Crédit Mutuel Group - 2018 Activity Report “La Française is a unique business: a multi-specialist asset manager run by women and men whose convictions and values form the basis of the group’s quest for development and success” A subsidiary of the Crédit Mutuel group, Banque de Luxembourg THE PRIVATE BANK FOR EXECUTIVES Xavier Lépine, has been a private bank since 1920. The bank is attentive and CIC Private Banking has been helping clients to manage Chairman of the Executive Board, La Française responsible to its customers, its employees and the community. their professional and private fi nancial interests since 1859. Within a national group with strong roots in regional economies At the same time as achieving positive growth in its business and an international focus, CIC Private Banking offers high lines, Banque de Luxembourg posted a Common Equity Tier 1 value-added services in fi nancial and wealth engineering, solvency ratio of 25.5% in 2018, a refl ection of its robust base. asset allocation and fi nancial management within the THE MULTI-EXPERTISE MODEL framework of a comprehensive banking relationship. Organized around four businesses – Securities, Real Estate, Investment Solutions and Direct Financing – 1975 the asset management company La Française is Asset Management rolling out its multi-affi liate model to institutional FOUNDATION and high net worth customers in France and abroad. OF LA FRANÇAISE Founded in Brest in 1980, Federal Finance Gestion is the 17th- CM-CIC Asset Management is the investment management It currently has a presence in major European cities, largest asset management company in France. Initially called company of Crédit Mutuel Alliance Fédérale. CMB Placements and designed primarily to serve the banks It is one of the leading asset management companies in France, in the United States and in Asia. of Crédit Mutuel de Bretagne, the company has gradually with a presence in all asset classes and management styles. As a responsible actor and in a long-term €68.1 billion expanded its network of distributors. Its products and perspective, the group looks to the challenges management solutions are now sold by many independent over 235 asset management professionals of the future to forge its current convictions. IN ASSETS fi nancial advisors and online banks throughout France. 4thlargest management company in France AS AT MARCH 31, 2019 €151 billion assets under management at the group level In 2018, the La Française group reaffi rmed its leading position in real estate and strengthened its commitment to responsible development. 29.6% La Française, a multi-specialist asset management group OF ASSETS GENERATED FROM and subsidiary of the Crédit Mutuel Nord Europe group, INTERNATIONAL BUSINESS is a conviction-based asset manager. It affi rms its values as a company in its CSR policy and as an asset manager through its investment choices. In 2018, La Française thus continued to grow, underpinned by 635 the expertise of its four key business areas and the strength of its EMPLOYEES distribution platform in France and abroad. Real estate business IN MARCH 2019 grew, and the fi rm developed innovative new investment Your potential “For more than a century, Banque Transatlantique solutions while continuing to focus on its growth drivers abroad. has secured the trust of private banking customers through personal attention in its services and La Française carried out a number of emblematic actions that is fundamental business lines. bear out its aim of being a committed European Asset Manager,a leader in every aspect of real estate activity and a fundamentalThe group continued to expand internationally, enhancing its With long-standing expertise in private banking, player in its key areas of fi nancial expertise. The year was marked presence in Germany with the acquisition of the Veritas group. asset management and executive share ownership by continued enthusiasm for REITs, increased business and assets and stock option plans, we are among the leading under management in the Investment Solutions area, growth in Thanks to this positive activity, assets under management players in these areas in France and worldwide.” assets under management in key bond portfolios, the structuring totaled €65.7 billion at the end of 2018, notwithstanding the of the innovative “impact investing” range and the success of outfl owof nearly €10 billion folowig tmrgrl nhe eeandaspbortion Bruno Julien-Laferrière, Chairman of the Executive the Moniwan digital REIT distribution platform. of Nord Europe Assurances, the insurance holding company Board of Crédit Mutuel Nord Europe, by Groupe des Assurances In 2018, La Française attracted €6.1 billion in new funds, 40% du Crédit Mutuel (GACM). from abroad, from a diverse range of customers (institutional investors, retail banks, investment platforms, advisors, private La Française is on track to achieve two objectives set in its 2020 clients, etc.) and through its various offi ces in Paris, Frankfurt, medium-term plan: to exceed the €70 billion mark in assets Geneva, Hong Kong, London, Luxembourg, Madrid, Milan, Seoul, under m anagement, and to generate 25% of those assets Singapore and Stamford (CT, USA). from international investors. 90 91