ETERNA FINANCIAL GROUP APPOINTS Mr. GILBERT GUAY
Mr. Pierre Olivier Tardif, President of Eterna Investment Management, is pleased to announce the official appointment of Mr. Gilbert Guay to the position of Vice-President, Business Development. This appointment is currently in effect, as Mr. Guay has been actively involved, since the fall of 2019, in the continued development and expansion of services offered by this active sector of Eterna Financial Group.
A graduate in business administration from Université de Rimouski, Gilbert Guay spent nearly 30 years at the Desjardins Group, enjoying a stellar career in various management positions, both in financial services for individuals, as well as business coaching and private management.
With extensive financial management, business development and strategic leadership experience in growth-oriented teams, he is recognized as a first-class manager and committed high-level developer, with proven leadership and visionary qualities. Mr. Guay’s impressive track record in business networking and development makes him an important contributor to the vitality of the business community and other organizations in the field.
About Eterna Financial Group
With expertise and commitment from a solid team of professionals, some of whom have worked together for over 45 years, Eterna Financial Group has built a reputation as a leader in the financial sector. With over $1.6 billion in managed assets, the Group continues to grow and is now an established and renowned institution in Quebec and Canada. Eterna Financial Group stands out by offering, under one roof, solid expertise in investment, trust services and life and health insurance, representing the full complement of services for optimal and comprehensive wealth management.
To the Point: Full Transparency
Dear clients, the last few weeks were extremely challenging for markets and investors. The market is increasingly anxious as the coronavirus continues its spread through the United States and Europe. It is inevitably investors who, day after day, bear the brunt of COVID-19 and its effects on the global economy, raising serious and valid concerns. The impact will be substantial and the world’s stock exchanges are in a correction phase that may continue for some time. The oil price war, which started in March, escalated fears of global recession and further confirmed concerns about a Canadian recession. Both our dollar and oil stocks were heavily affected. At the same time, the crisis of confidence stemming from COVID-19 was increasingly persistent, leading to a fundamental shift in our outlook and portfolio strategies. In particular, concerted efforts to contain the virus, including quarantines, travel restrictions, border closures and other restrictive measures, will directly impact economic activity in the short to medium term, generating significant repercussions for several sectors. Most at risk are recreational services, leisure, tourism and transportation. Other sectors will still be favoured, however, and large-scale fiscal measures and support from monetary authorities will jump-start the economy when the situation improves and markets show evidence of control.
You Can Count on Us!
While the current economic situation is still unsettling, there are factors which help us maintain a positive and reassuring outlook in this exceptional situation. Our portfolios remain secure, thanks to the high quality of our securities. Our rigorous company selection criteria, which always focused on healthy balance sheets, means that together, we will weather this highly volatile period, as we always have. Our teams are devoting considerable effort to evaluating the financial situation of our companies, especially in the context of a marked economic slowdown. We are confident that these companies will continue to pay their dividends as the situation recovers, as this is a temporary crisis that will eventually be resolved. We will also be in a position to take advantage of favourable opportunities, but we prefer to wait for the situation to become clearer before affecting any major changes to your portfolios. This does not, however, prevent us from capitalizing on opportunities that could seem interesting in the longer term. In closing, you need to remember that, in turbulent times, a sound partner’s solidity and expertise make all the difference.
What Do the Next Few Months Have in Store?
The most important, if not crucial matter at this stage is how long and how profound the slowdown will be. We are undoubtedly experiencing great uncertainty and our primary consideration regarding financial market behaviour will be whether we can expect a return to normality in 3 months, or in 6 to 9 months. One thing is certain: interest rates will remain very low. If you have more specific concerns, or wish to discuss the situation with us, contact your private manager, who will gladly assist you and answer any of your questions.
Eterna Investment Management
Our Top Priority? You! As the COVID-19 (coronavirus) pandemic continues its global impact, we wish to reassure you and inform you about special measures taken by Eterna Financial Group to limit the risks of spreading the virus while finding a solution, following directives from governments and public health officials. For this reason, we hope that you take care of yourself and your loved ones, while COVID-19 continues to disrupt our daily lives and weaken our social and economic systems. The situation is certainly unprecedented, but so is the support and assistance we offer you. We are monitoring the situation closely and taking maximum measures to protect the health and safety of our employees, clients and partners. We can guarantee our ability to sustain high-quality service, no matter how challenging the situation.
Business Continuity At Eterna, we have been able to quickly adapt our work methods to be prepared for different scenarios. In the context of social distancing, we first encouraged remote meetings with clients and teleworking, key to our business continuity strategy. With this temporary structure, we can maintain strict control over the number of people allowed in our offices and reduce traffic to a minimum within our facilities. That includes professionals in our Montreal, Quebec City and Trois-Rivières offices.
Employee Engagement We are concerned about the well-being of our teams and strive to adopt best practices in health and safety, including strict hygiene guidelines for our employees and partners. We have suspended all nonessential travel and postponed internal and external events, or hold virtual events. We have also applied, and will continue to apply, the principle of quarantine or isolation to any employee who has travelled outside of Canada, who has been in contact with anyone who has travelled outside of Canada or who presents symptoms similar to the coronavirus.
Transparent and Effective Communications We are committed to promptly sharing any relevant information or developments that are of interest to our employees and clients through the various means of communication available to us.
One Word: TOGETHER A positive approach is the best way to ensure we act together to minimize the impact of coronavirus on our communities and society. We are focused on implementing straightforward and practical solutions, which will have a beneficial impact on the protection we all need. If you have more specific concerns, or wish to discuss the situation with us, contact your private manager, who will gladly assist you and answer any of your questions. You can count on us! Finally, we wish to thank you for your trust, cooperation and support. Together, we will get through this period of uncertainty and turbulence.
The Eterna Team
ETERNA’S ENDURANCE ATHLETES RETURN TO THE QUEBEC CITY PENTATHLON DES NEIGES
The 16th edition of the Quebec City Pentathlon des neiges was held on February 22nd, an event spanning several days and which annually draws thousands of competitors and spectators to the Plains of Abraham.
After ETERNA’s first successful appearance in 2019, a group of 5 employees joined the Défi corporatif Langlois Avocats, a winter pentathlon that brings together five sports disciplines to raise funds for young people. The team proudly representing Eterna included Samuel Gosselin-Simard in cycling, Marie-Andrée Gendron in running, Serge Richard in cross-country skiing, Marie-Claude Dion in skating and Mickaël Carrier in the snowshoe race.
All proceeds from the Pentathlon’s global event made it possible for more than 2,500 local youth to participate in a school pentathlon or obtain financial aid from the À l’école moi j’bouge program to register for extracurricular activities.
Congratulations to our valiant athletes who braved the cold for an inspirational challenge, which they met with flying colours.
ETERNA LENDS ITS EXPERTS TO THE ASSOCIATION DE LA RETRAITE ET DES AVANTAGES SOCIAUX DU QUÉBEC (ARASQ)
We are delighted that Mr. Michel Pelletier, Vice-President and Senior Manager for Eterna Investment Management, has recently contributed to the successful interactive economic and financial forecasting events organized by ARASQ, together with prominent strategists from the private management sector.
An accomplished economic analyst and forecasting expert, Mr. Pelletier was among the speakers at the Forecast 2020 evenings held in Quebec City and Montreal last January. With Ms. Stéphanie Gramond of La Presse at the helm, panellists were invited to discuss the major issues to watch out for in 2020.
With our expertise underpinned by high quality specialists and dedicated support for our clients and their families, we are proud to share our tradition of excellence with the general public.