4 COMMENTAIRES SUR L’EXERCICE Faits majeurs de l’année 2020
"H IONL? +;NCRCM ?N M?M @CFC;F?M IHN wNw >CMNCHAOw?M r >? HIG Q;L>M >;HM >CP?LM J;SM pN;NM
2HCM #L;H=? HAF?N?LL? FF?G;AH? 0OCMM? ONLC=B? -;SM
;M n "HPCLIHG?HN;F #CH;H=? &GJ;=N Q;L>M n V *CLIP; L?uICN F? JLCR >? F; G?CFF?OL? wKOCJ? >? A?MNCIH >? Ff;HHw? V FNB?FC; 0OMN;CH; L?uICN F? JL?GC?L JLCR >;HM F; V =;NwAILC? CGJ;=N JLID?=N CHP?MNG?HN I@ NB? S?;L FNB?FC; CI>CP?LMCNS #OH> L;TCF L?uICN F? JL?GC?L JLCR >;HM F; V =;NwAILC? *OFNC
;MM?N &HP?MNG?HN+?QM "R=?FF?H=? CH !CP?LMCNS &H=FOMCIH n +;NCRCM V &HP?MNG?HN *;H;A?LM ; wNw HIGGw =B;GJCIH ?H G;NCvL? >? >CP?LMCNwn 2HCN?> -LCH=CJF? @IL /?MJIHMC?LMf $LIOJ V n *CLIP; BIHILw? ?H N;HN KO? MCAH;N;CL? >O -/& )?;>?LM $LIOJ F?M JL?GC?LM MCAH;N;CL?M >?M -/& r F; JICHN? >O NBvG? >? =?NN? ;HHw?n F? L?JILNCHA =FCG;Nn -?HMCIHM A? -?HMCIHM A? Q;L>M n *CLIP; ?MN HIGGw V G?CFF?OL @IOLHCMM?OL >? M?LPC=?M ?H >wP?FIJJ?G?HN >OL;? Ff;HHw?n *CLIP; ?MN =F;MMw >;HM F? NIJn >?M A?MNCIHH;CL?M >f;=NC@M F?;>?LM V >;HM F? >IG;CH? >? FfCHP?MNCMM?G?HN L?MJIHM; &H>?R n +;NCRCM &HP?MNG?HN *;H;A?LM Mf?MN =F;MMw J;LGC F?M >CR JL?GC?LM V >;HM F? =F;MM?G?HN Yn$FI<;F n^ >? -?L?ALCH? IGGOHC=;NCIHM MOL +;NCRCM &HP?MNG?HN *;H;A?LM d 0I=CwNw >? A?MNCIH >f;=NC@M V F;OLw;N? >;HM F; =;NwAILC? /?ACIH;F )?;>?L 20
nG;H;A?LM )IIGCM 0;SF?M IGJ;HS d 0I=CwNw >? A?MNCIH >f;=NC@M F;OLw;N? V >;HM F; =;NwAILC? Yn/?ACIH;F )?;>?L 20n^
nG;H;A?LM )?M LwMOFN;NM @CH;H=C?LM wF?PwM >? F; 0=@D4 ?A8E\4 ?Hn ;P?= OH? JLIAL?MMCIH >O -+ >? n J;L L;JJILN rn G;FALw F? =IHN?RN? >? =LCM? M;HCN;CL? MIHN F? @LOCN >fOH? >SH;GCKO? HIOLLC? J;L Ff?HA;A?G?HN >? Ff?HM?G?M ?HNCNwM >? +;NCRCM 4?;FNB *;H;A?G?HN ; wNw JIOL F? GwNC?L OH? ;HHw? >? JIOLMOCN? >? MIH JF;H MNL;NwACKO? >;HM F? =;>L? >? +?Q !CG?HMCIH ?N >f;>;JN;NCIH JIOL LwJIH>L? ;O GC?OR ;OR ;NN?HN?M >? M?M =FC?HNMn >wG;NwLC;FCM;NCIH JFOM JIOMMw? >? F; L?F;NCIH =FC?HN r FfCHMN;L >? V FfwF;LACMM?G?HN >O >CMJIMCNC@ >? MCAH;NOL? wF?=NLIHCKO?n HIOP?;OR GI>?M ?N @LwKO?H=?M >? =IGGOHC=;NCIH ;P?= F?M =FC?HNM V >CL?=NM ?N F?M /wM?;OR >? - "n >wP?FIJJ?G?HN >fOH JLID?N MNL;NwACKO? ;ONIOL >O L?H@IL=?G?HN >? V FfI@@L? ?N >? F; KO;FCNw >? M?LPC=? >? Ff;=NCPCNw >? =IOLN;A? ?H ;MMOL;H=?
PC? ?M CHCNC;NCP?M =IGGOH?M IHN wNw ;==IGJ;AHw?M >f?@@ILNM >fIJNCGCM;NCIH >?M L?MMIOL=?Mn Lw>O=NCIH >?M =B;LA?M M;HM CGJ;=N MOL Ff;=NCPCNw =IGG?L=C;F? V HIN;GG?HN MOL FfCH@ILG;NCKO?n @CH >O JLIAL;GG? >? LOJNOL? =IHP?HNCIHH?FF? =IFF?=NCP? ?N <;CMM? V ;>>CNCIHH?FF? >?M ?@@?=NC@M Ff?@@C=;=CNw G;LE?NCHA >?M MI=CwNwM >? A?MNCIH >f;=NC@Mn CNSQCL? 0?F?=NIL $?H>?L !CP?LMCNS Q;L>M n V
Faits marquants 4.1.2
concernant les métiers de Natixis
)? >w? Ff?R?L=C=? ; wNw G;LKOw J;L Ff;HHIH=? >? F; =?MMCIH ?H @wPLC?L >? n >O =;JCN;F >? I@;=? r L=B ;JCN;F $LIOJ OH ;MMOL?OL ;GwLC=;CH MJw=C;FCMw ); Lw;FCM;NCIH >? F; NL;HM;=NCIH ?MN MIOGCM? r >?M =IH>CNCIHM OMO?FF?M HIN;GG?HN FfI?M ;ONILCM;NCIHM LwAF?G?HN;CL?M L?KOCM?M MOM=?JNC? Hw=?MMCN?L OH >wF;C >? rn nGICM ); NL;HM;=NCIH ; ?HNL;{Hw >vM Ff;LLxNw >O nG;LM F; >w=IHMIFC>;NCIH >? F; J;LNC=CJ;NCIH >;HM I@;=? >;HM F?M =IGJN?M >? +;NCRCM ;P?= OH CGJ;=N @;PIL;? MIFP;? FfIL>L? >? nwJFIC?G?HN >? M?M >C@@wL?HNM J~F?M GwNC?LM O M?CH >O J~F? 4BC8>= 3Q02C85B 4C 34 5>ACD=4 F? >wP?FIJJ?G?HN >? +;NCRCMn&* ?Hn ; wNw G;LKOw NION >f; J;L F; MCAH;NOL? >? Ff;==IL> JLwPIS;HN F; @OMCIH >?M ;=NCPCNwM >? A?MNCIH >? N;OR ?N ;MMOL;HNC?FF? ?R?L=w?M J;L F?M @CFC;F?M L?MJ?=NCP?M >? +;NCRCM &HP?MNG?HN *;H;A?LM ?N >? F; ;HKO? -IMN;F? r M;PICL ,MNLOG MM?N *;H;A?G?HN ?N F; ;HKO? JIMN;F? MM?N *;H;A?G?HN F? nDOCH o F; MOCN? >? FfI?M ;ONILCM;NCIHM LwAF?G?HN;CL?M L?KOCM?M +;NCRCM ?N ); ;HKO? -IMN;F? IHN ;CHMC JO @CH;FCM?L F? nI=NI?M ;=NCPCNwM >? A?MNCIH N;OR ?N ;MMOL;HNC?FF? >f,MNLOG MM?N *;H;A?G?HN ?N >? ); ;HKO? -IMN;F? MM?N *;H;A?G?HN ? L;JJLI=B?G?HN G;LKO? F; =Lw;NCIH >fOH F?;>?L >? F; $?MNCIH >f;=NC@M ?H "OLIJ? ;P?= JFOM >? nGCFFC;L>M >f?OLIMn>f?H=IOLM AwLwM ?N JFOM >? nGCFFC;L>M >f?OLIMn;>GCHCMNLwM r NL;P?LM M; JF;N?@ILG? >? M?LPC=?M r @CH M?JN?GM >f?OLIM >f;=NC@M MIOM A?MNCIH ?N n=IFF;? F; ;HKO? -IMN;F? r ,MNLOG !;HM F? =;>L? >? =? JLID?N F; @?LG?NOL? >f,MNLOG 20 @CFC;F? >f,MNLOG ;OR pN;NM
2HCM ?N MJw=C;FCMw? >;HM F; A?MNCIH >?NN? JLCPw? ?MN CHN?LP?HO? ;O NLICMCvG? NLCG?MNL? -;L ;CFF?OLM =?LN;CH?M ;=NCPCNwM >f,MNLOG IHN wNw NL;HM@wLw?M ;O JL?GC?L I=NIf;ONL?M @CFC;F?M >? +;NCRCM &HP?MNG?HN *;H;A?LMn ;=NCPCNw >? A?MNCIH ;=NCIHM NBwG;NCKO?M HIH ;MMOL;HNC?FF? V nGCFFC;L> >f?OLIM >f?H=IOLM MIOM A?MNCIH NL;HM@wLw? r F; MI=CwNw >? A?MNCIH 1B?G;NC=Mn ;=NCPCNw >? A?MNCIH ;=NCIHM =IHP?LNCM >f?OLIM >f?H=IOLM MIOM A?MNCIH NL;HM@wLw? r !+ n ;=NCPCNw >? A?MNCIH >? >?NN?M JLCPw?M ?N >f;=NC@M Lw?FM ?H #L;H=? V nGCFFC;L>M >f?OLIM >f?H=IOLM MIOM A?MNCIH NL;HM@wLw? r +;NCRCMn&* &HN?LH;NCIH;F -;L ;CFF?OLM +;NCRCM ; ;HHIH=w F? nHIP?G?M >CM=OMMCIHM ;P?= % , ?H PO? >O >wHIO?G?HN JLIAL?MMC@ ?N IL>IHHw >? F?OL J;LN?H;LC;N ?M >CM=OMMCIHM JILN?HN MOLn OH? =?MMCIH AL;>O?FF? >? F; J;LNC=CJ;NCIH >? +;NCRCMn&* >;HM % ,n * =? KOC Mf?MN NL;>OCN J;L F; MCAH;NOL? >fOH JLINI=IF? >? =?MMCIH ?N F; L?JLCM? IL>IHHw? >? F; >CMNLC? A?MNCIH ;P?= OH? JwLCI>? >? NL;HMCNCIH DOMKOfr @CH ?NN? wPIFONCIH ?MN MIOGCM? r Ff?R;G?H ?N r Ff;JJLI<;NCIH >?M ;ONILCNwM LwAF?G?HN;CL?M =IGJwN?HN?M O =IOLM >? Ff;HHw? +;NCRCMn&* ; L?uO F?M JLCH=CJ;F?M >CMNCH=NCIHM MOCP;HN?Mn &HMOL;H=? MM?N /CMEn *CLIP; L?uICN F? JLCR >? Ff&HP?MNCMM?OL V /?MJIHM;? Ff;HHw? n ;LLIHfMn +;NCRCM &HP?MNG?HN *;H;A?LM L?GJILN? F; ? nJF;=? >O V =F;MM?G?HN ;HHO?F ;LLIHfM >?M G?CFF?OL?M @;GCFF?M >? @IH>M ;GwLC=;CH JIOL M; J?L@ILG;H=? MOL OH ;H !;HM F; =;NwAILC? 4ILF> "KOCNS +;NCRCM &HP?MNG?HN G;H;A?LM M? =F;MM? M?=IH>n
228
NATIXIS DOCUMENT D’ENREGISTREMENT UNIVERSEL 2020