Custodian mandate agreement renewed between La Caisse and State Street

Custodian mandate agreement renewed between La Caisse and State Street 
100 jobs created in Montréal's financial sector 
MONTRÉAL, May 2, 2014 /CNW Telbec/ - Today La Caisse de dépôt et placement 
du Québec announced the renewal of an agreement for the custodian services 
with State Street ̶ the entity responsible for settling transactions and 
safeguarding assets traded by La Caisse. State Street, a global financial 
services leader, already serves as La Caisse's designated custodian, a role it 
has played for 14 years. It will continue to use the services of Desjardins 
Trust as sub-custodian of La Caisse's Canadian assets. 
This agreement enables La Caisse to improve its efficiency and agility, reduce 
costs and contribute to Québec's economic development. In addition to 
generating significant savings, the agreement with State Street allows La 
Caisse to continue to simplify its operational and technological activities. 
Some of the main operational benefits achieved through the agreement include 
faster updates of La Caisse's records and optimized banking transactions as a 
result of improved cash flows, both as proposed by State Street. 
100 jobs created in Montréal
As part of this agreement, State Street has committed to create 100 
professional financial services jobs over the next year, practically tripling 
its number of employees in Montréal. This talent pool will be concentrated in 
a new Global Centre of Excellence in fund accounting that will help strengthen 
high-level financial expertise in Montréal. 
More direct access, both here and internationally 
The level of service received will be enhanced through direct access to 
specialists from the various business sectors of State Street and Desjardins 
Trust and the physical presence of some of the custodian's representatives in 
La Caisse's offices. The agreement will also allow La Caisse to leverage State 
Street's strengthened international network in certain growing countries, 
thereby facilitating investment activities in these countries. 
For Bernard Morency, Executive Vice-President, Depositors, Strategy and Chief 
Operations Officer of La Caisse, "renewal of this agreement reinforces our 
operational agility and strengthens La Caisse's ability to meet its strategic 
goals in Québec and around the world." 
"With this agreement, La Caisse reaches another important milestone in its 
operational re-engineering, aimed at transforming its technologies and 
operations so that they will be better structured and more agile," said Pierre 
Miron, Executive Vice-President, Operations and Information Technology of La 
Caisse. "By continuing our business relationship with State Street, we rest 
assured that we have a partner that is well aware of our priorities, and whose 
vision is perfectly aligned with our business needs." 
"We are delighted to expand our longstanding partnership of more than 20 years 
with CDPQ," said Stephen Nazzaro, executive vice president of State Street 
Corporation.  "Our commitment to technology innovation allows us to partner 
with our clients to help them achieve their strategic priorities." "We look 
forward to strengthening our partnership with Caisse de dépôt as they grow 
their business," added Rob Baillie, head of State Street's Global Services 
business in Canada. 
Rigorous bidding process 
Eight firms responded to the bid launched last year and three firms were 
selected as finalists. The proposals were then subject to a due diligence 
process, in accordance with Caisse policies. Additional requests led the 
finalists to review and adjust their respective service offerings. In the end, 
State Street's proposal provided the best fit with La Caisse's requirements. 
The agreement takes effect today. 
La 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, 2013, it held $200.1 billion in net assets. As one of Canada's 
leading institutional fund managers, La Caisse invests in major financial 
markets, private equity, infrastructure and real estate, globally. For more 

SOURCE  Caisse de dépôt et placement du Québec 
Jean-Benoît Houde Senior Adviser, Media Relations 514 847-5493 
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CO: Caisse de dépôt et placement du Québec
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-0- May/02/2014 14:01 GMT
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