Products January 9, 2003

CIBC Mellon's Workbench Expands Portfolio Options

September 25, 2001(PLANSPONSOR.com) - Institutional investors and their investment managers can now monitor their investments from anywhere in the world through CIBC Mellon's new online product, Workbench.
Reported by

Investment managers will be able to access this browser-based, real-time reporting and global market information tool by logging onto the group’s new Web site.

Features

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The Workbench site provides access to cash, custody and accounting reports with search capabilities and a report scheduler. Other features include:

  • single sign-on access,
  • customizable home page,
  • enhanced client security, and
  • online support

In addition, it has a reference library that includes

  • global news updates,
  • market profiles,
  • market commentaries,
  • currency analysis, and
  • an online global settlement and trading guide

Future enhancements include delivery of corporate action notification and response system, performance measurement, and analytical reporting through the site.

Workbench is first being released to CIBC Mellon’s investment manager community, with complete rollout to all CIBC Mellon clients by early next year.

CIBC Mellon is a corporate services provider of domestic and global custody, securities lending, multi-currency accounting, performance measurement, investment analytics, information delivery and foreign exchange services.

The Mellon group of companies represents more than US$2.8 trillion in global assets under custody, administration and management.

Deals and People January 8, 2003

Scalia to Leave DoL Post

January 8, 2003 (PLANSPONSOR.com) - Eugene Scalia, acting solicitor of the US Department of Labor (DoL), will step down from his post, the DoL announced.
Reported by

Scalia, whose initial nomination was fiercely opposed by labor unions, is scheduled to leave his job as the DoL’s top lawyer January 17. Deputy Solicitor Howard Radzely succeeds Scalia as acting solicitor, the DoL said.

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“I have concluded that now is an appropriate time for me to leave the department and take on other challenges,” Scalia said in a statement. Scalia is the son of Supreme Court Justice Antonin Scalia.

President Bush appointed Scalia to the position through a recess appointment in January 2002 (See Bush Bypasses Senate, Appoints Scalia to DoL) , and when his recess appointment expired in November of last year, he was designated acting solicitor by the President. Bush first tapped Scalia as labor solicitor in spring 2001, but Democrats who controlled the Senate blocked a vote on his nomination over union objections to his opposition of workplace safety regulations during the Clinton administration.

In a statement released after the announcement of Scalia’s departure, United Auto Workers President Ron Gettelfinger called on the White House to tap a new solicitor better qualified to help protect American workers.

“Eugene Scalia served a recess appointment because the U.S. Senate would not confirm him in the face of his demonstrated hostility to enforcing basic workplace safety standards in areas such as ergonomics,” Gettelfinger said in a statement.” We hope that this time, President Bush will send the Senate a candidate who is worthy of confirmation.”

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