Sal. Oppenheim European Financial Conference
|
|
- Peregrine Atkinson
- 6 years ago
- Views:
Transcription
1 Sal. Oppenheim European Financial Conference Zurich November 20, 2007 Renato Fassbind, Chief Financial 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, 2006 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 third quarter report Slide 2
3 Credit Suisse: record nine-month performance but third quarter results affected by market environment CHF m, except where indicated 3Q07 Change in % vs. 3Q06 9M07 Change in % vs. 9M06 Net revenues 1) 6,020 (19) 28, Total operating expenses 1) 4,733 (16) 19,410 9 Income from continuing operations before taxes 1) 1,283 (30) 8, Net income 1,302 (31) 7,220 9 Diluted EPS from 1.18 (9) continuing operations in CHF 3Q07 3Q06 9M07 9M06 Return on equity 12.4% 18.9% 22.5% 21.7% Cost/income ratio 1) 78.6% 75.9% 68.4% 71.1% 1) for Core Results, i.e. excluding results from minority interests without significant economic interest Slide 3
4 Record nine-month results in Investment Banking and Private Banking Pre-tax income CHF m 4'498 4'109 9M06 9M07 1) +43% +19% 2) (2)% 601 Investment Banking Private Banking Asset Management Pre-tax income margin in % ) Excluding credits received from insurance settlements for litigation costs of CHF 474 m 2) Excluding business realignment costs of CHF 192 m Slide 4
5 Maintained efficiency trends in nine-month 2007 Cost/income ratio %, based on Core Results M06 9M M06 9M07 IB PB AM Core Results 1) 2) 3) 2) 3) 2) 3) 1) Excluding charge to increase the reserve for private litigation of CHF 960 m and charge of CHF 630 m for change in accounting for share-based compensation 2) 9M06 excluding credits received from insurance settlements for litigation costs of CHF 474 m 3) 9M06 excluding business realignment costs of CHF 192 m Slide 5
6 Investment Banking breakeven in 3Q, but record ninemonths Pre-tax income CHF m 1) 3, % 4, ,502 6 Comments Results significantly affected by the market dislocation Valuation reduction on leveraged loan commitments of CHF 1.1 bn 2) Valuation reduction on structured products of CHF 1.1 bn 2) Poor performance in equity proprietary trading, primarily in quantitative strategies 9M06 9M07 3Q06 2Q07 3Q07 Record nine-month revenues and pre-tax income Pre-tax income margin in % ) Excluding CHF 474 m of credits received from insurance settlements for litigation and related costs 2) Net of fees and hedges Slide 6
7 Market conditions and outlook 1/3 Residential mortgages Global RMBS origination volumes (in USD bn) Q07 2Q07 3Q07 ABX Index Jul-06 Aug-06 quarterly average Sep-06 AAA (Series 06-2) BBB (Series 06-2) Oct-06 Nov-06 Dec-06 Jan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Thomson / SDC Sep-07 Oct-07 Outlook Mortgage credit problematic; no pick-up in origination and syndication in medium-term RMBS represented approx. 3% of Group revenues in 2006 Credit Suisse has capacity to take advantage of trading opportunities US housing sector remains largest single asset class that will continue to require financing Longer-term opportunities in prime mortgage sector at more attractive margins Slide 7
8 Market conditions and outlook 2/3 Commercial mortgages Global CMBS origination volumes (in USD bn) BBB AA AAA Q07 2Q07 3Q07 quarterly average CMBS spread trends Thomson / SDC Outlook Dramatic spread widening in third quarter 2007 and markets became frozen CMBS represented approx. 3% of Group revenues in 2006 Credit fundamentals still strong with delinquencies at historic lows Outlook in US market subject to resilience of economy Fundamentals stronger in Europe, but activities at near standstill 0 Nov-06 Dec-06 Jan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Sep-07 Oct-07 Smaller market in Asia but fundamentals remain healthy Slide 8
9 Market conditions and outlook 3/3 Leveraged finance Leveraged finance new issuance (USD bn) May Q07 2Q07 3Q07 CDX Series 8 high yield bond index 07- Jun quarterly average 21- Jun 05- Jul 19- Jul 02- Aug 16- Aug 30- Aug 13- Sep Traded below 90 intraday 27- Sep High-yield new issuance 1) Leveraged loan volume 2) 1) Thomson 2) Standard & Poor's leveraged market data 11- Oct The CDX consists of 100 reference entities of high-yield bonds with an initial coupon of 2.75% 25- Oct 08- Nov Outlook In the middle of rebalancing process between supply and demand Appetite from investors; deals in market begin to sell High-yield market is an intrinsic component of modern corporate finance Leveraged finance origination represented approx. 5% of Group revenues in 2006 Shakeout provides excellent opportunity to enhance position as weaker competitors exit market Slide 9
10 Wealth Management delivered profitable growth while making investments to expand global franchise Pre-tax income CHF m 2,426 9M06 +19% 2,889 9M , % (10)% 900 3Q06 2Q07 3Q07 Pre-tax income margin in % Comments Good results in light of challenging markets with increased volatility Client activity relatively strong until mid- August despite summer slowdown Lower activity until mid-september and a subsequent recovery through quarter end Nine-month pre-tax income margin exceeded 40% mid-term target 90 new relationship managers in 3Q07 Slide 10
11 Wealth Management with steady gross margin and good asset inflows Gross margin Assets under management Basis points Transaction-based CHF bn Recurring revenues FX and other effects Market and performance (37.7) 1) Net new assets M07 3Q 4Q 1Q 2Q 3Q Net new asset growth on AuM in 3Q07 (annualized) 4.5% rolling four quarters 6.2% 1) Includes a reduction of CHF 21.6 billion of corporate cash assets now reflected only in client assets Slide 11
12 Global reach in Wealth Management San Francisco Los Angeles Switzerland: 216 service locations; thereof 146 CRB only Germany: 13 service locations Italy: 38 service locations France: 3 service locations Spain: 3 service locations London Austria: 2 service locations Guernsey Luxembourg Frankfurt Paris Vienna Lisbon Zurich Milan St. Petersburg Monaco Chicago Boston Madrid Moscow Gibraltar Kiev Beijing Philadelphia Connecticut Dallas New York Istanbul Almaty Atlanta Baltimore Athens Beirut Miami Shanghai Nassau Cairo Doha Dubai Guangzhou Riyadh 1) Taipei Hong Kong Mexico Abu Dhabi Mumbai Panama Bangkok Caracas Bogotá Kuala Lumpur Singapore Lima Jakarta Santiago Rio de Janeiro São Paulo Montevideo Buenos Aires Cape Town Johannesburg Melbourne Sydney Service locations 1) Brokerage license only, joint venture with Saudi Swiss Securities Slide 12
13 Asset Management profitability adversely affected by environment Pre-tax income CHF m 611 1) Comments Completed business realignment in 2006/early 2007 Performance negatively impacted by purchase of assets from our US money market funds, lower private equity gains 9M06 9M Q06 2Q07 3Q07 Outside these areas, business shows momentum with stable margins and good net new assets growth Pre-tax income margin in % ) Excluding business realignment costs of CHF 192 m Slide 13
14 Diversified assets under management Assets under management CHF bn Revenue split by asset class Total AuM Balanced Fixed income & money markets Alternative Investments % % % % Balanced 1) 29% Alternatives 42% Fixed Income 16% Equity 13% Equity (6%) ) Asset allocation: Multi Asset Class solutions and Advisory Note: all figures as of September 30, 2007; Total Assets under Management of CHf 714 bn include other with CHF 9.1 billion assets Slide 14
15 Strong capital and liquidity BIS Tier 1 ratio in % Risk-weighted assets in CHF bn Comments Executed close to 50% of current CHF 8 bn program; expect completion during % Strong liquidity with good access to funding and large and stable customer deposit base +18% Limited exposure to CP conduits and SIVs Q07 2Q07 3Q07 Tier 1 capital in CHF bn Slide 15
16 Progress against Group key performance indicators Diluted EPS growth in % (from continued operations as reported in period) Return on equity in % (based on after-tax reported net income) M07 Net new asset growth in % (annualized on assets under management) M07 Cost / income ratio in % 1) (based on Core Results) M M07 1) Results for 2005 exclude charge to increase the reserve for certain private litigation of CHF 960 m and charge of CHF 630 m in relation to the change in accounting for share-based compensation results exclude credits received from insurance settlements for litigation and related costs of CHF 508 m Slide 16
17 Slide 17
Merrill Lynch Banking & Insurance Conference
Merrill Lynch Banking & Insurance Conference October 8, 2008 London Brady W. Dougan, Chief Executive Officer Cautionary statement Cautionary statement regarding forward-looking and non-gaap information
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 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 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 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 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 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 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 informationThe Global Financial Centres Index 12
The Global Financial Centres Index 12 SEPTEMBER 2012 GFCI 12 1. LONDON 2. NEW YORK 3. HONG KONG 4. SINGAPORE 5. ZURICH 6. SEOUL 7. TOKYO 8. CHICAGO 9. GENEVA 10. TORONTO Financial Centre Futures 3 2012
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 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 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 informationEmployers pension consultation obligations
Financial institutions Energy Infrastructure, mining and commodities Transport Technology and innovation Life sciences and healthcare Employers pension consultation obligations Briefing December 2017 Introduction
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 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 informationdentons.com Tax Calendar 2017
dentons.com Tax Calendar 2017 Munich Milan Frankfurt Luxembourg Brussels Paris London Milton Keynes Calgary Vancouver Chicago St. Louis Kansas City Sacramento Toronto Edmonton Denver San Francisco/Oakland
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 informationGlobal Real Estate Transparency Index, 2018 Transparency in 158 Cities. Global Research
Global Real Estate Transparency Index, 2018 Transparency in 158 Cities Global Research 2 Transparency in 158 Cities 2018 Real estate transparency - a key ingredient of city success Recent JLL research
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 informationCredit Suisse Swiss Equities Conference
Credit Suisse Swiss Equities Conference Rudy van den Steen, CFO New York, 27 September 2007 Practitioners of the craft of private banking 1 Disclaimer This presentation has been prepared by EFG International
More informationGlobal Real Estate Capital Markets
Global Real Estate Capital Markets Real Estate Data as of 2Q 2017 Economic/Capital Markets Data as of September 2017 Jon H. Zehner Presentation to ULI Scotland Thursday 28 September 2017 LaSalle Investment
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 informationTAX ALERT. Royal Decree-Law 3/2016, of December 2, which adopted the tax measures to consolidate public finance and other urgent social measures
Baker & McKenzie Madrid, S.L.P. Paseo de la Castellana, 92 Madrid 28046 Spain Tel: +34 91 230 4500 Fax: +34 91 391 5149 www.bakermckenzie.com Baker & McKenzie Barcelona, S.L.P. Av. Diagonal, 652 - Edif.
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 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 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 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 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 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 informationThe Global Financial Centres Index 17
The Global Financial Centres Index 17 MARCH 2015 Financial Centre Futures The Qatar Financial Centre Authority sponsors Long Finance s Financial Centre Futures programme. Qatar Financial Centre (QFC) is
More informationThe Global Financial Centres Index 25
The Global Financial Centres Index 25 MARCH 2019 Financial Centre Futures In March 2007, Z/Yen released the first edition of the GFCI, which continues to provide evaluations of competitiveness and rankings
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 informationThe Global Financial Centres Index 13 MARCH 2013
The Global Financial Centres Index 13 MARCH 2013 Financial Centre Futures 1 2013 The Qatar Financial Centre Authority sponsors Long Finance s Financial Centre Futures programme. Qatar Financial Centre
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 informationTotal net new assets of CHF 16.7 billion in 3Q09 as Credit Suisse s capital strength and integrated model continue to attract clients globally
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 net
More informationThe Cost of Capital Navigator. The New Online Resource for Estimating Cost of Capital
The Cost of Capital Navigator The New Online Resource for Estimating Cost of Capital DUFF & PHELPS Duff & Phelps is the global advisor that protects, restores and maximizes value for clients in the areas
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 informationThe Global Financial Centres Index 23
The Global Financial Centres Index 23 1 The Global Financial Centres Index 23 MARCH 2018 Financial Centre Futures 2 The Global Financial Centres Index 23 We are pleased to present the twenty-third edition
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 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 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 informationVersion number Effective date Person in charge Changes
0.Version Version number Effective date Person in charge Changes V1 9-Nov-11 SK V1.1 10-Nov-11 PV V1.2 11-Nov-11 PV V1.3 14-Nov-11 PV V1.4 1-Oct-12 ST Add Short-Term Student Research Assistants in Internal
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 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 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 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 informationCommerzbank AG Medium- and Long-Term Export Finance The best instruments to finance the import of capital goods to Iraq
Commerzbank AG Medium- and Long-Term Export Finance The best instruments to finance the import of capital goods to Iraq The current market situation The need for ECA-financing increased and we see considerably
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 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 informationGoldman Sachs European Financials Conference 2008
Goldman Sachs European Financials Conference 2008 Rudy van den Steen, CFO Berlin, 12 June 2008 Practitioners of the craft of private banking 1 Disclaimer This presentation has been prepared by EFG International
More informationHOW DO YOU DEFINE YOUR BORDERS? THE MODERN INDEX STRATEGY. msci.com
HOW DO YOU DEFINE YOUR BORDERS? THE MODERN INDEX STRATEGY msci.com MSCI DELIVERS THE MODERN INDEX STRATEGY The MSCI EAFE Index is designed to represent the performance of large- and mid-cap securities
More informationWhat is executive remuneration in high definition?
Executive remuneration in high definition Article one a high definition approach to relative TSR Our latest series of papers turns a high definition lens to different aspects of executive reward. 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 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 informationReveal. reward Global Total Remuneration report the hidden
Reveal the hidden reward Global Total Remuneration report 2011 Hay Group s Global Total Remuneration report provides a snapshot of reward packages of the average employee across 58 countries. The report
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 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 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 informationAsia s strongest brand in banking, banking the world s strongest economies
Credit Suisse Investor Conference Peter Wong, Chief Executive, HSBC Asia-Pacific Asia s strongest brand in banking, banking the world s strongest economies 21 March 2011 www.hsbc.com Forward-looking statements
More informationFinancing Business - Bank Partnering in Vietnam. CEEC Breakfast Meeting
Financing Business - Bank Partnering in Vietnam CEEC Breakfast Meeting 21.09.2017 Agenda 1 Commerzbank Introduction Slide 2 2 Bank Partnering Concept Slide 8 3 Techcombank Introduction Slide 11 1 1 Commerzbank
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 informationSupplemental Information 3 rd Quarter 2016 Earnings Call
Supplemental Information 3 rd Quarter 2016 Earnings Call November 2, 2016 Global market overview Q3 2016 Current macro-economic operating environment Slow global economic growth continues Political uncertainty
More informationThis Is Commerzbank. An Overview. Commerzbank AG Group Communications Frankfurt, 8 February 2018
This Is Commerzbank An Overview Commerzbank AG Group Communications Frankfurt, 8 February 2018 Agenda 1 Facts and Figures page 2 5 2 Board of Managing Directors page 6 3 Strategic Positioning page 7 4
More informationEMIR review. Client briefing. Article. Additional types of financial counterparty. Exemption from the clearing obligation for small FCs
Financial institutions Energy Infrastructure, mining and commodities Transport Technology and innovation Life sciences and healthcare EMIR review Client briefing Article May 2017 The European Commission
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 informationOverview of 1H, FY3/2013 performance. Sumitomo Mitsui Financial Group, Inc. November 14, 2012
Overview of FY3/213 performance Sumitomo Mitsui Financial Group, Inc. November 14, 212 Overview of FY3/213 performance SMFG consolidated net income: 1H results exceeded May forecast; revised full year
More informationOutlook for Global Real Estate
Outlook for Global Real Estate Global economy recovering despite uncertainty GDP growth varies across regions and countries Percent 2 15 Emerging economies 1 World 5 Forecast Percent 2 Middle East and
More informationFY 2016 RESULTS AND BUSINESS UPDATE. Presentation for Investors, Analysts & Media Zurich, 1 February 2017
FY 206 RESULTS AND BUSINESS UPDATE Presentation for Investors, Analysts & Media Zurich, February 207 CONTENT Introduction Boris F.J. Collardi, CEO 2 STRONG ASSET INCREASE AND MAJOR GROWTH INVESTMENTS Assets
More informationMiFID II Information to clients on costs and charges
MiFID II Information to clients on costs and Key Points associated /ancillary services and financial instruments should be disclosed to clients. This encompasses a wider range of costs than were previously
More informationSecond Quarter 2013 Results
Second Quarter 2013 Results Presentation to Investors and Media July 25, 2013 Disclaimer Cautionary statement regarding forward-looking statements This presentation contains forward-looking statements
More informationUSDA Foreign Agricultural Service
USDA Foreign Agricultural Service Janet Nuzum Associate Administrator North American Meat Institute November 3, 2015 FAS At A Glance FAS links U.S. agriculture to the world to enhance export opportunities
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 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 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 informationASSET MANAGEMENT. D. Frigerio Head of Private Banking & Asset Management Division
ASSET MANAGEMENT D. Frigerio Head of Private Banking & Asset Management Division AGENDA Asset Management at a glance CEE - the story so far Poland the benchmark Opportunities and challenges The approach
More informationPrivate Banking Investor Day Switzerland. Hans-Ulrich Meister, CEO Credit Suisse Switzerland. Zurich, September 22, 2009
Private Banking Investor Day 2009 Switzerland Hans-Ulrich Meister, CEO Credit Suisse Switzerland Zurich, September 22, 2009 Cautionary statement Cautionary statement regarding forward-looking and non-gaap
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 informationMinimum Volatility Strategies at Times of High Volatility September 24, 2008
Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Reltative Perforamance Relative Volatility Minimum Volatility Strategies at Times of High Volatility In April
More informationPRIME LONDON MARKET UPDATE
PRIME LONDON MARKET UPDATE 5 July 2018 Tom Bill Head of London Residential Research Prime London performance, pricing and volumes, drill down into PCL Outlook and impact of external factors like Brexit
More informationDeutsche Bank. Chief Financial Officer. Madrid, 5 October 2009
Deutsche Bank Stefan Krause Chief Financial Officer Madrid, 5 October 2009 Agenda 1 Well prepared p for a changing g landscape 2 Investment banking: Recalibrated for the post-crisis era 3 Non-investment
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 informationInvestment Advisers and Funds New Treasury Report Form for Foreign Claims and Liabilities
February 2014 Practice Groups: Investment Management Hedge Funds and Venture Funds Investment Advisers and Funds New Treasury Report Form for Foreign Claims and Liabilities By Clifford J. Alexander and
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C Form 6-K
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 April 25, 2018
More informationDOES YOUR PORTFOLIO REFLECT EUROPE? THE MODERN INDEX STRATEGY. msci.com
DOES YOUR PORTFOLIO REFLECT EUROPE? THE MODERN INDEX STRATEGY msci.com MSCI DELIVERS THE MODERN INDEX STRATEGY The MSCI Europe Index is designed to represent the performance of large- and mid-cap equities
More informationDeutsche Bank Q results
Cost and capital fully on track revenue growth is now key Disciplined execution against our 2018 adjusted cost and headcount targets On track to meet our 2019 commitments Franchise focus regaining market
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 informationUBS Swiss Equity Conference 2008
UBS Swiss Equity Conference 2008 Lawrence D. Howell, CEO Zurich, 17 January 2008 Practitioners of the craft of private banking 1 Disclaimer This presentation has been prepared by EFG International solely
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 informationSchroders Wealth Accumulation Programme (SWAP) For Accredited Investors Only
Schroders Wealth Accumulation Programme (SWAP) For Accredited Investors Only What is SWAP? Schroders Wealth Accumulation Programme (SWAP) is an actively managed approach to portfolio management, with an
More informationIS YOUR TAX STRUCTURE
IS YOUR TAX STRUCTURE STATE AID PROOF? CONTENTS 1 2 3 4 5 6 What is EU State Aid? Do EU State Aid rules apply? Potential impact of EU State Aid rules What do you need to do? Meeting your needs DLA Piper
More informationCredit Suisse Swiss Equities Conference
Credit Suisse Swiss Equities Conference Rudy van den Steen, CFO New York, 29 September 2006 Disclaimer This presentation has been prepared by EFG International solely for use by you for general information
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 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 informationThe Global Financial Centres Index 15 MARCH 2014
The Global Financial Centres Index 15 MARCH 2014 Financial Centre Futures 1 2014 The Qatar Financial Centre Authority sponsors Long Finance s Financial Centre Futures programme. Qatar Financial Centre
More informationFOR FINANCIAL PROFESSIONAL USE ONLY. NOT FOR PUBLIC DISTRIBUTION AND NOT FOR USE BY RETAIL INVESTORS
A Global View June 2018 Andy Schofield, Director of Research FOR FINANCIAL PROFESSIONAL USE ONLY. NOT FOR PUBLIC DISTRIBUTION AND NOT FOR USE BY RETAIL INVESTORS. PLEASE REFER TO DISCLOSURE PAGE FOR IMPORTANT
More informationPrivate Banking pre-tax income of CHF 0.9 billion with net new assets of CHF 18.0 billion
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 underlying*
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 informationEvery cent counts: China slashes certain IP application fees. April 2017
Every cent counts: China slashes certain IP application fees April 2017 Every cent counts: China slashes certain IP application fees April 2017 1 Every cent counts: China slashes certain IP application
More informationLOAN MARKET DATA AND ANALYTICS BY THOMSON REUTERS LPC
LOAN MARKET DATA AND ANALYTICS BY THOMSON REUTERS LPC GLOBAL LOAN MARKET DATA AND ANALYTICS BY THOMSON REUTERS LPC Secondary Market Bid Levels: Europe Slide 2 European CLO New Issue Volume Monthly Slide
More information