News release Press Release

World-class Economist joins the Caisse: Oliver Fratzscher named Executive Vice-President, Chief Economist

Finance Montréal,

Montréal, Monday, March 29, 2010  - The Caisse de dépôt et placement du Québec today announced the appointment of Mr. Oliver Fratzscher as Executive Vice-President, Chief Economist. Mr. Fratzscher will join the Caisse’s Executive Committee.

Mr. Fratzscher has a wealth of experience from renowned European and U.S. banking and financial institutions. His expertise on emerging markets also makes his reputation.

"Mr. Fratzscher is a high calibre economist. Not only can he identify, gauge and synthesize global economic trends, but he can also make strategic investment recommendations and asset allocation assessments for the Caisse. And, as an interpretative and leading voice in economics and finance, Mr. Fratzscher will enrich public debate on these topics through his knowledge and analysis," said Roland Lescure, Executive Vice-President and Chief Investment Officer.

“We are experiencing important shifts in the global economic order. Mr. Fratzscher’s expertise will be a major asset: his economic insights will help us embrace the challenges and opportunities that lie ahead. In these times, this is exactly what the Caisse needs to succeed on global markets,” added Michael Sabia, President and Chief Executive Officer.

An international economic and global capital market expert, Mr. Fratzscher holds an M.A. in Economics from Université de Montréal and a Ph.D. in Economics and International Finance from Harvard University. For 10 years, he served as manager of World Bank’s Global Emerging Markets Local Currency Bond (GEMLOC) Program in Washington.

Mr. Fratzscher also held economic positions at the ABN AMRO Bank, Deutsche Bank, International Monetary Fund and Poland Council of Ministers.

Mr. Fratzscher will take the Caisse post in April.

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, 2009, it held $131.6 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:

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