, a wholly owned subsidiary of Canadian Western Bank and a member of the CWB Financial Group, provides personalized trustee and custodial solutions for mid-sized pension plans, brokerage firms, investment managers, endowments, individual mortgage investors and other investment pools.
Learn more at www.cwt.ca.
About CWB Financial Group
CWB Financial Group is a diversified financial services organization providing proactive business and personal banking, trust and wealth management across Canada. Headquartered in Edmonton, Alberta, we’ve offered customized financial solutions for over 35 years and operate with a clear focus on meeting the unique financial needs of business owners. We’re obsessed with providing the right banking, lending and investment solutions for our clients – by asking the right questions, sharing our industry and financial services expertise, and genuinely believing that great relationships get results.
As a public company on the Toronto Stock Exchange (TSX), CWB trades under the symbols “CWB” (common shares), “CWB.PR.B” (Series 5 Preferred Shares), “CWB.PR.C” (Series 7 Preferred Shares) and “CWB.PR.D” (Series 9 Preferred Shares).
Learn more at www.cwb.com.
About School District 43 (Coquitlam)
The Coquitlam School District (School District 43) is the third-largest school district in British Columbia with 32,000 students attending 69 schools. It is the largest employer in the Lower Mainland’s Tri-Cities area with over 4,300 teaching, administrative, managerial and support staff positions.
Learn more at www.sd43.bc.ca.