Press Releases

Stéfane Marion Among the Top 20 Forecasters in the World

Montreal, 30 August 2013 -

The Chief Economist and Strategist of National Bank, Stéfane Marion, has once again been ranked among the top forecasters in the world by Bloomberg Markets magazine. This time, Mr. Marion was recognized for his forecasts on the state of the U.S. economy for the two year-period ended in June 2013.

Mr. Marion is the only economist from a Canadian bank that is part of this global top 20 list published in the September 2013 issue of Bloomberg Markets magazine. His 14th place also places him ahead of colleagues who work for renowned international institutions.

"This honour is, first and foremost, the result of teamwork," said Stéfane Marion. "We pay close attention to the U.S. economy, because changes there have a decisive impact on Canada. In fact, we are expecting the second half of 2013 in the United States to be even better than the first, which should make a difference for Canadian exports."

To determine the ranking, Bloomberg Markets magazine compiled forecasts over a two year-period from 65 economists for various economic indicators, including the Gross Domestic Product, unemployment figures, the Consumer Price Index, residential home sales, industrial production and personal spending.

Mr. Marion had already been recognized in 2011 for his economic forecasts. At the time, Bloomberg Markets magazine ranked the Chief Economist and Strategist of National Bank first among forecasters for Canada. That same year, he ranked second on Bloomberg's list of Top Forecasters of the Canadian Economy.

Bloomberg Markets magazine also ranked the Economy & Strategy Team at National Bank Financial, led by Stéfane Marion, as first among Canadian banks—and third worldwide—for its 2012-2013 forecasts on the Canadian dollar against the U.S. greenback. The team was also ranked first for the same forecasts in 2011-2012. In addition to Mr. Marion, the group is made up of economists Matthieu Arseneau, Marc Pinsonneault, Paul-André Pinsonnault and Krishen Rangasamy.

About  National Bank Financial
With $80 billion in assets under administration, National Bank Financial is a fully-integrated investment dealer combining retail advisory and brokerage services with institutional brokerage, investment banking, corporate finance, and securities clearing for third parties. National Bank Financial offers its services to more than 400,000 clients. Its Financial Markets division has a major presence in Toronto, Calgary, Vancouver and Montreal, as well as operations in the United States and Europe.

About National Bank of Canada
With $187 billion in assets as at July 31, 2013, National Bank of Canada ( together with its subsidiaries, forms one of Canada’s leading integrated financial groups, and has been named among the 20 strongest banks in the world by Bloomberg Markets magazine. The Bank has close to 20,000 employees and is widely recognized as a top employer. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank’s activities via social media and learn more about its extensive community involvement at and

Information (The telephone number provided below is for the exclusive use of journalists and other media representatives.):

Jean-François Cadieux
Chief Advisor – Public Affairs
National Bank
Tel.: 514-394-6500