In the minds of all, 2023 will be remembered as a year of contrasts and economic and geopolitical instability. Fortunately, thanks to the resilience of its business model, and its position within one of the most solid European banking groups, Indosuez was able to successfully navigate this turbulence. We owe this to the relevance of our strategy, the positive impact of the high interest rates and the dedication of our teams. All of the bank’s geographical entities and business lines contributed to this positive momentum, with new achievements that continuously fuelled our various corporate projects, in some cases putting us two years ahead of the targets we set in Ambitions 2025, our medium-term development plan (MTP). Regarding the Client Project, 2023 is above all marked by our planned acquisition of Belgian bank Degroof Petercam, which, once we have obtained the necessary authorisations, will enable us to become a panEuropean leader in Wealth Management and benefit from a significant change in our business model. This will allow us to offer our clients an extensive value proposition, combining the know-how of two firms in private Wealth Management and Asset Management. In 2023, we also focused on strengthening our offering through innovative real estate products, the reliable results of our structured products and new bond funds. The acquisition of two strategic stakes (in Wealth Dynamix, a UK fintech founded in 2012 that provides client relationship management solutions, and AirFund, a French start-up created in 2021 to facilitate the distribution of private market funds) will also enable us to better serve our clients and accelerate the marketing of our funds. Reflecting the commitment of our teams, the 2023 NPS survey (an index that measures how likely clients are to recommend the bank to their network) showed a sharp increase in satisfaction (+22%) compared with 2021. In terms of the Societal Project, new ESG commitments were launched in 2023. Indosuez continues to roll out its responsible offering across all asset classes. ESG criteria are now integrated into our various support methods, our processes for the design and selection of financial products (directly held securities, investment funds, structured products) and our credit approval policy. We have defined a strict “coal” strategy for our investment policy and have begun to reduce our greenhouse gas emissions. The expansion of the activities of our two foundations to include the entire Group and the number of funding and support actions in favour of associations and NGOs working in biodiversity, in its various forms, demonstrate the importance we place on Indosuez’s contribution to cleaner living in our environment. With regard to our Human-centric Project, 2023 confirmed our positioning as a leading employer in Wealth Management. We endeavoured to enable the men and women working under the Indosuez banner to benefit from comparable development prospects, regardless of their entity. We promoted intergenerational transmission between our highly experienced employees and the young people who joined us, encouraged the empowerment of each and everyone and supported mini-companies to improve the service provided to our clients. Lastly, efforts to accelerate our Digital Transformation continued in 2023, with the roll-out of our clients management tool in our various regions and the availability of the My Indosuez mobile app for all our clients. 2024 will be a year of strong mobilisation for our teams. We will finalise the acquisition of Bank Degroof Petercam and work towards achieving our ambitious objectives for winning new business and development in our medium-term plan. These structuring projects are a source of great pride for all of us and illustrate the trust our shareholders place in the Indosuez brand and its future. Message from the General Management of Indosuez Wealth Management Jacques Prost Chief Executive Officer CA Indosuez Pierre Fort Chairman CA Indosuez Annual Report 2023 15
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