NATIXIS -2020 Universal Registration Document

CORPORATE GOVERNANCE Management and oversight of corporate governance

In this context, the Senior Management Committee examined external growth opportunities and supervised various projects or initiatives. As such, the Senior Management Committee studied and approved all the strategic operations carried out by Natixis, before presenting them to the Company’s Board of Directors. In terms of strategic transactions, in the Asset & Wealth Managementbusiness, the merger between OstrumAM and Banque Postale AM has been finalized, creating a European leader in interest rate and insurance management on behalf of large companies. institutional clients and strengthening the positioning of Natixis Investment Managers as a leading player in asset management in Europe. Also noteworthy were the announcement of the changing relationshipbetween Natixis InvestmentManagers and H20 AM and the beginning of discussions with a view to a gradual and orderly unwinding of their partnership. In Corporateand InvestmentBanking, the equity derivativesbusiness has been repositioned,with the most complexproductsdiscontinued and lower exposure limits on products with low and moderate risk profiles, as well as the refocusing on BPCE Group’s networks and Natixis’ strategic clients. In the non-business segment, in February 2020 came the announcementof the sale of 29.5% of Coface’s share capital to Arch Capital Group, leaving Natixis a residual stake of 12.2%. Furthermore, the Senior Management Committee oversaw Natixis’ adaptation to changes in the economic and regulatory environment in the banking and insurance sectors. Specifically, it regularly monitoredany regulatory changes and initiatives. It launched several projects aimed at strengthening Natixis’ resilience and operational efficiency and announced a new transformation plan aimed at generating cost savings of €350 million by 2024. It also encouraged employee engagement initiatives, through a project focused on culture to define and affirm Natixis’ “Purple Way” around three values (sustainable impact, entrepreneurshipand joint intelligence), the creation of the Natixis Foundation, and the implementation of a new mobility pact. The Senior Management Committee also continued to reflect on Natixis’ real estate strategy and also on new working environments and methods in partnership with BPCE. The Senior Management Committee oversaw the management and monitoring of the impacts of the COVID-19 health crisis for employees, customers and all stakeholders. In particular, it regularly monitored business continuity, risk monitoring and measures to support customers in their economic recovery. The Senior Management Committee regularly examined the Company’s business development and results during its meetings throughout the year. It studied the annual, half-yearly and quarterly financial statements, before they were presented to the Board of Directors, and was involved in defining financial communicationsfor the Company.

After in-depth discussions with the businesses and support functions involved, the Senior ManagementCommitteeapproved the mainmanagementdecisions, and reviewedand approved the budget and capital trajectory, the enhanced and validated Risk Appetite Framework, internal stress tests and ICAAP report. In addition, it approved the terms and conditions governing mandatory annual negotiationsand the compensationreviewpolicy, the appointmentof executive officers and managers, and all significant projects or investments. Furthermore, the Senior Management Committee monitored the management, risk management and compliance measures within Natixis, and regularly reviewed changes in the Company’s risks, as well as the consequences of audits. It also focused on conduct-related issues. The Senior Management Committee also oversaw the implementation of Natixis’ CSR strategy. Specifically in terms of combating climate change, it oversaw the roll-out of the Green Weighting Factor project, which led to a favorable adjustment of risk-weightedassets for transactions that have a positive impact on climate and the environment, and an unfavorable adjustment for those that have a negative impact. Oil & Gas exposure was actively reduced throughout the year and the decision to fully exit the shale gas and oil activity planned for 2022 was announced. Finally, it continued the work of preparing the next strategic plan for 2021-2024 with several days of strategic dialogs to define the strategic orientations of the business lines for 2024 and the orientations on priority cross-cutting issues. Natixis has an Executive Committee comprising the members of the Senior Management Committee and the heads of certain business lines and support functions essential to the Company’s success. The Executive Committee, which has over 40 members, met quarterly at seminars during which its members were invited to provide insight and analysis on the strategiesproposedby the Senior Management Committee and to incorporatemanagerial information for the purposes of distributing it to the teams. Some ad hoc meetingswere organized to deal with the health crisis and its impact on the business lines and teams. Executive Committeemembers contributed to the preparationof the 2021-2024 strategic plan as sponsors of cross-business initiatives on specific themes or contributors to working groups. They are also regularly involved in the Company’s various projects, particularly in the areas of Human Resources, finance and business lines. Activities of the Executive 2.2.3.5 Committee

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020

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