Sam Reda Named President and Chief Operating Officer of Natcan Investment Management Inc.

Montreal, 24 September 2002 - 

National Bank of Canada announces the appointment of Sam Reda to the position of President and Chief Operating Officer of Natcan Investment Management Inc., effective September 30.

“Natcan Investment Management is a portfolio manager that is already well-known in Eastern Canada for its high quality investment management services and considerable expertise.  In my opinion, it's important to continue growing in this part of the country while at the same time developing the market in the rest of Canada.  In fact, I intend to make that one of my priorities,” Mr. Reda stated.

Jean Turmel, President – Financial Markets, Treasury and Investment Bank and Chairman of the Board and Chief Executive Officer of Natcan Investment Management Inc., said that he was pleased to welcome Mr. Reda onto his team.  “His knowledge of financial markets combined with his steadfast commitment to improving portfolio management services and client servicing will tie in well with the goals of both Natcan Investment Management and its clients,” Mr. Turmel added. 

Mr. Reda, who has more than 25 years' experience in the financial milieu, is known for his expertise in portfolio management, his client-focused approach and his leadership.  Mr. Reda stated that he was greatly looking forward to pursuing his career objectives with a new team.  For over 10 years, and until quite recently, he was one of the principal officers at TAL Global Asset Management Inc. and, at the time of his departure, was a Senior Vice-President of the firm.  Mr. Reda, a McGill University graduate, is a Certified Financial Analyst (CFA) and a member of the Association for Investment Management and Research.

Founded in 1990, Natcan Investment Management Inc. is a National Bank subsidiary that is 25% owned by its management team. Recognized as one of the largest institutional fund managers in Canada, Natcan Investment Management Inc. specializes in investment management for pension funds, endowment funds, pooled funds and wealth management.  It favours a versatile management style focused on value creation, capital preservation and a disciplined approach.  Natcan Investment Management Inc., whose activities extend to markets around the world, has $17.8 billion in assets under management and 65 employees.

National Bank of Canada is an integrated group that 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 offers a full array of banking services, including retail, corporate and investment banking.  It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management.  The National Bank has assets of over $75 billion and, together with its subsidiaries, employs over 17,000 people.  The Bank's securities are listed on the Toronto Stock Exchange.

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Denis Dubé
Director of Public Relations
National Bank of Canada
Tel.: (514) 394-8644

* the following telephone number and e-mail address are intended solely for the use of journalists and other media representatives