December 11, 1997 -- Kitchener, Ontario, Canada.
Penad Pension Services has announced the formation of a strategic alliance with Fidelity Bank and Trust International Limited of the Bahamas.

Fidelity’s Investment Services division has begun working closely with Penad to supply both defined benefit and defined contribution systems to the Caribbean operations of Nassau-area businesses. Penad is also expanding its training facility to accommodate Fidelity employees who require cross-training in international pension issues.

"This alliance expands Penad’s service offering to a new market area," said Louise Brousseau, Executive Vice President of Penad. "We welcome this opportunity to build our network of overseas partners so as to better service the changing needs of our clientele."