Philippe Ithurbide pursues career in Europe

The Caisse de dépôt et placement du Québec announced today that Philippe Ithurbide has left the institution to take on new challenges. Mr. Ithurbide was responsible for overlay strategies under the Chief Investment Officer and was a member of the Executive Committee. After four years at the Caisse, he has chosen to pursue his career in Europe at Amundi, the newly formed company from the merger of asset management firms Crédit Agricole SA and Société Générale.

“My years at the Caisse have been very rewarding, both professionally and personally. I had the opportunity to work with talented and skilled colleagues, with whom I'll keep in touch,” said Ithurbide. “Besides the new challenges it represents in my career, my decision has a personal element—this homecoming will be an opportunity for my family and me to reconnect with our loved ones.”

“I want to thank Philippe for his contribution to the Caisse these last few years. I would like to particularly acknowledge his key role in establishing overlay strategies for our depositors, one of our new portfolio offer’s flagship projects. I wish him much success and a safe return to France,” said Roland Lescure, Executive Vice President and Chief Investment Officer:

“Philippe is a seasoned manager who has distinguished himself at the Caisse through his leadership, particularly in managing his teams during the 2008 financial crisis. I wish him all the success he deserves,” added Michael Sabia, President and Chief Executive Officer of the Caisse.

The Overlay Strategies team will continue to report to Mr. Lescure. The Caisse does not intend to fill the position vacated by Mr. Ithurbide.

ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

The 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, 2009, it held $131.6 billion in net assets. As one of Canada’s leading institutional fund managers, the Caisse invests in major financial markets, private equity and real estate. For more information: www.cdpq.com.