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Brandfinance® Banking 500 League Table Report
In association with March 2013 BrandFinance® Banking 500 League Table Report 1 Contents 1. Executive Summary 3 8. Comparison against peers 34 Wells Fargo’s results 2. Brand Strength Index 7 9. A market perspective 38 Equity analyst overview 3. Valuation Assumptions 12 10. Appendix One 42 Comparison of brand valuation methodologies 4. Valuation Approach 15 11. Appendix Two 46 Royalty Relief About Brand Finance 5. Trade Mark review 28 6. Visual Identity Review 30 7. CSR Review 32 2 Section 1 01 Executive Summary 3 Values in US$ million 2012 2013 % Brand Value $23,229 $26,044 +12% Market Cap $133,472 $182,986 +37% BV / MC 17% 14% Brand Rating AA+ AA+ Source: 2013 BrandFinance® Banking 500 4 35,000 28,944 30,000 26044 25,000 23,229 21,916 20,000 15,000 Brand Brand Value US$ millions 10,000 5,000 0 2010 2011 2012 2013 Wells Fargo Year Banking 500 Rank Brand Value Market Cap BV/MCAP Brand Rating 2013 1 26,044 182,986 14% AA+ 2012 2 23,229 133,472 17% AA+ 2011 2 28,944 136,069 21% AA+ 2010 4 21,916 131,225 17% AA Source: 2013 BrandFinance® Banking 500 5 Comparison to 2012 Market Cap has increased by 37%% $183 billion Brand value has decreased by 12% to $26 billion Comparison to 2012 200,000 182,986 180,000 160,000 +37% 140,000 133,472 120,000 100,000 EnterpriseMarket Cap value Brand Value USD MillionsUSD 80,000 60,000 40,000 23,229 +12% 26,044 20,000 0 2012 2013 Source: 2013 BrandFinance® Banking 500 6 Section 2 02 Brand Strength Index 7 Brand Strength Index How is it derived? To conduct the valuation, it is necessary to determine the strength of the brand against other brands under review. -
Opportunities Amid Crisis
Banks Opportunities amid crisis 1Q20 preview: Lower NIMs, healthier-than-expected loan growth, and stable credit costs For 1Q20, we expect banks under our coverage—Shinhan Financial Group (SFG), KB Industry Report Financial Group (KBFG), Hana Financial Group (HFG), Industrial Bank of Korea (IBK), April 22, 2020 BNK Financial Group (BNKFG), DGB Financial Group (DGBFG), and JB Financial Group (JBFG)—to post combined net profit attributable to controlling interests of W3tr (-7.5% YoY), in line with the recently lowered consensus. Whil e we see net profit declining YoY on high base effects (due to provision reversals a year ago), we still think banks Mirae Asset Daewoo Co., Ltd. performed decently amid growing concerns over the economy. We estimate bank net [Banks/Credit Cards ] interest margins (NIMs) fell 4-5bps QoQ, but we believe loa n growth was healthier than expected, as large banks’ won-denominated loans likely expanded 2.5% QoQ on Heather Kang average. We estimate credit costs increased 17% YoY, while the ratio of credit costs to +822 -3774 -1903 total credit was likely stable at 38bps (vs. 35bps in 1Q19, when reversals of provisions [email protected] were included). 2020 forecast: Net profit to decline 7%; ROE of 7.4% Concerns are growing over the potential impact of COVID-19 on banks (asset quality and credit costs) and the broader economy, as it is still unknown how long the outbreak will last and what its impact will be. Unlike previous financial crises that were triggered by large conglomerates or banks, we think the potential upcoming crisis is very likely to start from micro businesses, small merchants, and SMEs, before spreading gradually to larger enterprises. -
Fidelity® Emerging Markets Index Fund
Quarterly Holdings Report for Fidelity® Emerging Markets Index Fund January 31, 2021 EMX-QTLY-0321 1.929351.109 Schedule of Investments January 31, 2021 (Unaudited) Showing Percentage of Net Assets Common Stocks – 92.5% Shares Value Shares Value Argentina – 0.0% Lojas Americanas SA rights 2/4/21 (b) 4,427 $ 3,722 Telecom Argentina SA Class B sponsored ADR (a) 48,935 $ 317,099 Lojas Renner SA 444,459 3,368,738 YPF SA Class D sponsored ADR (b) 99,119 361,784 Magazine Luiza SA 1,634,124 7,547,303 Multiplan Empreendimentos Imobiliarios SA 156,958 608,164 TOTAL ARGENTINA 678,883 Natura & Co. Holding SA 499,390 4,477,844 Notre Dame Intermedica Participacoes SA 289,718 5,003,902 Bailiwick of Jersey – 0.1% Petrobras Distribuidora SA 421,700 1,792,730 Polymetal International PLC 131,532 2,850,845 Petroleo Brasileiro SA ‑ Petrobras (ON) 2,103,697 10,508,104 Raia Drogasil SA 602,000 2,741,865 Bermuda – 0.7% Rumo SA (b) 724,700 2,688,783 Alibaba Health Information Technology Ltd. (b) 2,256,000 7,070,686 Sul America SA unit 165,877 1,209,956 Alibaba Pictures Group Ltd. (b) 6,760,000 854,455 Suzano Papel e Celulose SA (b) 418,317 4,744,045 Beijing Enterprises Water Group Ltd. 2,816,000 1,147,720 Telefonica Brasil SA 250,600 2,070,242 Brilliance China Automotive Holdings Ltd. 1,692,000 1,331,209 TIM SA 475,200 1,155,127 China Gas Holdings Ltd. 1,461,000 5,163,177 Totvs SA 274,600 1,425,346 China Resource Gas Group Ltd. -
Berenberg Sustainability Report 2019
2019 Sustainability report for the financial year 2019 CONTENTS Foreword 3 Business model and environment 5 Organisational profile 6 Strategy and business divisions 7 Wealth and Asset Management central business unit 8 Investment Bank and Corporate Banking central business unit 9 Cross-divisional services 9 Significant changes in the reporting year 10 Our business environment 12 Risk management 14 Key performance indicators 16 Environment 17 Management approach 18 Outcomes and performance indicators 20 Use of natural resources 20 Measures to reduce carbon emissions 21 Project financing to promote sustainable technologies 23 Employees 24 Management approach 25 Outcomes and performance indicators 27 Recruiting the next employee generation 27 Goal-based personnel development 29 Attractive employee benefits 29 Work/life balance 30 Diversity 31 1 CONTENTS Society 32 Management approach 33 Outcomes and performance indicators 35 Sustainable investments and products that benefit society 35 Social involvement 37 Human rights 41 Management approach 42 Outcomes and performance indicators 44 Equal treatment of all employees 44 Compliance with minimum standards in the supply chain 45 Anti-corruption and fraud 46 Management approach 47 Outcomes and performance indicators 50 Client perspective: know your customer 50 Employee perspective: protection of employees 51 About this report 52 Reporting principles 52 Frameworks and selection of reporting topics 52 2 The Managing Partners (from left to right): Dr Hans-Walter Peters and Hendrik Riehmer Dear clients and business associates, Acting responsibly is the hallmark of our corporate values, and is also our guiding principle. Being successful on the market for over four hundred years requires a value creation process that is geared to the long term. -
LATAM and Emerging Markets Conference Calendar 2021 Confirmed Date and Format to Be Confirmed
LATAM and Emerging Markets Conference Calendar 2021 Confirmed Date and format to be confirmed 2021 June From To Location Conference Institution Latin America EMEA Global ESG 3 4 Virtual BofA Securities 2021 Emerging Markets Debt & Equity Conference BofA X X 6 6 Virtual BofA Securities Virtual Energy Credit Conference BofA X 7 11 Virtual 15th Annual Transport and Logistics Conference HSBC X 8 10 Virtual 2021 Global Energy Conference Credit Suisse X 8 9 Virtual 12th BBI London Virtual Conference Bradesco X 8 9 Virtual Global Industrials and Transportation Virtual Conference UBS X 9 9 Virtual Morgan Stanley Sustainable Futures Conferece Morgan Stanley X X 15 15 Virtual Scotiabank Latam Financials Forum Scotiabank X 23 23 Virtual UBS Virtual Latam Conference UBS X 23 23 Virtual 2021 Energy, Power and Renewables Conference JP Morgan X 30 30 Virtual BTG LatAm Opportunities Conference BTG Pactual X 29 1-Aug Virtual HSBC Financials Conference - a path to sustainability HSBC X X 30 1-Aug Virtual 2021 Brazil Transportation & Infrastructure Conference Credit Suisse X July From To Location Conference Institution Latin America EMEA Global ESG 8 8 Virtual 1st Credit Suisse ESG Forum Switzerland Credit Suisse X August From To Location Conference Institution Latin America EMEA Global ESG 11 13 Virtual 4th Annual FinTech Conference Credit Suisse X 25 26 Virtual CITI-SGX-REITAS REITS / SPONSORS FORUM Citi X September From To Location Conference Institution Latin America EMEA Global ESG 9 9 London Sustainability, ESG and Alpha Summit Citi X X 8 10 NYC 15th -
In a Year of Contraction, Asia Feels the Ripple Effect of Mifid II 2016 Greenwich Leaders: Asian Equities
In a Year of Contraction, Asia Feels the Ripple Effect of MiFID II 2016 Greenwich Leaders: Asian Equities Q1 2017 Three global brokers are pulling away from the pack in the Asian equity research/advisory business—a break from historical patterns characterized by a more gradual slope among major competitors. Credit Suisse, Bank of America Merrill Lynch and Morgan Stanley are statistically deadlocked atop the list of 2016 Greenwich Leaders in Asian Equity Research/Advisory Vote Share. These three firms have opened a significant lead over UBS, CLSA Asia-Pacific Markets and J.P. Morgan, which are also virtually tied in terms of vote share and round out the list of this year’s winners. In Asian Equity Trading, the same three firms are statistically tied for the top spot in overall share, but in this business, their lead over fellow Greenwich Share Leaders CLSA, UBS and Citi is much narrower. In the growing algorithmic trading business, Bank of America Merrill Lynch widened its lead over the competition. Credit Suisse and Morgan Stanley claim the title of 2016 Greenwich Quality Leaders in Asian Equity Research Product & Analyst Service, and Greenwich Share Leaders — 2016 GREENWICH ASSOCIATES Greenwich Share20 1Leade6r Asian Equity Research/Advisory Vote Share Asian Equity Algorithmic Trading Share Broker Statistical Rank Broker Statistical Rank Credit Suisse 1T Bank of America Merrill Lynch 1 Bank of America Merrill Lynch 1T UBS 2T Morgan Stanley 1T Morgan Stanley 2T UBS 4T Credit Suisse 2T CLSA Asia-Pacific Markets 4T Goldman Sachs 5T J.P. Morgan 4T Citi 5T ITG 5T Asian Equity Trading Share, Options & Volatility Product Important Relationships—Asia Broker Statistical Rank* Broker Statistical Rank Morgan Stanley 1T Morgan Stanley 1T Bank of America Merrill Lynch 1T Goldman Sachs 1T Credit Suisse 1T Bank of America Merrill Lynch 3T CLSA Asia-Pacific Markets 4T Deutsche Bank 3T UBS 4T J.P. -
Emerging Index - QSR
2 FTSE Russell Publications 19 August 2021 FTSE RAFI Emerging Index - QSR Indicative Index Weight Data as at Closing on 30 June 2021 Index Index Index Constituent Country Constituent Country Constituent Country weight (%) weight (%) weight (%) Absa Group Limited 0.29 SOUTH BRF S.A. 0.21 BRAZIL China Taiping Insurance Holdings (Red 0.16 CHINA AFRICA BTG Pactual Participations UNT11 0.09 BRAZIL Chip) Acer 0.07 TAIWAN BYD (A) (SC SZ) 0.03 CHINA China Tower (H) 0.17 CHINA Adaro Energy PT 0.04 INDONESIA BYD (H) 0.12 CHINA China Vanke (A) (SC SZ) 0.09 CHINA ADVANCED INFO SERVICE 0.16 THAILAND Canadian Solar (N Shares) 0.08 CHINA China Vanke (H) 0.2 CHINA Aeroflot Russian Airlines 0.09 RUSSIA Capitec Bank Hldgs Ltd 0.05 SOUTH Chongqing Rural Commercial Bank (A) (SC 0.01 CHINA Agile Group Holdings (P Chip) 0.04 CHINA AFRICA SH) Agricultural Bank of China (A) (SC SH) 0.27 CHINA Catcher Technology 0.2 TAIWAN Chongqing Rural Commercial Bank (H) 0.04 CHINA Agricultural Bank of China (H) 0.66 CHINA Cathay Financial Holding 0.29 TAIWAN Chunghwa Telecom 0.32 TAIWAN Air China (A) (SC SH) 0.02 CHINA CCR SA 0.14 BRAZIL Cia Paranaense de Energia 0.01 BRAZIL Air China (H) 0.06 CHINA Cemex Sa Cpo Line 0.7 MEXICO Cia Paranaense de Energia (B) 0.07 BRAZIL Airports of Thailand 0.04 THAILAND Cemig ON 0.03 BRAZIL Cielo SA 0.13 BRAZIL Akbank 0.18 TURKEY Cemig PN 0.18 BRAZIL CIFI Holdings (Group) (P Chip) 0.03 CHINA Al Rajhi Banking & Investment Corp 0.52 SAUDI Cencosud 0.04 CHILE CIMB Group Holdings 0.11 MALAYSIA ARABIA Centrais Eletricas Brasileiras S.A. -
Stephan Hutter Additional Experience Partner, Frankfurt Capital Markets
Dr. Stephan Hutter Additional Experience Partner, Frankfurt Capital Markets Transactions handled by Dr. Hutter prior to joining Skadden include advising: - the initial purchasers, led by BNP Paribas, Deutsche Bank, HSBC and J.P. Morgan, in a €2 billion high-yield bond offering ofSchaeffler Finance B.V.; - the underwriters, led by BofA Merrill Lynch, Mediobanca and UniCredit, in a €7.5 billion rights offering and a €4 billion rights offering ofUniCredit S.p.A.; - the underwriters, led by Berenberg Bank and UniCredit, in the IPO of Prime Office REIT AG; - Aareal Holding in a capital increase of Aareal Bank AG; - the initial purchasers, led by Credit Suisse, Deutsche Bank and J.P. Morgan, in a €2 billion high- yield bond offering byKabel Baden-Württemberg (IFLR Europe’s High Yield Deal of the Year 2012); T: 49.69.74.22.0170 F: 49.69.742204.70 - the initial purchasers, led by Citigroup, RBS and Deutsche Bank, in several high-yield bond offer- [email protected] ings in an aggregate issue volume of €3 billion of Conti-Gummi Finance B.V. (IFLR Europe’s Debt and Equity-Linked Deal of the Year 2011); - A-TEC Industries AG in its IPO and several subsequent capital increases (including a convertible bond offering); - the underwriters, led by Morgan Stanley and Commerzbank, in the IPO of Air Berlin Plc; and Deutsche Bank, Morgan Stanley and Commerzbank in a capital increase by Air Berlin Plc and a convertible bond offering byAir Berlin Finance BV; - the underwriters, led by Credit Suisse, Morgan Stanley and HVB, in the IPO of Premiere; J.P. -
Emerging Markets Equity Income Fund MARKETING COMMUNICATION
WELLS FARGO (LUX) WORLDWIDE FUND | QUARTERLY COMMENTARY Q2 2021 | All information is as of 30 Jun 2021 unless otherwise indicated. Emerging Markets Equity Income Fund MARKETING COMMUNICATION Quarterly review GENERAL FUND INFORMATION ● The Emerging Markets Equity Income Fund underperformed the MSCI Emerging Portfolio managers: Alison Shimada, Markets Index (Net) but outperformed the MSCI Emerging Markets High Dividend and Elaine Tse Yield Index (Net) for the quarter that ended 30 June 2021. ● Positioning in communication services, utilities, South Africa and the Philippines Sub-adviser: Wells Capital contributed to relative attribution but was outweighed by negative stock selection in Management, Incorporated information technology (IT), industrials, China/Hong Kong and Taiwan. Benchmark: MSCI Emerging Markets Index (Net) Market review Fund inception: 29 Jun 2012 The MSCI Emerging Markets Index (Net) advanced 5.05% during the second quarter, INVESTMENT OBJECTIVES the fifth consecutive quarter of positive returns, taking the year-to-date return to AND PROCESS 7.45% and the one-year return to 40.90%. The MSCI Emerging Markets High Dividend ● The fund seeks long-term capital Yield Index (Net) underperformed, returning 2.31% during the second quarter. Ten out appreciation and current income. of eleven sectors generated positive returns during the quarter, including health care, ● The fund invests at least 80% of its industrials and energy. Real estate was the only sector that posted a negative return. At assets in dividend-paying emerging the country level, 17 out of 27 countries advanced, including Brazil, Poland, Hungary, market equity securities (companies the Czech Republic, Russia, the United Arab Emirates (UAE) and Saudi Arabia. -
MIRAE ASSET DAEWOO INTEGRATED REPORT About This Report
2020 2020 MIRAE ASSET DAEWOO INTEGRATED REPORT REPORT DAEWOO INTEGRATED 2020 MIRAE ASSET MIRAE ASSET DAEWOO INTEGRATED REPORT GLOBAL INVESTMENT PARTNER INVESTMENT GLOBAL About This Report The 2020 Mirae Asset Daewoo Integrated Report was created with an aim of reviewing our sustainability management activities and our achievements, and thus providing stakeholders with information in a transparent manner. Reporting Status This report is the ninth sustainability report since we published a sustainability report for the first time in the industry in 2006 and is the fourth after the merger with Mirae Asset Securities in December 2016. In addition, this report has been developed as an Integrated Report which consolidates an annual report and a sustainability report since 2018. Reporting Method and Period This report is compiled in accordance with the Core option of the Global Reporting Initiative (GRI) Standards, a global standard for sustainability reports, and the framework of the International Integrated Reporting Council (IIRC). It is also aligned to the 10 principles of the UN Global Compact, which the company has been upholding since 2006. The reporting period of this report is from January 1st 2019 to December 31st 2019, and some topics disclose three-year data from 2017 for trend comparison. Both financial information and non- financial information are reported according to the company’s fiscal years following our disclosure policy, and information that does not fit such criteria has footnotes added. This report also includes information on major activities executed in the first half of 2020. Reporting Scope The scope of information in this report encompasses the company headquarters, client center, domestic branch network, overseas subsidiaries and representative offices, and other areas where Mirae Asset Daewoo performs business activities. -
Berenberg Capital Markets LLC
Berenberg Capital Markets LLC Statement of Financial Condition December 31, 2018 FILED PURSUANT TO RULE 17A-S(e)(3) AS A PUBLIC DOCUMENT Berenberg Capital Markets LLC Contents Facing page to Form X-17A-5 ................................................................................................................. 3A Affirmation of Officer............................................................................................................................... 38 Independent Auditors' Report. ................................................................................................................. 4 Statement of Financial Condition as of December 31, 2018 .................................................................5 Notes to Statement of Financial Condition ........................................................................................ 6-14 2 UNITED~"'TATES 0MB APPROVAL SECURITIES AND EXCHANGE COMMISSION 0MB Number: 3235-0123 Washington, D.C. 20549 Expires: August 31, 2020 Estimated average burden ANNUAL AUDITED REPORT hours per response .... 12.00 FORM X-17A-5 SEC FILE NUMBER PART Ill 8-68821 FACING PAGE Information Required of Brokers and Dealers Pursuant to Section 17 of the Securities Exchange Act of 1934 and Rule l 7a-5 Thereunder REPORT FOR THE PERIOD BEGINNING__ __0_ 1_/_0_1_/1_8___ A ND ENDING___ 1_ 2_/_3_1_/1_8___ _ MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION NAME OF BROKER-DEALER: BERENBERG CAPITAL MARKETS LLC OFFICIAL USE ONLY ADDRESS OP PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) FIRM -
Espinal, Et Al. V. Didi Global Inc., Et Al. 21-CV-05807-U.S. District Court
Espinal v. Didi Global Inc. et al, Docket No. 1:21-cv-05807 (S.D.N.Y. Jul 06, 2021), Court Docket Current on Bloomberg Law as of 2021-07-08 13:03:33 U.S. District Court Southern District of New York (Foley Square) CIVIL DOCKET FOR CASE #: 1:21-cv-05807-LAK Espinal v. Didi Global Inc. et al Date Filed: Jul 6, 2021 Nature of suit: 850 Securities/ Commodities Assigned to: Judge Lewis A. Kaplan Cause: 15:77 Securities Fraud Jurisdiction: Federal Question Jury demand: Plaintiff Parties and Attorneys Plaintiff Rafaela Espinal individually and on behalf of all others similarly situated Representation Gregory Bradley Linkh Glancy Prongay & Murray LLP 230 Park Avenue Suite 358 New York, NY 10169 (212) 682-5340 [email protected] ATTORNEY TO BE NOTICED Defendant Didi Global Inc. formerly known as: Xiaoju Kuaizhi Inc. Defendant Will Wei Cheng © 2021 The Bureau of National Affairs, Inc. All Rights Reserved. Terms of Service // PAGE 1 Espinal v. Didi Global Inc. et al, Docket No. 1:21-cv-05807 (S.D.N.Y. Jul 06, 2021), Court Docket Defendant Alan Yue Zhuo Defendant Jean Qing Liu Defendant Stephen Jingshi Zhu Defendant Zhiyi Chen Defendant Martin Chi Ping Lau Defendant Kentaro Matsui Defendant Adria Perica Defendant Daniel Yong Zhang Defendant Goldman Sachs (ASIA) L.L.C. Defendant Morgan Stanley & Co. LLC Defendant J.P. Morgan Securities LLC Defendant Bofa Securities, Inc. Defendant Barclays Capital Inc. Defendant China Renaissance Securities (Hong Kong) Limited Defendant China International Capital Corporation Hong Kong Securities Limited © 2021 The Bureau of National Affairs, Inc.