Merrill Lynch Banking & Insurance Conference
|
|
- Primrose Sparks
- 6 years ago
- Views:
Transcription
1 Merrill Lynch Banking & Insurance Conference October 8, 2008 London Brady W. Dougan, Chief Executive Officer
2 Cautionary statement Cautionary statement regarding forward-looking and non-gaap information This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of Forward-looking statements involve inherent risks and uncertainties, and we might not be able to achieve the predictions, forecasts, projections and other outcomes we describe or imply in forward-looking statements. A number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates and intentions we express in these forward-looking statements, including those we identify in "Risk Factors" in our Annual Report on Form 20-F for the fiscal year ended December 31, 2007 filed with the US Securities and Exchange Commission, and in other public filings and press releases. We do not intend to update these forward-looking statements except as may be required by applicable laws. This presentation contains non-gaap financial information. Information needed to reconcile such non-gaap financial information to the most directly comparable measures under GAAP can be found in Credit Suisse Group's second quarter report Slide 1
3 Remaining focused in challenging environment Credit Suisse positioned to benefit when markets turn Challenging third quarter operating environment Continue to implement our focused business strategy Positioned to create long-term value and seize opportunities that arise from market dislocation Slide 2
4 Competitive strengths of Credit Suisse s strategy Strong balance sheet strong risk reduction Strong capital position Substantial deposit base Secure funding profile Competitive funding costs Continue to reduce risk exposures Slide 3
5 Competitive strengths of Credit Suisse s strategy Strong balance sheet strong risk reduction Integrated model well suited to new competitive environment Good mix of stability and growth potential Private Banking: strong net new asset flows attracting best talent Investment Banking continues to transform good geographic diversification Greater focus on strengths in Asset Management Continued contribution from integrated bank activities Slide 4
6 Competitive strengths of Credit Suisse s strategy Strong balance sheet strong risk reduction Integrated model well suited to new competitive environment Capitalizing on growth opportunities Strong net new assets in Private Banking Good client flows in Investment Banking Exceptional opportunities to hire new talent Slide 5
7 Volatile market conditions during 3Q08 S&P 500 index 10-day volatility % in 3Q08 10-year average Jul-01 Jul-15 Jul-29 Aug-12 Aug-26 Sep-09 Sep-23 EUR/USD one-month implied volatility CDX investment grade index in basis points % in 3Q08 4-year average Jul-01 Jul-15 Jul-29 Aug-12 Aug-26 Sep-09 Sep-23 DJ AIG commodity index 30-day volatility % in 3Q08 10-year average % in 3Q08 10-year average 7 Jul-01 Jul-15 Jul-29 Aug-12 Aug-26 Sep-09 Sep Jul-01 Jul-15 Jul-29 Aug-12 Aug-26 Sep-09 Sep-23 Source: Bloomberg, all data through September 30, 2008 Slide 6
8 Credit Suisse has maintained strong capital position BIS Tier 1 ratio (Basel II) 10.0% 9.8% 10.2% Strong capital base as competitive advantage Continue to prudently manage our balance sheet, exposures and capital Our Tier 1 ratio of 10.2% makes us one of the best capitalized banks in the world 4Q07 1Q08 2Q08 Slide 7
9 Solid funding structure Asset and liabilities by category CHF bn at end of 2Q08 1,230 1,230 Long-term debt and term CD issuance USD bn CD Long-term debt Full-year long-term debt goal 25 CHF 541 bn Full-year CD goal 11 Assets Capital and liabilities Full year 2007 Year-to-date 2008 Slide 8
10 Funding mix: strong and stable deposit base Debt and deposit funding by type Total: CHF 541bn at end of 2Q08 Retail and private banking deposits CHF bn Adverse exchange rate movements of CHF 14bn Institutional deposits 3) 21% Long-term debt 2) 29% Retail & private banking deposits 1) 50% Q07 2Q07 3Q07 4Q07 1Q08 2Q08 1) Time, demand and saving deposits 2) Structured notes, long-term bonds and subordinated debt 3) Bank deposits, CDs, corporates Slide 9
11 Credit Suisse CDS spreads are at the low end of peers 5-year CDS spreads (senior debt) as of October 3, 2008 Basis points Peer 0 Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Source: Bloomberg Credit Suisse Slide 10
12 Risk management discipline Most rapid reduction of exposures among peers CHF bn (exposures shown gross) Originationbased Tradingbased (exposures shown net) Leveraged finance (76)% Funded Unfunded Commercial mortgages 3Q07 4Q07 1Q08 2Q08 3Q07 4Q07 1Q08 2Q08 Residential mortgages 1) CDO trading (US subprime related) 2) (67)% Q07 4Q07 1Q08 2Q08 Subprime Other Q07 26 (58)% 19 (76)% Q08 2Q08 15 Subprime 1) All non-agency business, including higher quality segments (Alt-A and prime) 2) 2Q08 long positions are CHF 5.2 bn and short positions of CHF 4.1 bn Slide 11
13 Strong, stable balance sheet position Capital Deposit base Funding profile and spreads Asset quality All among the best in the industry Slide 12
14 We benefit from positive long-term growth trends in global Private Banking Long-term growth prospects for wealth managers remain intact Rise of emerging markets Generational transfers of wealth "Private investment banking" We are well positioned to face challenges and outperform competition Global presence and brand Strong balance sheet and capital Unique integrated bank approach Slide 13
15 Private Banking resilient through the cycle Private Banking pre-tax income CHF m 1,381 1,377 1,289 1,324 1,220 Gross margin on AuM in Wealth Mgmt basis points Transaction-based Recurring Q07 3Q07 4Q07 1Q08 2Q08 2Q07 3Q07 4Q07 1Q08 2Q08 AuM = client Assets under Management Slide 14
16 Wealth Management maintains strong NNA growth in 2008 Net new assets (NNA) growth on AuM 6% 8% 7% 6% 7% * * Annualized Net new assets in Wealth Management CHF bn H 1H H08 AuM in Wealth Management CHF bn % CAGR June-08 AuM = client Assets under Management Slide 15
17 Private Banking: ongoing global diversification Continued turnaround and growth in the US Accelerated growth in Western Europe Continued investment in Eastern Europe & Russia India onshore launched China onshore established Mexico onshore in preparation Expanded presence in Brazil (Hedging- Griffo) Gulf: Leverage integrated bank Relationship managers (RMs) at year-end 2,540 3,140 4,100 Japan onshore in preparation Australia onshore launched Goal 2010 Slide 16
18 Private Banking: our flagship franchise Results have shown resilience despite market dislocation Strong asset gathering and hiring trends across all regions Continue to invest in business and implement international growth strategy Private Banking offers unique growth prospects within the financial services industry Slide 17
19 Investment Banking strategy in the new environment Ongoing diversification of revenues leading to reduction in volatility Continued focus on diversifying business and increasing client-based revenues progress in equity cash, prime services and equity derivatives Increasing capital efficiency and reducing risk capital down 15 percent from the end of 2007 Continued focus on efficiency and expense management We will continue to aggressively and dynamically transform the business model Slide 18
20 Growth of less correlated and innovative businesses Prime services quarterly revenue growth +68% Equity derivatives quarterly revenue growth +7% 2Q07 3Q07 4Q07 1Q08 2Q08 Electronic trading quarterly revenue growth 2Q07 3Q07 4Q07 1Q08 2Q08 Life finance quarterly revenue growth +47% +201% 2Q07 3Q07 4Q07 1Q08 2Q08 2Q07 3Q07 4Q07 1Q08 2Q08 Slide 19
21 Reallocation of headcount to less correlated growth businesses Correlation of revenues 1) High Med. High High Low Med. Med. Low % change in headcount from 2Q07 to 2Q08 (68%) RMBS (52%) CDOs (40%) CMBS (23%) Lev. Finance Prime Svcs. 12% Equity Derivs. 27% Commodities 57% Life Finance 102% 1) Based on historic results and long-term expectations Slide 20
22 Focus on growing client revenues Client revenues from 1Q06 to 2Q08 +39% 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 Client revenues = Estimates of the client-related value inherent in trading and sales transactions as well as fees and other amounts which can be directly associated with client activity. Slide 21
23 Market dislocation has created opportunities Example: Significant market share increase in RMBS agency business US mortgage-backed securities Residential Federal Credit Agencies 2007 Volume Market Company (USD bn) Rank share (%) JP Morgan Chase Lehman Brothers Merrill Lynch Morgan Stanley RBS Credit Suisse Banc of America Citigroup UBS Deutsche Bank Year-to-date 2008 Volume Market Company (USD bn) Rank share (%) Credit Suisse JP Morgan Chase Barclays Capital Lehman Brothers Merrill Lynch RBS Banc of America Deutsche Bank Citigroup UBS Source: Thomson Financial Slide 22
24 Rebalancing Investment Banking ERC ERC change by business from year-end 2007 to June 30, 2008 % change from year-end % -9.9% (15)% ERC = Economic Risk Capital -7.4% -2.0% -1.6% -1.2% +2.8% +1.5% +0.2% +2.2% 2007 LevFin CMBS Prop Trading CDOs ABS / Conduits Comm. Equity Derivatives Life Finance Other June 08 Slide 23
25 Credit Suisse Investment Banking headcount amongst the lowest in peer group Investment Banking headcount at 30 June 2007 Investment Banking headcount at 30 June ,000 30,000 25,000 Peer average 25,000 Peer average 20,000 20,000 15,000 15,000 10,000 10,000 5,000 5,000 0 CS Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 0 Peer 1 CS Peer 3 Peer 6 Peer 5 Peer 4 Peer 2 Peer 7 Note: Based on Credit Suisse estimates Slide 24
26 Disciplined cost management in Investment Banking Other operating expenses General & Administration expenses per head 1) CHF m CHF 000's 2,286 2,178 1) 2, (5)% 1) 149 (13)% 6M07 6M08 6M07 6M08 1) Excluding net litigation credit of CHF 134 m in 2Q08 Slide 25
27 Investment Banking strategy in the new environment Long standing strategy to reduce volatility Diversifying revenues and increasing client-based revenues Increasing capital efficiency and reducing ERC Continued focus on efficiency and expense management We will continue to aggressively and dynamically transform the business model Slide 26
28 Continued geographic diversification Credit Suisse 2007 net revenues by region 1) Global Footprint in CHF bn and up/down in % vs % +15% 9.6bn 10.4bn 4.0bn +23% 11.1bn +11% Switzerland APAC Americas EMEA Russia Ukraine Czech Republic Wroclaw Frankfurt Toronto Zurich Montreal London Paris San Francisco Boston Milan Los Angeles Chicago Irvine New York Madrid Atlanta Dallas Miami Houston Nassau Monterrey Cayman Islands Mexico City Bogotá Santiago Rio de Janeiro São Paulo Montevideo Buenos Aires Kazakhstan South Africa Beijing Shanghai Hong Kong Bangkok Karachi New Philippines U.A.E. Delhi Mumbai Malaysia Qatar Singapore Kuala Lumpur Jakarta Perth Tokyo Sydney Melbourne APAC = Asia / Pacific, EMEA = Europe, Middle East and Africa 1) Based on Core Results before Corporate Center Slide 27
29 Continue to focus on achieving integration benefits; 2010 target collaboration revenues of over CHF 10 bn Core and collaboration revenues Collaboration revenues share (%) 1) CHF bn Core revenues 1) (different scale) Collaboration revenues % 16% 15% 16% M08 1) Excludes valuation reductions and fair value gains/losses on own debt of total CHF 3.0 bn and CHF 5.4 bn in 2007 and 1H08, respectively Avg. qtr 2006 Avg. qtr Q08 2Q08 Slide 28
30 Competitive strengths of Credit Suisse s strategy Strong balance sheet good risk reduction Business model well suited to new competitive environment Capitalizing on growth opportunities Positioned to create long-term value and seize opportunities that arise from market dislocation Slide 29
31 Slide 30
Sal. Oppenheim European Financial Conference
Sal. Oppenheim European Financial Conference Zurich November 20, 2007 Renato Fassbind, Chief Financial Officer Cautionary statement Cautionary statement regarding forward-looking and non-gaap information
More informationPrivate Banking Investor Day Americas. Anthony DeChellis, Head PB Americas. Zurich, September 22, 2009
Private Banking Investor Day 2009 Americas Anthony DeChellis, Head PB Americas Zurich, September 22, 2009 Cautionary statement Cautionary statement regarding forward-looking and non-gaap information This
More informationPrivate Banking Update
Private Banking Update Citigroup Swiss Private Banking Roundtable Zurich, September 9, 2008 Martin Mende, Private Banking Head of Business Development Cautionary statement Cautionary statement regarding
More informationGoldman Sachs European Financials Conference Panel: Adapting the model: The originate and distribute model of the future
Goldman Sachs European Financials Conference Panel: Adapting the model: The originate and distribute model of the future Berlin, Germany June 12, 2008 David Mathers, Head of IB Finance Cautionary statement
More informationSecond Quarter Results 2007
Second Quarter Results 2007 Zurich August 2, 2007 Brady W. Dougan, CEO Renato Fassbind, CFO Cautionary statement Cautionary statement regarding forward-looking and non-gaap information This presentation
More informationPresentation at Bank of America Merrill Lynch Banking & Insurance Conference
Presentation at Bank of America Merrill Lynch Banking & Insurance Conference Brady W. Dougan, Chief Executive Officer Credit Suisse London, October 1, 2009 Cautionary statement Cautionary statement regarding
More informationSecond Quarter Results 2009
Second Quarter Results 2009 Zurich July 23, 2009 Cautionary statement Cautionary statement regarding forward-looking and non-gaap information This presentation contains forward-looking statements within
More informationMorgan Stanley Financial Services Conference
Morgan Stanley Financial Services Conference Managing for value in an uncertain economic and regulatory environment David Mathers, Chief Operating Officer, Investment Bank London March 23, 2010 Cautionary
More informationDevelopment of the Client-Focused, Capital-Efficient Business Model
Development of the Client-Focused, Capital-Efficient Business Model David Mathers, Chief Operating Officer, Investment Bank at the UBS Financial Services Conference, New York, May 12, 2010 Cautionary statement
More informationDeutsche Bank Roadshow Dr. Josef Ackermann
Deutsche Bank Roadshow Dr. Josef Ackermann Chief Executive Officer Paris / London / Zürich, 10 14 September 2007 Agenda 1 Putting recent market dislocations into context 2 1H2007 performance 3 Strengthened
More informationZoe Cruz, Co-President Colm Kelleher, Chief Financial Officer
Merrill Lynch Banking & Financial Services Investor Conference Zoe Cruz, Co-President Colm Kelleher, Chief Financial Officer November 13, 2007 Notice The information provided herein may include certain
More informationPresentation to Investors and Analysts
Fourth Quarter and Full Year 2016 Results Presentation to Investors and Analysts February 14, 2017 Disclaimer (1/2) The data presented in this presentation relating to the Swiss Universal Bank refers to
More informationInvestor Presentation
Investor Presentation May 2013 48,000 employees 200 offices 70 countries 1 global platform Table of Contents I. Company Description II. Global Growth Strategy III. Financial Overview IV. Appendix 2 Company
More informationSecond Quarter Results 2010
Zurich July 22, 2010 Cautionary statement Cautionary statement regarding forward-looking and non-gaap information This presentation contains forward-looking statements within the meaning of the Private
More informationMay Global Growth Strategy
May 2012 Global Growth Strategy Jones Lang LaSalle Global Growth Strategy G1 G3 Build our local and regional leasing and capital markets businesses G5 Connections Capture the leading share of global capital
More informationGoldman Sachs 10 th Annual European Financials Conference
Goldman Sachs 10 th Annual European Financials Conference Barcelona June 9, 2006 Walter Berchtold, CEO Private Banking Disclaimer Cautionary statement regarding forward-looking information This presentation
More informationCredit Suisse Group reports record income from continuing operations of CHF 8.5 billion for 2007
CREDIT SUISSE GROUP Paradeplatz 8 P.O. Box CH-8070 Zurich Switzerland Telephone +41 844 33 88 44 Fax +41 44 333 88 77 media.relations@credit-suisse.com Media release Credit Suisse Group reports record
More informationMorgan Stanley European Financials Conference
As announced on March 24, 2017, we updated our previously reported unaudited financial results for 4Q16 and 2016. This revised presentation has been updated to reflect changes to assets under management
More informationGlobal. Real Estate Outlook. Jeremy Kelly Global Research. David Green-Morgan Global Capital Markets Research
Global Real Estate Outlook Jeremy Kelly Global Research David Green-Morgan Global Capital Markets Research Ben Breslau Director of Research, Americas 7 th February 2013 Global Real Estate Outlook Road
More informationSupplemental Information Fourth Quarter 2011 Earnings Call
Supplemental Information Fourth Quarter 2011 Earnings Call Market & Financial Overview Capital Values Q4 2010 Shanghai, Washington DC, London Singapore Q4 2011 Hong Kong Shanghai Beijing Milan, New York
More informationSecond Quarter 2014 Results
Second Quarter 2014 Results Presentation to Investors Disclaimer Cautionary statement regarding forward-looking statements This presentation contains forward-looking statements that involve inherent risks
More informationCredit Suisse Financial Services Forum 2009
Credit Suisse Financial Services Forum 2009 Naples, Florida February 4, 2009 Brady W. Dougan, CEO Credit Suisse Cautionary statement Cautionary statement regarding forward-looking and non-gaap information
More informationFranklin Templeton Investments Our Global Perspective
Greg Johnson Chief Executive Officer Franklin Resources, Inc. Franklin Templeton Investments Our Global Perspective Dealer Use Only / Not for Distribution to the Public World-Class Investment Management
More informationMorgan Stanley 11th Annual European Financials Conference
Morgan Stanley 11th Annual European Financials Conference London, UK Charlotte Jones, Head of Group Finance Disclaimer Cautionary statement regarding forward-looking statements This presentation contains
More informationGlobal Real Estate Outlook
Global Real Estate Outlook Jeremy Kelly Global Research David Green-Morgan Global Capital Markets Research 7 August 2014 Global Real Estate Market Outlook Jeremy Kelly Director, Global Research Jeremy.Kelly@eu.jll.com
More informationInvestor Presentation. 53,000 employees, 200 offices, 75 countries, 1 global platform
Investor Presentation 53,000 employees, 200 offices, 75 countries, 1 global platform December 2014 Who we are JLL is a leading provider of real estate services and investment management, creating value
More informationPresentation at the: Helvea Swiss Equities Conference 2010
Presentation at the: Helvea Swiss Equities Conference 2010 Renato Fassbind, Chief Financial Officer Credit Suisse Bad Ragaz, January 14, 2010 Cautionary statement Cautionary statement regarding forward-looking
More informationFourth Quarter and Full Year 2014 Results
Fourth Quarter and Full Year 2014 Results Presentation to Investors February 12, 2015 Disclaimer Cautionary statement regarding forward-looking statements This presentation contains forward-looking statements
More informationMerrill Lynch Banking & Insurance Conference Strategy 2010, Thoughts on the next 5 years London, October 5, 2005
Merrill Lynch Banking & Insurance Conference Strategy 2010, Thoughts on the next 5 years London, October 5, 2005 Oswald J. Gruebel Chief Executive Officer Credit Suisse Group DISCLAIMER Cautionary statement
More informationIT ONLY TAKES ONE INDEX TO CAPTURE THE WORLD THE MODERN INDEX STRATEGY. msci.com
IT ONLY TAKES ONE INDEX TO CAPTURE THE WORLD THE MODERN INDEX STRATEGY msci.com MSCI DELIVERS THE MODERN INDEX STRATEGY The MSCI ACWI Index, MSCI s flagship global equity benchmark, is designed to represent
More informationDeutsche Bank Michael Cohrs Head of Global Banking Member of the Group Executive Committee
Deutsche Bank Michael Cohrs Head of Global Banking Member of the Group Executive Committee UBS Global Financial Services Conference New York, 14 May 2008 Agenda 1 Deutsche Bank Group 2 Global Banking 3
More informationFourth Quarter and Full-Year Results 2009
Fourth Quarter and Full-Year Results 2009 Zurich Presentation to Investors and Analysts February 11, 2010 Cautionary statement Cautionary statement regarding forward-looking and non-gaap information This
More informationInvestor Presentation. 53,000 employees, 200 offices, 75 countries, 1 global platform
Investor Presentation 53,000 employees, 200 offices, 75 countries, 1 global platform August 2014 Who we are JLL is a leading provider of real estate services and investment management, creating value for
More informationInternational Wealth Management. Philipp Wehle, Head Finance, International Wealth Management May 16, 2018
International Wealth Management Philipp Wehle, Head Finance, International Wealth Management May 16, 2018 Disclaimer This material does not purport to contain all of the information that you may wish to
More informationFourth Quarter and Full-Year 2011 Results Presentation to Investors and Analysts. February 9, 2012
Fourth Quarter and Full-Year 2011 Results Presentation to Investors and Analysts February 9, 2012 Disclaimer Cautionary statement regarding forward-looking statements This presentation contains forward-looking
More informationSchroders. KBW European Financials Conference. Massimo Tosato Vice Chairman. 17 September trusted heritage advanced thinking
Schroders KBW European Financials Conference Massimo Tosato Vice Chairman trusted heritage advanced thinking 17 September 2008 Schroders plc Overview Independent Exclusive focus on asset management Global
More informationUBS Conference. May 14, 2007
UBS Conference May 14, 2007 Notice The information provided herein may include certain non-gaap financial measures. The reconciliation of such measures to the comparable GAAP figures are included in the
More informationMorgan Stanley Asia: Overview
Morgan Stanley Asia: Overview July 2007 Notice The information provided herein may include certain non-gaap financial measures. The reconciliation of such measures to the comparable GAAP figures are included
More informationLOOKING TO EXPAND YOUR INVESTMENT HORIZON? THE MODERN INDEX STRATEGY. msci.com
LOOKING TO EXPAND YOUR INVESTMENT HORIZON? THE MODERN INDEX STRATEGY msci.com MSCI DELIVERS THE MODERN INDEX STRATEGY The MSCI Emerging Markets Index is designed to represent the performance of large-
More informationPresentation at Morgan Stanley European Financials Conference
Presentation at Morgan Stanley European Financials Conference David Mathers, Chief Financial Officer London, March 30th, 2011 Cautionary statement Cautionary statement regarding forward-looking and non-gaap
More information2016 FULL YEAR RESULTS. February 28th, 2017
2016 FULL YEAR RESULTS February 28th, 2017 INTRODUCTORY MATERS Forward-Looking Information This document contains certain forward-looking statements which speak only as of the date on which they are made.
More informationInvestor Day 2005 Wealth Management & Business Banking
Investor Day 2005 Wealth Management & Business Banking Friday 13 May, 2005 Marcel Rohner, Chairman & CEO You & Us The Making of UBS-WM&BB Merger of two separate divisions into one powerful business group
More informationSupplemental Information Second-Quarter 2013 Earnings Call
Supplemental Information Second-Quarter 2013 Earnings Call Market & Financial Overview Q2 Capital Markets & Leasing Markets Volumes Strong Q2 for Capital Markets Q2 2013 v. Q2 2012 Market Volumes Capital
More informationINVEST WITH A GLOBAL LEADER
INVEST WITH A GLOBAL LEADER Since 1947, our firm has been dedicated to delivering exceptional asset management for our institutional, retail, and high-net-worth clients. By bringing together multiple,
More informationTrade Risk Mitigation. Michelle Hui Managing Director Head of Trade and Supply Chain Finance - APAC BNY Mellon
Trade Risk Mitigation Michelle Hui Managing Director Head of Trade and Supply Chain Finance - APAC BNY Mellon BNY Mellon Global Footprint BNY Mellon s global presence comprises a large network of branches,
More informationOpportunities for Action in Financial Services. Crafting New Approaches to Offshore Markets
OffshoreMarkets 12/8/03 2:55 PM Page 1 Opportunities for Action in Financial Services Crafting New Approaches to Offshore Markets Crafting New Approaches to Offshore Markets The European offshore-wealth
More informationwatsonwyatt.com Compensation Discussion and Analysis Scorecard
Compensation Discussion and Analysis Scorecard The Securities and Exchange Commission s (SEC) proxy disclosure rules, effective for 2007 proxy filings, require extremely detailed and complicated disclosures
More informationTARGET A MORE PRECISE OUTCOME. Franklin Target Return Fund
TARGET A MORE PRECISE OUTCOME Franklin Target Return Fund A TRANSFORMATIVE EVENT The investment world changed in 2008 and 2009. In a brief period of time, the Global Financial Crisis wiped out trillions
More informationSupplemental Information Earnings Call
Supplemental Information Earnings Call Fourth-Quarter 2015 Market volume & outlook JLL Research Investment volumes remain solid; outlook steady Market Volumes Actual Forecast Capital Markets (1) LC USD
More informationReal Estate Investment Beyond(?) the Global Credit Crisis
Real Estate Investment Beyond(?) the Global Credit Crisis James Valente (james.valente@ipd.com) Director, North America November 29 th 2011 2011 ipd.com Overview Variation in regional trends Global investment
More informationDeutsche Bank Dr. Josef Ackermann
Deutsche Bank Dr. Josef Ackermann Chairman of the Management Board Tokyo, 20 February 2007 Agenda 1 Outstanding performance in 2006 2 Strengthened strategic positions 3 Phase 3 of our Management Agenda
More informationBank am Bellevue Bellevue meets Management Seminar Zurich, January 13, Walter Berchtold Chief Executive Officer Credit Suisse
Bank am Bellevue Bellevue meets Management Seminar Zurich, January 13, 2005 Walter Berchtold Chief Executive Officer Credit Suisse DISCLAIMER Cautionary Statement regarding forward-looking information
More informationMorgan Stanley 10th Annual European Financials Conference
Morgan Stanley 10th Annual European Financials Conference London, UK Charlotte Jones, Head of Group Finance March 25, 2014 Disclaimer Cautionary statement regarding forward-looking statements This presentation
More informationDeutsche Bank. Dr. Josef Ackermann Chairman of the Management Board. San Francisco / San Diego / Denver / Chicago July 2008
Deutsche Bank Dr. Josef Ackermann Chairman of the Management Board San Francisco / San Diego / Denver / Chicago 10-15 July 2008 Agenda 1 Solid performance in challenging times 2 Strategy: Staying the course
More informationCredit Suisse 13th Annual Financial Services Forum
Credit Suisse 13th Annual Financial Services Forum Miami, Florida Brady W. Dougan, Chief Executive Officer, Credit Suisse Disclaimer Cautionary statement regarding forward-looking statements This presentation
More informationFirst Quarter 2012 Results
First Quarter 2012 Results Presentation to Investors and Media April 25, 2012 Disclaimer Cautionary statement regarding forward-looking statements This presentation contains forward-looking statements
More informationUBS Investor Day 2004 Fixed Income, Rates & Currencies. Michael Hutchins, Global Head of FIRC
UBS Investor Day 24 Fixed Income, Rates & Currencies Michael Hutchins, Global Head of FIRC Diversified group of businesses Fixed Income, Rates & Currencies Fixed Income Rates FX, Cash & Collateral Trading
More informationSmith Barney Citigroup Financial Services Conference New York, January 26, 2005
Smith Barney Citigroup Financial Services Conference New York, January 26, 2005 Brady Dougan Chief Executive Officer, Credit Suisse First Boston Member of the Executive Board, Credit Suisse Group DISCLAIMER
More informationBank of America Merrill Lynch The Future of Financials Conference. November 6, Citi Investor Relations
Citi Investor Relations Bank of America Merrill Lynch The Future of Financials Conference November 6, 2018 Francisco Aristeguieta CEO, Citigroup Asia Pacific Agenda Franchise Overview Asia Institutional
More informationInternational Wealth Management presenting at the Deutsche Bank Global Financial Services Conference
International Wealth Management presenting at the Deutsche Bank Global Financial Services Conference Iqbal Khan CEO International Wealth Management New York Disclaimer This material does not purport to
More informationFourth Quarter and Full-Year 2012 Results
As announced on March 14, 2013, certain Credit Suisse Group entities have entered into agreements with bond investors of affiliates of National Century Financial Enterprises, Inc. (NCFE) to end all bond
More informationPresentation to Investors and Analysts
First Quarter 2018 Results Presentation to Investors and Analysts April 25, 2018 Disclaimer This material does not purport to contain all of the information that you may wish to consider. This material
More informationCredit Suisse 14 th Annual Financial Services Forum
Credit Suisse 14 th Annual Financial Services Forum Miami, Florida Tim O Hara, Co-head of Global Securities, Credit Suisse Disclaimer Cautionary statement regarding forward-looking statements This presentation
More informationWilliam Blair Growth Stock Conference
June 2012 William Blair Growth Stock Conference..45,500 employees.200 offices.70 countries.1 global platform... Leading Brand Well Positioned for Growth Market Trends Emerging markets to lead global expansion
More informationINVESTOR PRESENTATION
INVESTOR PRESENTATION December 18, 2018 Mark Harris, Chief Financial Officer Julie Creed, VP, Real Estate & Investor Relations 0 1 SAFE HARBOR STATEMENT Our presentation may contain forward-looking statements.
More informationDeutsche Bank. Dr. Josef Ackermann Chairman of the Management Board. Boston and New York, March 2008
Deutsche Bank Dr. Josef Ackermann Chairman of the Management Board Boston and New York, 11-12 March 2008 Agenda 1 : Solid in challenging times 2 4Q in detail 3 Management Agenda Phase 3 4 Appendix Investor
More informationUBS Global Financial Services Conference New York, May 9, 2005
UBS Global Financial Services Conference New York, May 9, 2005 Brady Dougan Chief Executive Officer, Credit Suisse First Boston Member of the Executive Board, Credit Suisse Group DISCLAIMER Cautionary
More informationFourth Quarter and Full-Year 2010 Results
Fourth Quarter and Full-Year 2010 Results Zurich - Presentation to Investors and Analysts February 10, 2011 Cautionary statement Cautionary statement regarding forward-looking and non-gaap information
More informationSwiss Alpine Summit Gstaad January 20, Renato Fassbind Chief Financial Officer Credit Suisse Group
Swiss Alpine Summit Gstaad January 20, 2005 Renato Fassbind Chief Financial Officer Credit Suisse Group DISCLAIMER Cautionary Statement regarding forward-looking information This presentation contains
More informationSupplemental Information Earnings Call Third-Quarter 2015
Supplemental Information Earnings Call Third-Quarter 2015 Q3 2015 Market Volume & Outlook JLL Research Investment Volumes Remain Strong; Outlook Steady Market Volumes Capital Markets (1) (in USD) Americas
More informationAXA. Henri de Castries. Chairman & CEO. London - October 2, Sanford C. Bernstein Strategic Decisions Conference
AXA Henri de Castries Chairman & CEO London - October 2, 2013 Sanford C. Bernstein Strategic Decisions Conference Cautionary note concerning forward-looking statements Certain statements contained herein
More informationAberdeen Asset Management
Aberdeen Asset Management Interim results to 31 March 2017 Martin Gilbert, Chief Executive and Bill Rattray, Finance Director 2 May 2017 Financial highlights 1H 2016 2H 2016 1H 2017 Operating margin 32.2%
More informationCredit Suisse Group reports net income of CHF 1.6 billion in the second quarter of 2009; return on equity of 17.5%; tier 1 ratio of 15.
CREDIT SUISSE GROUP AG Paradeplatz 8 Telephone +41 844 33 88 44 P.O. Box Fax +41 44 333 88 77 CH-8070 Zurich media.relations@credit-suisse.com Switzerland Credit Suisse Group reports net income of CHF
More informationSupplemental Information Fourth Quarter 2016 Earnings Call
Supplemental Information Fourth Quarter 2016 Earnings Call February 6, 2017 Global market overview 2016 Macro-economic operating environment Slow global economic growth; 3% estimated GDP growth weakest
More informationPatterns of Global Capital Flow
Patterns of Global Capital Flow Real Estate Capital Flows (from one continent to another) have been more than $100 billion in each of the last three years North America was the largest source of cross-regional
More informationCitigroup Inc. (Exact name of registrant as specified in its charter)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended
More information2Q12 Results Highlights & Capital Actions
2Q12 Results Highlights & Capital Actions Presentation to Investors and Media Disclaimer Cautionary statement regarding forward-looking statements This presentation contains forward-looking statements
More informationCredit Suisse Third Quarter 2018 Results
Credit Suisse Third Quarter 2018 Results Tidjane Thiam, Chief Executive Officer David Mathers, Chief Financial Officer Disclaimer This material does not purport to contain all of the information that you
More informationGrowing Revenue with a Superior Balance Sheet
May 24, 2011 Growing Revenue with a Superior Balance Sheet Presented by: Todd Gibbons Vice Chairman & CFO Nomura North America Investor Day 2011 Cautionary Statement A number of statements in our presentations,
More informationNEUBERGER BERMAN Environmental, Social and Governance Policy
NEUBERGER BERMAN Environmental, Social and Governance Policy SEPTEMBER 2017 OUR FIRM Founded in 1939, Neuberger Berman is a private, 100% independent, employee-owned investment manager. From offices in
More informationAgenda. Introduction. Securities Strategy. Capital and Risk Management. Environment and Priorities
Philip J. Purcell, Chairman and Chief Executive Officer Stephen S. Crawford, Co-President Zoe Cruz, Co-President David H. Sidwell, Chief Financial Officer May 10, 2005 Notice The information provided herein
More informationStrategic Update. James P. Gorman, Chairman and Chief Executive Officer January 18, 2018
Strategic Update James P. Gorman, Chairman and Chief Executive Officer January 18, 2018 Notice The information provided herein may include certain non-gaap financial measures. The reconciliation of such
More informationDeutsche Bank Global Financial Services Conference
Deutsche Bank Global Financial Services Conference Brady W. Dougan, Chief Executive Officer June 4, 2013 Continued successful delivery of high-returning business model 1 Improved underlying results Strong
More informationDeutsche Bank. Chief Financial Officer. Frankfurt / New York / Boston / The Netherlands 3 7 November 2008
Deutsche Bank Stefan Krause Chief Financial Officer Frankfurt / New York / Boston / The Netherlands 3 7 November 2008 Agenda 1 Third quarter 2008 results 2 Key current issues 3 Risk and capital management
More informationReasons why: Emerging market (EM) corporate bonds
Reasons why: Emerging market (EM) corporate bonds February 2017 Low yield in developed market bonds can pose a significant challenge for fixed-income investors. This has forced many investors to move down
More informationUBS Investor Day 2004 UBS Investment Bank: Delivering Success. John Costas, Chairman and CEO
UBS Investor Day 2004 UBS Investment Bank: Delivering Success John Costas, Chairman and CEO 1 UBS Investment Bank success to date SECTION 1 Our winning strategy UBS Investment Bank is fully committed to
More informationMorgan Stanley European Financials Conference. Tidjane Thiam, CEO Credit Suisse. March 22, 2018
Morgan Stanley European Financials Conference Tidjane Thiam, CEO Credit Suisse Disclaimer This material does not purport to contain all of the information that you may wish to consider. This material is
More informationGoldman Sachs European Financials Conference 2007
Goldman Sachs European Financials Conference 2007 Lisbon June 14, 2007 Renato Fassbind Chief Financial Officer Cautionary statement Cautionary statement regarding forward-looking and non-gaap information
More information2007 Full Year Review Dr. Josef Ackermann
2007 Full Year Review Dr. Josef Ackermann Chairman of the Management Board Frankfurt, 7 February 2008 A year of solid performance in challenging times In EUR bn Revenues Profit 8% 5% 28.5 30.7 8.3 8.7
More informationRetail: Competing in the New World J.P. Morgan UK Financials Conference Wednesday, 8 December 2010
Retail: Competing in the New World J.P. Morgan UK Financials Conference Wednesday, 8 December 2010 James Cardew Global Head of Marketing Schroders plc Agenda Schroders Global business Schroders UK intermediary
More informationAsia Update. April 26, 2005
Asia Update April 26, 2005 Notice This presentation is based on or derived from information generally available to the public and does not contain any material, nonpublic information. No representation
More informationIPD Global Annual Property Index launch 15 April 2013
IPD Global Annual Property Index launch 1 April 213 213 Investment Property Databank Ltd. All rights reserved. ipd.com 1 IPD Global Annual Property Index launch Presenters and panel members Presenters
More informationDAVID HUNT PRESIDENT & CEO PGIM
DAVID HUNT PRESIDENT & CEO PGIM KEY MESSAGES PGIM is strongly positioned as a diversified global active asset manager with a distinct multi-manager model Our business has robust underlying fundamentals
More informationNORTHERN TRUST CORPORATION
NORTHERN TRUST CORPORATION Steven L. Fradkin Executive Vice President & Chief Financial Officer Merrill Lynch Banking & Financial s Conference New York City November 13, 2008 2008 Northern Trust Corporation
More informationConsolidated Statement of Financial Condition May 30, 2003
Consolidated Statement of Financial Condition May 30, 2003 Goldman, Sachs & Co. Established 1869 New York Hong Kong London Tokyo Atlanta Baltimore Bangkok Beijing Bermuda Boston Buenos Aires Calgary Chicago
More informationGlobal Real Estate Investments Opportunities and Risks in the Late Stage of the Cycle. Wolfgang Kubatzki, Managing Director, Scope Investor Services
Global Real Estate Investments Opportunities and Risks in the Late Stage of the Cycle Wolfgang Kubatzki, Managing Director, Scope Investor Services Global Real Estate Investments Current Situation Structural
More informationDeutsche Bank Stefan Krause
Deutsche Bank Stefan Krause Chief Financial Officer Goldman Sachs European Financials Conference Frankfurt, 5 June 2009 Agenda 1 Strength through the crisis 2 Well positioned to stay strong 3 and emerge
More informationWatson Wyatt Worldwide Fiscal 2007 Presentation
watsonwyatt.com Watson Wyatt Worldwide Fiscal 2007 Presentation Forward-looking statements Forward looking statements During the course of this presentation, management may make forward-looking statements,
More informationCredit Suisse Group reports 2009 net income of CHF 6.7 billion, return on equity of 18.3%, net new assets of CHF 44.2 billion, tier 1 ratio of 16.
CREDIT SUISSE GROUP AG Paradeplatz 8 Telephone +41 844 33 88 44 P.O. Box Fax +41 44 333 88 77 CH-8070 Zurich media.relations@credit-suisse.com Switzerland Media Release Credit Suisse Group reports 2009
More informationCitigroup Financial Services Conference
Citigroup Financial Services Conference James P. Gorman, Co-President Colm Kelleher, Chief Financial Officer January 28, 2009 Notice The information provided herein may include certain non-gaap financial
More information