The Caisse de dépôt et placement du Québec Strengthens Its Economic Expertise

Paul Fenton becomes Chief Economist and Yanick Desnoyers
joins team as Deputy Chief Economist

MONTREAL, May 6 /CNW Telbec/ - The Caisse de dépôt et placement du Québec today announced the appointment of Paul Fenton as Chief Economist and Yanick Desnoyers as Deputy Chief Economist. These appointments will enable the Caisse to continue developing its in-depth knowledge of the markets in which it invests, whether in Québec, Canada or other countries worldwide.

"We are proud to count on the expertise of Mr. Fenton, who has worked, in particular, at the Bank of Canada, where he demonstrated outstanding leadership skills, both as a high-level economist and a senior executive," said Roland Lescure, Executive Vice-President and Chief Investment Officer of the Caisse. "In today's complex and ever-changing global economy, Mr. Fenton's vast experience, rigour, and comprehensive vision of major macroeconomic and financial issues will prove invaluable, deepening the understanding and analytical capabilities of the Caisse's team of economists."

"I am pleased to welcome Mr. Desnoyers to our team. He has an impressive track record that will help strengthen the Caisse's economic expertise," said Mr. Fenton. "I am convinced that, together with the Caisse's team of highly qualified economists, we will put our complementary experiences to work for the organization and its depositors to identify sectors and markets with high growth potential."

Until recently, Paul Fenton was Chief of the Canadian Economic Analysis Department of the Bank of Canada, which he joined in 1979. Throughout his career, he has conducted wide-ranging analyses of economic conditions across Canada in support of the country's monetary policy. Within the organization, Mr. Fenton also held the positions of Chief Forecaster and Research Director. At the International Monetary Fund, Mr. Fenton served as Adviser to the Executive Director for Canada, Ireland and the Caribbean, and as an economist for its World Economic Outlook publication.

Mr. Desnoyers, who is joining Mr. Fenton's team, was Assistant Chief Economist at National Bank Financial Group and Senior Economist at the Bank of Canada. In these roles, Mr. Desnoyers developed solid expertise in macroeconomics and foreign exchange analysis, and has, in turn, been responsible for analyzing the economic situation of the U.S., Europe, Japan, the U.K., Brazil and Venezuela.

Mr. Fenton and Mr. Desnoyers will officially take their posts at the Caisse on May 9 and 30, respectively.

ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at December 31, 2010, it held $151.7 billion in net assets. As one of Canada's leading institutional fund managers, the Caisse invests in major financial markets, private equity and real estate. For more information: www.lacaisse.com

SOURCE CAISSE DE DEPOT ET PLACEMENT DU QUEBEC

For further information:

Maxime Chagnon
Senior Director, Media Relations
514-847-5493
mchagnon@lacaisse.com

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CAISSE DE DEPOT ET PLACEMENT DU QUEBEC

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