Carl Bayard

CARL BAYARD joined Desjardins Securities in April 2002. He has four
years of experience in the investment industry, having spent more than
two years as a Media and Communications analyst at MGP Media Asset
Management, a boutique investment firm providing independent third-party
research on the media industry. Mr. Bayard holds a Bachelor of Commerce
degree from McGill University. He received his CFA designation in 2002.