National Bank's Economic Analysis Department Now With National Bank Financial

Montreal, 26 April 2002 - 

The Bank today announced that its economists are being grouped together in a single unit, which will improve the organization of work, produce economies of scale and create greater synergy among the various components of the National Bank. Not only will this reorganization give the economists in both groups an excellent opportunity to acquire new competencies, but it will also be more stimulating for them from a professional standpoint.

By uniting National Bank Financial's economists, whose expertise with respect to institutional investors has been recognized on numerous occasions, with the Bank's economists, whose approach is banking oriented, the National Bank will obtain a more global view of the markets on which it operates as a diversified financial group. Moreover, banking services clients and brokerage clients alike will benefit from superior service and broader expertise.

The new team will be headed by Clément Gignac, Portfolio Strategist and Chief Economist at National Bank Financial. Mr. Gignac, who will also be appointed Vice-President – Portfolio Strategist and Chief Economist of the National Bank, will act as spokesperson for the entire National Bank financial group for all economic matters.

The services and publications offered by National Bank and National Bank Financial will in no way be interrupted as a result of the merger and the services currently offered by the Bank's Economic Analysis Department will continue to be available on the website.

National Bank of Canada is an integrated group which provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. The National Bank has assets of over $75 billion and, together with its subsidiaries, it employs over 17,000 people. The Bank's shares are listed on the Toronto Stock Exchange.

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Information: Carole Gagné
Senior Manager
Public Relations Department
National Bank of Canada
(514) 394-6991
* The telephone number and e-mail address are for the exclusive use of journalists and other media representatives.