CFM INDOSUEZ Wealth Management - 2019 annual report

25 2019 Activity Report M E S S A G E F R O M S E N I O R M A N A G E M E N T 2019 was a year of strong results and very tight risk control at CFM Indosuez Wealth Management. We achieved this financial performance against a backdrop of far-reaching change in the international wealth management industry and particularly intense competition in all our growth regions. This success was the result of our strategy, which was unanimously approved by our Board of Directors, whom we would like to thank for their dedication. It was driven by the dynamism, commitment and innovation of the men and women who make up our Bank, and by the changes made in our real estate portfolio. We purchased a landmark building on Square Gastaud in Monaco, which we had occupied for several years and which houses our trading desk. This acquisition further reinforced our deep-rooted commitment to Monaco, which is reflected in the support we receive from prominent Monegasque families, who hold 30% of our capital. We would like to take this opportunity to thank all of our shareholders for their loyal support, and the Monegasque authorities for their trust and the interest they show in our development. This year, CFM Indosuez made considerable progress under the Crescendo 2022 business plan, reaffirming our ambitions in terms of sales and client positioning, our impact on society and human development: - we provided our clients with ever more comprehensive, relevant solutions, enhancing collaboration between our teams in order to improve the quality of our services. Our aim is for our Bank to be our clients’ preferred Wealth Management bank. - we ramped up our transformation, in particular in digital, to bolster our operating efficiency and sales, in coordination with our Group. This included the launch of the My Indosuez mobile app for all our clients. In terms of digital technology, CFM Indosuez’s strategy is to use technology and innovation to serve its clients and employees, in order to continuously improve their experience with our Bank. - we raised awareness of green finance among our clients and employees by promoting its advantages throughout 2019 with a specific strategy drawing on our CFM Environnement Développement Durable investment fund, which was created in 2003 under the impetus of HSH Prince Albert II of Monaco. - we laid the foundations of balanced, lasting growth while increasing our profitability with a clear, shared vision and growth strategy that is backed by high standards in terms of transparency, the application of regulatory standards, compliance and the quality of advice provided to our clients and partners. As the Principality’s leading employer in banking, we fully adhere to our Group’s values and its raison d’être, “Working every day in the interest of our customers and society”. In 2019, we repeated the Citizen Days initiative, signed the National Energy Transition Pact in Monaco and sealed a major long-term partnership with the Institut Océanographique de Monaco. This partnership reflects CFM Indosuez’s aim to support the work of the Institut Océanographique, which plays an important role in extending Monaco’s scientific and cultural influence around the world and boosting its international standing. It marks a new stage in the Bank’s societal and environmental commitment. In 2020, we will pursue our transformation and further strengthen our leadership by continuing our expansion while maintaining a controlled risk profile. To do this, we will draw on our knowledge of our clients and our close ties with them so we can better deliver the service excellence and expertise they expect. With the backing of one of the world’s biggest banking groups, our deep roots in Monaco and our ranking as Best Bank in Monaco for the fourth year running (by Global Finance magazine), CFM Indosuez has all the strengths we need to succeed.