Slide 1: 1H 2021 Results and Business Review
1H 2021 RESULTS AND BUSINESS REVIEW SEPTEMBER 2021
Slide 2: Agenda
AGENDA Preliminary remarks Our Vision: To Be the 1H 2021 Financial Results No.1 Private Bank unique by Value of Net Inflows, Assets and recruiting Service, Innovation and Sustainability Business update and closing remarks Appendix 2
Slide 3: 1H 2021 Results: Executive Summary
1H 2021 RESULTS: EXECUTIVE SUMMARY SOUND OPERATING TREND Business trend: ongoing positive momentum Total Assets at €80.4bn (+17% YoY). Assets under Advisory at €6.8bn (+33%) Total Net inflows at €3.8bn (+35% YoY), Net Inflows in Managed Solutions at €2.5bn (+105%) FAs network steadily growing
Slide 4: Statement on the 2Q 2021 One-Off Provision
STATEMENT ON THE 2Q 2021 ONE-OFF PROVISION In September, Banca Generali will launch an offer to its clients to purchase all senior notes of the outstanding Purchase offer securitizations of health receivables for a total of €478m. All clients will receive a sum not lower than the sum invested, net o
Slide 5: Results at a Glance
RESULTS AT A GLANCE BEST INTERIM RESULTS DESPITE LARGE ONE-OFF CHARGE (€ mil) 1H 20 1H 21 % Chg Comments Net Interest Income 42.4 43.9 3.5% Sound Banking Income (+43%) Net income (loss) from trading activities and Dividends 8.4 11.4 35.5% Net Financial Income (+9%) supported by a sticky NII and Ne
Slide 6: Solid Growth in Recurring Net Profit
SOLID GROWTH IN RECURRING NET PROFIT DRIVEN BY ASSET EXPANSION, MIX ENHANCEMENT AND OPERATING LEVERAGE Net Profit: Recurring vs. Variable m/€ Banca Generali is fully 272.1 274.9 committed to increase its recurring share of profits by leveraging on growth, revenue diversification 203.6 204.1 123.5 12
Slide 7: Non-Recurring Items
NON-RECURRING ITEMS TWO POSITIVES, ONE NEGATIVE Build-up of Non-recurring items m/€ 1 +42.6 • Record Performance fees harvesting leveraging on favorable financial market conditions and positive performance to clients (+4.6%, net of fees). New performance fee structure approved 106.8 by CSSF (slide 2
Slide 8: Strong Acceleration in Recurring Net Profit
STRONG ACCELERATION IN RECURRING NET PROFIT RECURRING FEES AND OPERATING LEVERAGE DRIVING SOUND GROWTH Build-up of recurring net profit m/€ Operating items Non-operating items +30.1 (14.2) • Strong increase in recurring fees (+€34m) driven by asset (4.7) expansion and margin (5.7) (8.5) 83.2 recover
Slide 9: Agenda
AGENDA Preliminary remarks Our Vision: To Be the No.1 Private Bank 1H 2021 Financial Results unique by Value of Service, Innovation Net Inflows, Assets and recruiting and Sustainability Business update and closing remarks Appendix 9
Slide 10: Net Financial Income
NET FINANCIAL INCOME NET INTEREST INCOME PROVED RESILIENT Net financial income m/€ Total Assets and Interest-bearing Assets bn/€ 55.3 15.7 50.8 14.0 11.4 12.3 1.6 8.4 1.0 2 2.3 1.0 2.3 Other assets 30.6 2.0 26.6 Loans to Banks Trading 24.2 24.7 8.4 Loans to Clients income 4.4 2.9 42.4 43.9 4.0 Finan
Slide 11: Gross Fees (1/3)
GROSS FEES (1/3) STRONG REVENUE GROWTH EXPLOITING FAVORABLE MARKET CONDITIONS Gross recurring fees m/€ Variable fees m/€ +18% 449.2 382.0 68.7 55.7 221.2 228.1 195.5 165.0 186.5 33.7 35.0 380.5 29.7 326.3 25.9 111.0 193.1 73.2 165.8 160.6 187.4 53.4 54.0 19.8 1H20 1H21 1Q20 2Q20 1Q21 2Q21 1H 20 1H 2
Slide 12: Gross Fees (2/3): Management Fees
GROSS FEES (2/3): MANAGEMENT FEES ROBUST ASSET EXPANSION AND MARGIN RECOVERY Quarterly trend m/€ +17% Management 380.5 +3% 326.3 Fees 165.7 160.6 187.4 193.1 m/€ 1H20 1H21 1Q20 2Q20 1Q21 2Q21 Management fee margin fully in line with 3Y Plan guidance +12% +3% (1.38%-1.42%) both at quarterly Avg. Mana
Slide 13: Gross Fees (3/3): Other Fees
GROSS FEES (3/3): OTHER FEES STEADILY GROWING CONTRIBUTION WITH A DIVERSIFIED MIX Banking and Entry Fees m/€ New revenue streams m/€ 1H21 new revenue +23% streams posted a 68.7 68.7 significant increase in advisory fees (+35%) 55.7 55.7 and retail brokerage 20.7 (+14%). Structured 18.5 35.0 +13.5% 3
Slide 14: Fee Expenses
FEE EXPENSES STRUCTURAL IMPROVEMENT IN PAY-OUT RATIO ON LOWER COST OF GROWTH Total Fee Expenses m/€ Pay-out to the network % 236.8 47.4% 46.8% 203.8 26.5 22.7 47.0 36.2 36.3 42.9 1H 2021 pay-out ratio 11.2 10.5 (ex-performance fees) 163.3 1H20 1H21 decreased to 52.7% (- 138.2 0.6ppts) benefitting Co
Slide 15: Operating Costs (1/2)
OPERATING COSTS (1/2) DISCIPLINE IN COST MANAGEMENT Total operating costs1,2 m/€ Breakdown of core operating costs1,2 m/€ +2.7% +4.6% 112.3 101.4 109.4 96.9 109.4 1.1 90.9 2.7 16.6 10.4 9.9 15.1 9.7 14.7 8.0 55.3 56.0 56.3 41.5 43.4 54.1 37.6 50.4 51.0 1.5 0.9 0.2 48.2 48.7 1.2 8.0 8.7 4.7 5.2 7.5 7
Slide 16: Operating Costs (2/2)
OPERATING COSTS (2/2) OPERATING LEVERAGE AT ITS BEST Operating costs/Total assets1 Cost/Income ratio1 0.51% 52.6% 53.4% 51.1% 53.9% 52.3% 0.45% 44.3% 42.3% 0.40% 40.3% 41.0% 38.9% 39.6% 40.2% 36.2% 35.4% 40.0% 0.37% 30.9% 31.5% 0.33% 0.33% 22.0% 0.31% 0.30% 0.28% 2013 2014 2015 2016 2017 2018 2019 2
Slide 17: Sound Capital Ratios
SOUND CAPITAL RATIOS MORE THAN €500M FOR DIVIDEND EMBEDDED IN CURRENT CAPITAL RATIOS CET1 ratio TCR ratio Capital ratio at interim level are 17.1% 15.3% 18.4% subject to seasonality linked 14.3% 16.5% primarily to the commitment for the 15.7% purchase of treasury shares (700k) to serve remuneration
Slide 18: Agenda
AGENDA Preliminary remarks Our Vision: To Be the 1H 2021 Financial Results No.1 Private Bank unique by Value of Net Inflows, Assets and recruiting Service, Innovation and Sustainability Business update and closing remarks Appendix 18
Slide 19: Total Assets
TOTAL ASSETS NEW HIGHS WITH A HIGHER-QUALITY MIX Total Assets bn/€ Managed Solutions bn/€ +24% +17% 41.3 80.4 37.4 Managed solutions 74.5 33.4 9.7 (+3ppts to 51.3% of total In-House funds 8.8 68.9 7.6 assets). Growth driven Third-party funds 12.3 by Funds/SICAVs (in- 10.8 9.4 41.3 house +28%, third-
Slide 20: Total Net Inflows (1/2)
TOTAL NET INFLOWS (1/2) HIGH-QUALITY MIX FOCUSSED ON MANAGED SOLUTIONS Total net inflows m/€ Managed solutions, m/€ 3.8 +35% 2.5 +105% 2.8 2.5 Net inflows (+35%) boosted by managed solutions (+105%) 1.4 1.2 1.7 Positive net inflows in AuC 1.2 1.3 products bearing fruits of 0.2 0.7 enhanced focus on
Slide 21: Total Net Inflows (2/2)
TOTAL NET INFLOWS (2/2) WELL-BALANCED CONTRIBUTION FROM EXISTING AND NEW RECRUITS Net inflows by acquisition channel, bn/€ Recruitment trend (# of Recruits) 3.8 75 1.2 Continued momentum 2.8 in recruiting recovering 36 from the 1H20 0.7 45 slowdown linked to 1.7 pandemic 28 22 0.7 2.8 Growth remains
Slide 22: Financial Advisor Network
FINANCIAL ADVISOR NETWORK STEADY GROWTH BY SIZE AND VALUE Financial Advisor Network, No. of FAs FA Network, by portfolio size and skills (% of Assets) No. of FAs Assets per FA Clusters m/€ 2 2,139 2,087 2,060 2,040 1,985 1,936 Wealth 1,841 Managers 35% 3401 90.8 Financial Advisors 1,715 (PTF>€50m) 1
Slide 23: Best FA Quality in the Industry
BEST FA QUALITY IN THE INDUSTRY STEADY VALUE GROWTH Average FA portfolio (Asset per Financial Advisor) m/€ 37.1 1 35.1 35.9 Best Player ex BG Assoreti Banca Generali 32.8 32.5 31.6 30.6 28.8 29.0 27.8 25.8 24.3 24.7 25.4 24.3 23.9 22.2 23.2 22.0 21.5 19.7 20.7 18.0 18.3 18.5 18.4 15.9 16.1 15.7 15.8
Slide 24: Strong Growth in Private Clients
STRONG GROWTH IN PRIVATE CLIENTS DELIVERING ON PRIVATE CLIENTS AS STATED IN THE 3Y PLAN % Asset Breakdown of Clients by cluster, bn/€, # No. of Clients, # Data as of 30.06.2021 Clients >€ 500K 79.4 320.6 +94% 31 29 10% 26 22 23 19 16 68% 2015 2016 2017 2018 2019 2020 1H21 24 60% 61% 64% 63% 66% 67%
Slide 25: Total Net Inflows: Strong Start to 2H 2021
TOTAL NET INFLOWS STRONG START TO 2H 2021 Total net inflows m/€ Managed solutions, m/€ 3.3 5.1 +38% +98% Both July and August proved 3.7 much stronger than last year 1.9 3.3 driving total YTD net inflows to 1.7 €5.1bn (+38%). 1.7 Within managed solutions, 0.3 wrapper solutions almost tripled 0.8 1.2
Slide 26: Agenda
AGENDA Preliminary remarks Our Vision: To Be the 1H 2021 Financial Results No.1 Private Bank unique by Value of Net Inflows, Assets and recruiting Service, Innovation and Sustainability Business update and closing remarks Appendix: Sector trend and business profile 26
Slide 27: Lux-Based Funds at All-Time High
LUX-BASED FUNDS AT ALL-TIME HIGH LUX IM DRIVING GROWTH OF IN-HOUSE FUNDS In-house Funds/SICAVs (BG FML), bn/€ LUX IM - Concentration by Strategies 100% 20.1 88% 94% 18.7 0.3 79% 16.9 0.3 65% 15.0 4.8 0.3 43% 14.1 5.0 0.2 19% 0.2 11.8 12.4 6.0 Top 5 Top 10 Top 20 Top 30 Top 40 Top 50 Total 74 7.5 11.
Slide 28: Lux-Based Funds at All-Time High
LUX-BASED FUNDS AT ALL-TIME HIGH LUX IM DRIVING GROWTH OF IN-HOUSE FUNDS In-house Funds/SICAVs (BG FML), bn/€ WAP1 of BG FML 20.1 18.7 0.3 117.4 16.9 0.3 4.8 114.3 15.0 0.3 14.1 5.0 0.2 0.2 110.4 11.8 12.4 6.0 107.4 7.5 11.1 15.0 101.7 9.3 9.9 13.4 101.6 10.6 100.0 6.4 3.7 97.7 2.5 2.5 2015 2016 201
Slide 29: In-House Management Company (BG FML)
IN-HOUSE MANAGEMENT COMPANY (BG FML) GROWTH OPPORTUNITIES FAR FROM FULLY EXPLOITED BG FML - Retail fund classes bn/€ Retail In-house Funds/Sicav on Tot. Assets 9.6 16% 0.2 8.8 13% 12% 12% 11% 10% 0.2 10% 7.2 3.0 6.5 0.2 3.0 6.1 6.2 2015 2016 2017 2018 2019 2020 1H21 5.5 3.4 Retail funds: In-house vs
Slide 30: Review of In-House Fund Offer
REVIEW OF IN-HOUSE FUND OFFER LUX IM: NEW FEATURES TO PURSUE GROWTH AND PROFITABILITY LUX IM - Goals LUX IM - Guidelines of New offer Thematic Investing ESG Investing • From 14 to 28 ESG funds • From 12 to 16 new sub-funds (art.8/art.9) • Capturing demand for innovation • Capturing demand for innova
Slide 31: Pricing Review - Final Stage
PRICING REVIEW - FINAL STAGE NEW PERFORMANCE FEES CALCULATION MECHANISM — Mechanism: High Water Mark equivalent to the maximum NAV reached by the fund. It allows performance fees to be withdrawn only upon reaching a new High 1 HWM Water Mark — Reference period: from inception — Crystallization: dail
Slide 32: Closing Remarks
CLOSING REMARKS Objective KPIs 2021 Targets 1H21 YTD Results Score Cumulative Net Inflows (bn/€) >14.5 bn/€ 14.8 bn/€ Asset growth Total Assets (bn/€) 76-80 bn/€ 80.4 bn/€ Core Net Banking Income1 ≥63 bps 67 bps Sustainable profitability ‘Core’ Operating Costs1: 3%- 5% CAGR 4.6%2 €1.25 DPS floor on
Slide 33: Agenda
AGENDA Preliminary remarks Our Vision: To Be the 1H 2021 Financial Results No.1 Private Bank unique by Value of Net Inflows, Assets and recruiting Service, Innovation and Sustainability Business update and closing remarks Appendix Financials back-up Business Initiatives - others Sector data an
Slide 34: Net Financial Income: High Quality Banking Portfolio
NET FINANCIAL INCOME HIGH QUALITY BANKING PORTFOLIO Total Assets bn/€ Granted loans, bn/€ Collateral assets, bn/€ 4.8 15.7 3.3 4.6 High-quality loan profile 3.1 with a ratio of collateral 1.6 assets to drawn loans at 2020 1H21 2020 1H21 208% 2.3 2 Drawn loans/ Collateral assets/ 73% 70% 203% 208% Gr
Slide 35: BG FML – Fee Structure
BG FML – FEE STRUCTURE REPRICING ACTIONS Impact of new performance 2016-2020 Variable fees m/€ fees mechanism m/€ Gross management fees m/€ New mechanism for performance fee Organic review of the fee structure calculation presented to CSSF for (both admin. and management fees approval 1 based on pri
Slide 36: Agenda
AGENDA Preliminary remarks Our Vision: To Be the 1H 2021 Financial Results No.1 Private Bank unique by Value of Net Inflows, Assets and recruiting Service, Innovation and Sustainability Business update and closing remarks Appendix Financials back-up Business Initiatives - others Sector data an
Slide 37: 2021 Business Initiatives
2021 BUSINESS INITIATIVES Details in the next slides KEY BUSINESS DRIVERS NEW REVENUE STREAMS NEW BUSINESS LEVERS BG FUND A D ADVANCED ADVISORY G LOMBARD LENDING MANAGEMENT LUX B ESG E BROKERAGE H PRIVATE MARKETS STRUCTURED PRODUCTS INTERNATIONAL C INSURANCE F I EXPANSION & PRIMARY MARKET 37
Slide 38: Key Business Drivers - LUX IM
A KEY BUSINESS DRIVERS - LUX IM NEW TOOLS SUPPORTING LUX IM GROWTH Savings Plans: Net inflows in LUX IM m/€ Switch Plans: Net Inflows in Funds m/€ 1100 1067 Strong delivery of new tools 27000 886 1000 900 18000 linked to LUX IM: 24000 900 800 16000 21000 PAC (Savings plans): 800 700 651 14000 almost
Slide 39: Key Business Drivers - ESG
B KEY BUSINESS DRIVERS - ESG DISTINCTIVE APPROACH TO ESG DELIVERING ABOVE EXPECTATION Distinctive commercial approach ESG Integration Company exclusions: Fund selection and ranking Violation of the UN Global UN SDGs 100% Compact Ten Principles Distinctive ESG Advanced fund of assets analysis by ES
Slide 40: Key Business Drivers - ESG Assets
B KEY BUSINESS DRIVERS - ESG ASSETS OVER €700 MILLION NET INFLOWS AT 1H 2021 Cumulative Net inflows in ESG1 products since inception, bn/€ Assets in ESG1 products, bn/€ ESG1 as % of Managed Solutions 2.7 14.3% 2.5 5.9 13.6% 5.4 4.9 13.0% 2.0 1.3 1.2 3.8 1.4 11.0% 0.9 1.2 3.1 1.0 0.6 2.3 9.2% 0.5 0.5
Slide 41: Clients of Banca Generali Have an ESG Focus
B CLIENTS OF BANCA GENERALI HAVE AN ESG FOCUS MEASURING IMPACT ACCORDING TO THE SDGS Based on our proprietary ESG platform we can analyse the positive impact of our clients’ sustainable investments, and which SDGs clients focus on Our clients’ sustainable investment feats in 2020: Our clients have a
Slide 42: Key Business Drivers - Insurance
C KEY BUSINESS DRIVERS - INSURANCE INSURANCE OFFER TURNING TOWARDS WRAPPER SOLUTIONS Insurance assets bn/€ Insurance products Growing focus on wrapper solutions in light of current ultra-low rate 25.3 26.1 26.5 environment • Hybrid solution combining on average 30-40% of LOB1 with single funds/secur
Slide 43: New Revenue Streams
D-E-F NEW REVENUE STREAMS GROWING DELIVERY ACROSS ALL PRODUCT LINES Assets under advisory (AuA) bn/€ +34% ≥ 30 6.5 6.8 Advanced Advisory fees ADVANCED ADVISORY 6.0 15.6 5.1 5.4 11.6 (+34%) growing steadily on 4.6 7.4 higher volumes (+33%) and stable gross margin (47bps) 1H20 1Q21 1H21 2021E 1Q 2Q 3Q
Slide 44: New Business Levers - Lombard Lending
G NEW BUSINESS LEVERS - LOMBARD LENDING STEADY GROWTH IN SECURED LOANS Drawn loans, bn/€ Loans trend, bn/€ 2.3 2.2 4.8 Steady growth in new loans 4.6 1H21 new drawn loans at €87 vs. 2.1 €45m in 1H20 (€264m in 2020) 2.0 2.0 2.0 3.3 3.1 Well diversified and secured lending Lending policy focused on th
Slide 45: New Business Levers - Private Markets
H NEW BUSINESS LEVERS - PRIVATE MARKETS GROWING SUBSCRIPTION BG’s way to Private markets Client target Subscriptions in progress Clients’ AUM thresholds for access to Assets growing steadily to the product: €155m YTD amid strict • FIA – for Clients with AUM> €500K thresholds and enhanced • ELTIF - f
Slide 46: New Business Levers - International Expansion
I NEW BUSINESS LEVERS - INTERNATIONAL EXPANSION TEMPORARY SLOWDOWN DUE TO THE PANDEMIC AND LOWER RISK PERCEPTION Three drivers Assets, bn/€ Increased need to obtain a Swiss banking licence in order to capitalise 1.2 1.2 1.2 on the opportunities offered by the context BGIA is the key tool to better s
Slide 47: Agenda
AGENDA Preliminary remarks Our Vision: To Be the 1H 2021 Financial Results No.1 Private Bank unique by Value of Net Inflows, Assets and recruiting Service, Innovation and Sustainability Business update and closing remarks Appendix Financials back-up Business Initiatives - others Sector data an
Slide 48: Snapshot on Italian Household Wealth
SNAPSHOT ON ITALIAN HOUSEHOLD WEALTH A WEALTHY COUNTRY FROM AN HOUSEHOLD STANDPOINT Italian Total Net Household Wealth, €/trillion Breakdown of Italian financial wealth, ‘000 bn/€ Insurance, Pension Others 9.5 9.5 9.6 9.6 9.9 9.8 9.8 9.9 9.8 9.9 9.9 10.0 10.1 9.8 funds, Severance Indemnity fund 0.1
Slide 49: FA Networks (Assoreti) 1/2
FA NETWORKS (ASSORETI) 1/2 FA ASSETS TRIPLED IN THE LAST 10 YEARS Financial Assets managed by FAs (Assoreti), bn/€ New entrants 694 667 ISPB 620 53 49 519 514 38 471 115 117 434 101 112 • The FA sector 99 93 279 315 89 manages almost 236 231 257 417 470 503 524 €700bn assets, 378 415 345 representin
Slide 50: FA Networks (Assoreti) 2/2
FA NETWORKS (ASSORETI) 2/2 HIGH CONCENTRATION AS SIZE MATTERS FA Networks - Ranking by asset size on the Italian market, bn/€ 19.7% 16.8% 12.6% 12.2% 136.8 11.0% 116.8 8.4% 87.6 6.8% 84.4 76.3 58.4 47.3 3.6% 2.3% 1.6% 1.5% 1.1% 1.1% 25.2 0.9% 16.3 11.3 10.2 7.7 7.4 6.2 0.2% 1.5 50 Source: Assoreti (
Slide 51: Italian Private Banking (AIPB)
ITALIAN PRIVATE BANKING (AIPB) FA ASSETS TRIPLED IN THE LAST 10 YEARS Private Banking Assets in Italy, bn/€ Change in perimeter AIPB 1,205 • Private wealth 1,081 1,050 1,125 955 985 1,017 1,029 882 904 241 273 growing 859 275 272 277 253 44 49.0 steadily and 469 29 35 40 443 458 474 25 representing
Slide 52: Growing Market Share in Any Reference Market
BANCA GENERALI GROWING MARKET SHARE IN ANY REFERENCE MARKET Reference market Size of the market Banca Generali’s market share (%) 2010 2016 2020 Italian FAs sector (Assoreti) €667 billion 10.0% 12.6% 14.3%1 Italian Private Financial Wealth €1,205 billion 1.1% 2.8% 4.1%2 (AIPB) Total Italian financia
Slide 53: Agenda
AGENDA Preliminary remarks Our Vision: To Be the 1H 2021 Financial Results No.1 Private Bank unique by Value of Net Inflows, Assets and recruiting Service, Innovation and Sustainability Business update and closing remarks Appendix Financials back-up Business Initiatives - others Sector data an
Slide 54: Investment Solutions
INVESTMENT SOLUTIONS DIVERSIFICATION IN ASSET CLASSES AND INVESTMENT TOOLS Total Asset by product mix Total Assets 80.4 bn/€ Retail fund offer (27% of total assets) Traditional Life Insurance combining in-house and open architecture approach with over 5,500 different retail funds and 55 asset mana
Slide 55: Retail Fund Offer
RETAIL FUND OFFER WIDE RANGE OF OPTIONS FOR FINANCIAL ADVISORS AND CLIENTS Third party funds - open architecture In-house funds • Over 5,500 different retail funds and 55 asset • LUX IM, launched at the beginning of 2018, has now 103 managers offering Clients a wide array of choice Features and rati
Slide 56: Insurance Offer
INSURANCE OFFER GROWTH LED BY INSURANCE WRAPPERS Traditional policies Insurance wrappers Traditional Generali life products based on Hybrid insurance policy combining traditional life and unit- linked component segregated accounts mainly investing in Features and rationale bonds Highly tailore
Slide 57: Financial Wrappers
FINANCIAL WRAPPERS FOCUS ON BESPOKE SOLUTIONS Financial wrappers Portfolio management lines maximizing financial advisors’ Specialist teams allowing for maximum diversification Features and rationale freedom to customize asset allocation Relative portfolio lines (equity, bonds, balanced) All
Slide 58: Banking Platform
BANKING PLATFORM FACILITATING CLIENTS’ ACQUISITION AND RETENTION Current accounts Security deposits • Clients’ entry products when moving assets from Features and rationale • Full array of banking services covering Clients’ transactional needs by traditional banks • No interest rates promotions to a
Slide 59: Wealth Management Approach
WEALTH MANAGEMENT APPROACH ADVISORY OPTIONS SPAN BOTH FINANCIAL AND NON FINANCIAL WEALTH Real estate Financial assets Assets under Advanced Open architecture Advisory* (€bn) Advisory and % of total assets In-house funds Valuation Bespoke financial 8.1% Agency & insurance solutions Bank
Slide 60: Robo-4-Advisor
ROBO-4-ADVISOR AN ADDITIONAL TOOL WITHIN ADVANCED ADVISORY FRAMEWORK • Robo-4-Advisors solution to support FA’s productivity • Mifid-compliant tool allowing check of client portfolios’ suitability on an ongoing basis • Additional service provided within the advance advisory framework What is BGPA Ob
Slide 61: BG Saxo
BG SAXO AN EXCLUSIVE PARTNERSHIP FOR ADVANCED TRADING Dedicated Joint-Venture with a brokerage firm – 19.9% BG, 80.1% Saxo Bank Exclusive partnership for the Italian market Joint-Governance – with veto right for BG on selected subjects Revenue sharing agreement based on source of clients Why
Slide 62: A Multi-Year Network Repositioning Effort
A MULTI-YEAR NETWORK REPOSITIONING EFFORT FOCUS ON BEST-IN-CLASS FAS AS A KEY COMPETITIVE ADVANTAGE Banca Generali FA Network, # of Advisors PHASE 1 PHASE 2 2,040 2,087 2,006 1,936 1,985 1,862 1,793 1,841 1,645 1,715 1,635 1,564 1,499 1,471 1,453 1,475 2005 2006 2007 2008 2009 2010 2011 2012 2013 20
Slide 63: FA Retention
FA RETENTION VERY HIGH RETENTION LEVELS Retention of Headline FAs Retention of Core FAs 99.2% 99.4% 99.4% 97.3% 97.4% 98.7% 98.7% 98.6% 98.6% 97.1% 98.0% 96.2% 96.2% 96.1% 95.8% 95.3% 2013 2014 2015 2016 2017 2018 2019 2020 2013 2014 2015 2016 2017 2018 2019 2020 Based on total number of FAs leaving
Slide 64: Well-Balanced Quality of FAs Across Different Vintages
WELL-BALANCED QUALITY OF FAS ACROSS DIFFERENT ‘VINTAGES’ EXISTING FAS SET THE TARGET FOR NEW RECRUITS Asset breakdown Portfolio build-up by cluster (m/€) by cluster of FAs 35.8 Portfolio growth is 1,887 68.7 Cluster 1 building up over time FA ≤ 2013 reflecting client and 37% 38% asset acquisitions 2
Slide 65: Recruitment Policy
RECRUITMENT POLICY CHERRY-PICKING THE BEST TALENTS ACROSS THE ENTIRE INDUSTRY Recruitment trend Cumulated recruitment from banks and FA Networks, 2013-2020 (# of Recruits) 161 153 Other Retail & Private Banks Networks 9% Bank 1 Network 5 13% 126 Network 4 2% 66% 4% 105 565 102 94 Network 3 # recruit
Slide 66: Tech Strategy Based on an Open Banking Approach
TECH STRATEGY HAS BEEN BASED ON AN OPEN BANKING APPROACH LEVERAGING THE BEST EXPERTISE ON THE MARKET Integration of best technologies in a short period of time by leveraging on our partnerships to establish «win-win» solutions Certificates Workflow Contact Robo 4 Home/Mobile Trading Crypto Advisory
Slide 67: Digital Tools and Services (1/2)
DIGITAL TOOLS AND SERVICES (1/2) ENHANCE DIRECT CONNECTION WITH CLIENTS Digital touchpoints & Digital Onboarding & Trading platform: Mobile Banking App Digital payments BG SAXO New Mobile Banking App - Trading Platform: BG SAXO with a innovative customer experience and segmented platform offer w
Slide 68: Digital Strategy (2/2)
DIGITAL STRATEGY (2/2) TOOLS TO SUPPORT FINANCIAL ADVISORS Wealth Advisory Portal Robo 4 Advisor BG Store Digital Collaboration Deep-dive Analysis Support FA Daily Activity: The FAs’ digital desk Paperless Approach 68
Slide 69: Disclaimer
DISCLAIMER The manager responsible for preparing the company’s financial reports (Tommaso Di Russo) declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law of Finance, that the accounting information contained in this presentation corresponds to the document results, books and a
Slide 70: 2021 Upcoming Events
2021 UPCOMING EVENTS Investor Relations Contacts NOVEMBER 9M 2021 Results Su Mo Tu We Th Fr Sa Conference Call Giuliana Pagliari 1 2 3 4 5 6 Investor Relations Manager 7 8 9 10 11 12 13 Phone +39 02 408 26548 14 15 16 17 18 19 20 Mobile +39 331 65 30 620 21 22 23 24 25 26 27 E-mail: giuliana.pagliar