BPCE - 2019 Universal Registration Document

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PRESENTATION OF GROUPE BPCE

GROUPE BPCE’S BUSINESS LINES

ASSET & WEALTH MANAGEMENT Asset & Wealth Management develops solutions to meet the deposits and savings, investment, risk management and advisory needs of the various private banking and institutional clients of Natixis and the Groupe BPCE networks. Its ambition is to consolidate its position as a global leader in active portfolio management. Asset Management Ranked among the world’s top asset managers (1) (€934 billion) in assets under management (2) , Natixis Investment Managers offers a range of diversified solutions to help investors build their portfolios. With its multi-boutique model, drawing on the expertise of more than 20 affiliated asset management acompanies worldwide, Natixis Investment Managers is developing the Active Thinking TM approach to help its clients achieve their targets in any market conditions. Natixis Investment Managers posted solid earnings in various business segments in 2019. Its affiliate Mirova, specializing in impact investments incorporating ESG criteria, expanded significantly on the back of growing interest in responsible investment, solid investment performances and the strength of its brand. Natixis Investment Managers broadened its international equities offer by launching a range of resolutely active conviction strategies via its new affiliate Thematics Asset Management, and by purchasing a minority stake in WCM Investment Management in the United States, with the implementation of a solid distribution partnership. Moreover, Natixis Investment Managers further expanded its footprint by doing more business with insurers and financial institutions all around the world. A merger was recently announced between affiliate Ostrum Asset Management and La Banque Postale, aimed at combining their insurance activities and thus forming a leader on the European insurers market. Natixis Investment Managers also bought a minority stake in Fiera Capital, its preferred distribution partner in Canada. In Asia, expected to make the biggest contribution to global growth of AuM in the industry over the next 10-15 years, Natixis Investment Managers further developed the scope of its partnerships and increased the number of affiliates distributed across the region. The launch of Vauban Infrastructure Partners – an affiliate specializing in international infrastructure investment, particularly in the transportation, utilities and digital equipment sectors – hit a major milestone in the development of Natixis Investment Managers’ international range of real and alternative assets. The expansion of Flexstone Partners validated the Group’s strategy of combining the expertise of its subsidiaries in the private equity advisory market to create a single platform.

In 2019, Natixis Investment Managers further improved its brand visibility by considerably building up its media presence and entering into global partnerships with influential groups such as PRI (Principles for Responsible Investment), the G7 Investor Leadership Network, the World Economic Forum and the Dow Jones. Natixis Investment Managers is determined to maintain a strong worldwide presence in a bid to promote its unique active portfolio management approach. Building on its multi-affiliate business model, Natixis Investment Managers is developing the reach of its distribution network, further diversifying its line-up of affiliate investment offers, streamlining its operating model and expanding its global footprint. The Group is also continuing to invest in ESG strategies and impact investments, in diversity and inclusion, and undertaking to achieve noteworthy and measurable progress in these areas. Wealth Management Natixis Wealth Management serves two types of clients: the wealth management customers of Groupe BPCE’s retail banking networks along with business from Natixis (3) , and secondly direct clients (business owners, executive managers, and wealthy families). it designs and implements wealth management and financial solutions, and offers its clients a wide range of expertise and solutions covering all facets of their investment objectives: corporate advisory and wealth engineering services, portfolio management advisory services, financing, private equity, life insurance, structured products, real estate and diversification solutions, all in close cooperation with multiple Natixis entities. Natixis Wealth Management also relies on its wholly-owned asset management subsidiary Vega Investment Managers – which covers funds of funds, advisory and open-architecture fund selection – and on all Natixis Investment Managers affiliates to provide various products and services to its clients. After simplifying its business model (selling its Sélection 1818 platform targeting independent financial advisors), Natixis Wealth Management continued refocusing its wealth management business on the High Net Worth Individuals (HNWI) segment. In 2019, it acquired asset manager and investment advisory firm Massena Partners, boasting an exclusively HNWI client base. To that end, it also entered into a partnership with Essling Capital in order to build up its private equity offers and real estate club deals. Similarly, it decided to ramp up its digital transformation and better incorporate its expertise within the Group. For the last two years, Natixis Investment Managers has been developing digital solutions to facilitate and streamline interactions between clients and their dedicated advisors. It set up an interface which clients can use to purchase a life insurance contract in real time via electronic signature and simplified administrative constraints. At end-2019, Natixis Wealth Management posted assets under management of €30.4 billion, representing a year-on-year increase of €4.3 billion (+16%).

(1) Cerulli Quantitative Update: Global Markets 2019 ranked Natixis Investment Managers as the 17th largest asset manager in the world, based on assets under management at December 31, 2018. (2) Net asset value at December 31, 2019. (3) Internal analysis.

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UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE

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