The public pension plan manager in Quebec, La Caisse de dépôt et placement du Québec (La Caisse), is opening more offices worldwide.
"It is our responsibility to go out and seek returns where they are and serve as a bridge to the world for Québec's economy," commented La Caisse president and CEO Michael Sabia in a speech to the Montreal Council on Foreign Relations on June 2.
Mr. Sabia announced that La Caisse is strengthening its presence in the United States by expanding its New York office and opening a satellite office in Washington. There are also plans for an office in Mexico, which will serve as a bridgehead to Latin America, as well as a regional office in Singapore, which will be a base for business in Asia. Eventually La Caisse intends to open branches in Mumbai, India and Sydney, Australia.
"There are many good reasons why we need a foothold on the ground," explained Mr. Sabia. "There is one reason that is particularly important to me - that our people assigned to these positions can become immersed in the business culture of these regions of the world and develop networks of contacts."