Press Releases

National Bank Economists Recognized Once Again

Montreal, 27 May 2014 -

The Chief Economist and Strategist of National Bank, Stéfane Marion, is once again ranked among the top 20 forecasters in the world by Bloomberg. This time, Mr. Marion is sharing the honours with his colleague, Krishen Rangasamy, for the accuracy of their U.S. economic forecasts.

Messrs Marion and Rangasamy were ranked first among forecasters from Canadian financial institutions on this list, which includes institutions from all over the world. They also received the top rank overall in the U.S. Gross Domestic Product forecast category.

"This honour is, first and foremost, the result of teamwork," said Stéfane Marion. "The U.S. economy is keeping us on our toes because of its impact on Canada. After a difficult winter, we are forecasting substantial growth in the U.S. over the next few months, and the Canadian economy will benefit."

To determine the ranking, Bloomberg compiled forecasts from 68 economists over a two year-period (that ended in February 2014) for various economic indicators, including the Gross Domestic Product, unemployment figures, the Consumer Price Index, residential home sales, industrial production and personal spending.

Last year, Stéfane Marion also ranked among the top 20 best in his profession for his forecasts on the state of the U.S. economy. In 2011, Bloomberg ranked him first in Canada, and second worldwide among the top forecasters of the Canadian economy.

Bloomberg 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 as one of the top currency forecasters 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 of Canada
With $195 billion in assets as at January 31, 2014, 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