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Powerpoint Presentatie Analyst Meeting Amsterdam, 1 December 2010 Programme 2.30 pm Ieko Sevinga Private Banking 3.00 pm Arjan Huisman Operations 3.30 pm – 4.00 pm Break 4.00 pm Constant Korthout Funding and Basel III 4.30 pm Floris Deckers Strategy & Outlook for the sector 5.30 pm Drinks & dinner 1 Analyst Meeting Ieko Sevinga, member of the Board of Managing Directors Van Lanschot’s strategy To offer high-quality financial services to wealthy individuals, Mission director-owners and other select client groups Van Lanschot aims to be the best private bank in the Netherlands Vision and Belgium To be able to measure the achievement of its vision, Van Lanschot Targets has formulated targets relating to clients and employees and 2010-2013 financial targets 1. Focus on private banking 2. Enhance commercial effectiveness Strategy 3. Invest continually in service quality 4. Maintain a solid profile Independent Professional Core values Committed Ambitious 3 Strategic priorities Focus on Full-service offering Private Acquisition focused on high net-worth individuals and Banking entrepreneurs and their businesses Enhance Growth of client satisfaction commercial Growth in number of clients effectiveness Growth in revenues Invest Customer care continually in Transparent and good product and service offering service quality Operational excellence Risk management Maintain Cost control a sound Stricter deployment of capital for clients with a view to expected profile higher capital requirements 4 Focused business model FULL SERVICE OFFERING Business Private Banking Banking Entrepreneurs Healthcare Foundations Business Wealthy Professionals & individuals Executives 5 Client segments Specialised team based in Private 4 offices Office Client assets € 10 million Served through Private Banking branch offices Client assets € 250,000 Centralised Private Banking Services services 6 Core product is asset management Exclusive products, structuring, Private specialities Office A La Carte Private Banking Select VIP Invest Private Banking Services (on-line offering) 7 Exclusive products for top segment Working together with private equity specialists Egeria Dutch specialist fund targeting mid-sized companies not listed on the stock exchange Leading expertise with a proven track record Investing in promising Dutch mid-sized family and other businesses 8 Shift to discretionary mandates Clients are increasingly opting for discretionary mandates Driven by success of new asset management proposition – A La Carte and Select Continuing outperformance on investment profiles Transparency – reimbursement of third party fund management fees A la Carte & Select Discretionary old Non discretionary Improves earnings profile Margin on discretionary assets of Dec-08 Dec-09 Jun-10 0.8% - 1.0% Margin on non-discretionary assets of 0.6% - 0.8% Discretionary and non-discretionary assets under management (relative values) 9 A La Carte: Outperformance of investment portfolios Income Growth Risk profile Conservative Neutral Aggressive oriented oriented Performance 2009 12.6% 17.2% 22.9% 27.9% 33.3% Outperformance of reference index 5.8% 5.4% 6.0% 5.9% 6.2% YTD (to September) 2010 4.9% 5.6% 7.1% 8.6% 9.3% Outperformance of reference index 0.4% 0.7% 1.9% 3.1% 3.3% 10 Majority of income and profit derived from core private banking & asset management activities 9% Private Income from Banking operating Asset 26% Management activities 58% Business Banking 7% Corporate Finance & Securities 8% 14% Operating profit 8% before tax 70% Breakdown based on the four business segments, excluding Other Activities; H1 2010 figures 11 Strategic priorities Focus on Full-service offering Private Acquisition focused on high net-worth individuals and Banking entrepreneurs and their businesses Enhance Growth of client satisfaction commercial Growth in number of clients effectiveness Growth in revenues Invest Customer care continually in Transparent and good product and service offering service quality Operational excellence Risk management Maintain Cost control a sound Stricter deployment of capital for clients with a view to expected profile higher capital requirements 12 Van Lanschot can improve its position in the HNW segment 13 Van Lanschot Private Office Offering high-quality (financial) services to high net-worth individuals, director owners, trust funds, family offices and institutions with CA > € 10m Integration of 3 teams (Van Lanschot Kempen, International Wealth Focus Management and Director-Owner Rotterdam) in new Van Lanschot Private Office Upgrading existing HNWI from branches to VLPO Double digit growth: outperform market average Client satisfaction: excellent performance and realise shortlist position for Objectives HWNI before 2014 Knowledge and competence centre for Van Lanschot group Fiduciary and discretionary management Open architecture advisory and brokerage Proposition Structuring and finance solutions Cash management and reporting tools Trust services and International Private Banking Offering HNWI access to professional network of Van Lanschot and Kempen & Co Best of both worlds Kempen & Co: - Corporate Finance, Equity Capital Markets, Securities and Trading - Asset Management and Multi-Management Research / Allocation Strategy 14 Private Banking – more effective organisation One team – Private Banking and Business Banking Private banking and Business banking operating as one unit, one management team and one set of goals Private bankers and business bankers working closely together to serve the entrepreneur Wealth Business Banking Private Banking Van Lanschot Start Grow Consolidation Protection/Transaction Business model at Van Lanschot 15 Client growth in the top segments - 13% 0% +14% +32% 7.3 7.0 6.4 31-12-2008 5.3 30-06-2010 4.9 4.9 2.3 2.0 0 - 0.25 m 0.25 m - 1 m 1 m - 5 m 5 m+ Private banking client assets by client segment (€ billion) 16 More efficient organisation Centralisation of mid-office Mid-office function centralised in Den Bosch Frees up time for bankers to spend on serving existing clients and acquiring new clients Centralised processes increase efficiency and lead to fewer errors Efficiency translates into faster lead times for clients -> increased client satisfaction 17 Corporate and local marketing Corporate marketing Centralised Recent campaign highlighting the personal story behind our bankers Local marketing Increasingly decentralised Local offices can decide themselves how to use their marketing budget 18 Any questions? Analyst Meeting Arjan Huisman, COO Strategic priorities Focus on Full-service offering Private Acquisition focused on high net-worth individuals and Banking entrepreneurs and their businesses Enhance Growth of client satisfaction commercial Growth in number of clients effectiveness Growth in revenues Invest Customer care continually in Transparent and good product and service offering service quality Operational excellence Risk management Maintain Cost control a sound Stricter deployment of capital for clients with a view to expected profile higher capital requirements 21 Status today Operations ITM Most IT related activities outsourced Most mid and back office activities have been IBM responsible for infrastructure centralised (no longer at the branches and regional KPN Getronics responsible for telephony and networks service centres) Accenture responsible for application But still too much manual management processing Outsourcing evaluated and improvement points defined Recently developed IT Road Map to define application development for coming years 22 Focus areas for operational excellence I. Simplification of organisational structure II. Product and process rationalisation III. Improvement of application architecture based on IT Road Map 23 I. Simplification of organisational structure Current structure Operations organised based on functional Product Management areas of expertise Process and Information Management In the process of Securities reorganising around product/ Financing process chains Payments and client administration Advantages of Innovations and process responsibility under combined simplified management structure More end-to-end process perspective 24 II. Product and process rationalisation E.g.: Reduce and A number of C&E products still to be phased out simplify Payment products have too many (unnecessary) features with products separate pricing E.g.: Harmonise products under single frame contract to minimise client hassle Simplify Electronic distribution of information processes Upgrade internet channel Investigate outsourcing of non-core activities such as payment processing First steps Account opening process for current, savings and securities completed accounts significantly streamlined for new customers (30% reduction of workload) 25 III. Improvement of application architecture Introduce Execution Only Implement new version of Eximius (portfolio management and Securities reporting tool) services Simplify Order Entry Upgrade back office administration Electronic filing Client Document flow management processes Workflow management Insurance Online Execution Only services VIPinvest Client administration 26 Clear guidelines for IT development Architecture Projects Developments as much as possible Projects divided into manageable within current architecture sub-projects which can be completed within at most 6-9 months and in that In the case of new applications: period can deliver tangible functional applications already implemented
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