Morneau Sobeco Income Fund
TSX : MSI.UN

Morneau Sobeco Income Fund

May 12, 2008 15:28 ET

Morneau Sobeco and Sibson Consulting Announce Strategic Alliance

- Strategic alliance expected to bring broad array of services to clients of both organizations - Both firms looking forward to increased collaboration on benefits consulting and administration outsourcing in the U.S.

TORONTO, ONTARIO--(Marketwire - May 12, 2008) - The Board of Trustees of Morneau Sobeco Income Fund (the "Fund") (TSX:MSI.UN) announced today that it has entered into a strategic alliance with Sibson Consulting, the human resource consulting division of The Segal Company. This announcement reflects the goal of Morneau Sobeco, a Canadian leader in employee benefits consulting and administrative solutions, to strengthen its presence in the U.S. market through alliances with firms offering complementary services.

"Through this alliance, Morneau Sobeco will be able to offer benefits and human resource consulting solutions to its U.S. clients, and provide enhanced outsourcing solutions to Sibson's client base," stated William Morneau, Chairman and CEO of Morneau Sobeco.

"This is an exciting opportunity for both organizations, as it truly makes both firms better equipped to service their client base and, therefore, more valuable to their clients," added Joseph A. LoCicero, President & CEO of The Segal Company.

Morneau Sobeco and Sibson will collaborate on their respective client mandates and will pursue new joint business opportunities. Sibson will be able to turn to Morneau Sobeco to offer employee benefits administration outsourcing services to its clients in the U.S. who prefer a bundled consulting and outsourcing solution. Likewise, Morneau Sobeco will refer U.S. consulting mandates to Sibson. Morneau Sobeco and Sibson will join resources to offer integrated pension and health and welfare consulting and administration outsourcing services in the U.S market.

"Morneau Sobeco' s position as a leader in the field of outsourced pension and benefits administration complements Sibson' s expertise in benefits consulting and enables both firms to provide clients with a complete spectrum of services through one contact point," commented Daniel G. Fries, Senior Vice President and Leader of Sibson Consulting.

About Morneau Sobeco

Morneau Sobeco (www.morneausobeco.com) is the largest Canadian-owned pension and benefits consulting and outsourcing firm, providing services to organizations across Canada and in the United States. With over 1,200 employees in offices in 12 cities across North America, Morneau Sobeco has focused on the integrated design and delivery of pension and benefit plans for over 40 years.

About Sibson Consulting

Sibson Consulting (www.sibson.com), a Division of Segal, provides strategic human resource solutions to corporate and non-profit employers. Sibson's services include benefits, compensation, talent and performance management, communications, sales force effectiveness, and change management.

About The Segal Company

The Segal Company (www.segalco.com) has been a leading, independent firm of benefit, compensation and human resource consultants since its founding in 1939. Segal is headquartered in New York and has more than 900 employees throughout the U.S. and in Canada. Clients include corporations, non-profit organizations, professional service firms, state and local governments and joint boards of trustees administering pension and health and welfare plans under the Taft-Hartley Act.

Contact Information

  • For further investor information:
    Morneau Sobeco Income Fund
    William Morneau
    Chairman & CEO
    416-445-2700
    or
    For media or client enquiries:
    The Segal Company & Sibson Consulting
    Mary L. Feldman
    SVP, Director of Public Affairs
    212-251-5029
    mfeldman@segalco.com
    or
    Morneau Sobeco
    Andre Pinsonneault
    Director, Corporate Communications
    416-383-6499
    apinsonneault@morneausobeco.com