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© Copyright 2000 Rogers Media. The following article first appeared in the February 2000 edition of
BENEFITS CANADA magazine.
Q & A
"What is the best thing your custodian did for you in 1999?"
"1999 was definitely the year of a demutualization lottery. The unexpected windfalls that some pension
clients have received from demutualizing insurance companies, would qualify as the best thing custodians
have done for their clients in 1999.
The introduction of increasingly more sophisticated Internet administration and communication systems would
take second place.
The best thing my custodian did for me in 1999 was a terrific job keeping the office spic-and-span."
Darryl Staples,
president,
Staples & Company,
Vancouver
"The best thing our defined contribution plan custodian did was work with us to develop a meaningful
overhead presentation to be used in our road show to all our plant locations.
Although we have sizeable locations, we also have paper recycling locations across Western Canada that only
have a few employees in each facility.
The overhead presentation is enabling me to address employees at these locations on basic principles of
investing, such as the three legged stool comprising of government programs like the Canada Pension Plan,
corporate plans and your own investments. The approach is that if any of the legs are unbalanced, the stool
will fall over."
Rose Neufeld,
executive director,
Municipal Employees
Benefits Program,
Winnipeg, Man.
"Unfortunately our custodian was Bank of Montreal, who sold their services to CIBC Mellon last year. We
went through a request for proposal process during 1999 and selected State Street. Our contract with them
was effective Nov. 1, 1999.
We switched to State Street because of the service we felt they could provide, their technical direction
and their securities lending system. We were pleasantly surprised with the ease of transition."
Roger Sims,
director, benefits and
risk management,
Crown Packaging Ltd.,
Vancouver
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