DOCSLIB.ORG

Annual Report 2017

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2017 ANNUAL REPORT 2017 JULIUS BAER GROUP LTD. WorldReginfo - 8197e989-9573-4917-8e99-7f9c1203e9b9 Cover pictures: Impressions from inside the client reception area at the Head Office in Zurich. Welcome to Julius Baer! WorldReginfo - 8197e989-9573-4917-8e99-7f9c1203e9b9 Including integration and restructuring expenses as well as the amortisation of intangible assets related to previous acquisitions or divestitures, the net profit achieved in 2017 amounted to CHF 716 million. Excluding these items, the adjusted net profit for 2017 amounted to CHF 806 million. Further information on this basis can be found in the presentation and the media release on the 2017 financial results and the Business Review 2017. KEY FIGURES 2017 2016 Return on equity (ROE) 12.8% 12.1% - Return on tangible equity (ROTE)1 29.7% 28.2% - Cost/income ratio2 71.8% 72.2% - Cost/income ratio3 69.0% 68.9% - 31.12.2017 31.12.2016 Change % Consolidated balance sheet Total assets (CHF m) 97,917.6 96,207.2 1.8 Total equity (CHF m) 5,854.0 5,353.9 9.3 BIS CET1 capital ratio 16.7% 16.4% - BIS total capital ratio 22.0% 17.5% - Client assets (CHF bn) Assets under management 388.4 336.2 15.5 Total client assets 457.1 391.6 16.7 Personnel Number of employees (FTE) 6,292 6,026 4.4 of whom in Switzerland 3,423 3,237 5.8 of whom abroad 2,869 2,789 2.9 Number of relationship managers 1,396 1,383 0.9 1 Net profit of the shareholders of Julius Baer Group Ltd. less integration and restructuring expenses as well as amortisation of intangible assets/(half-yearly) average shareholders’ equity less goodwill and other intangible assets 2 Excluding valuation allowances, provisions and losses 3 Excluding valuation allowances, provisions and losses, and integration and restructuring expenses as well as amortisation of intangible assets Listing Zurich, Switzerland SIX Swiss Exchange under the securities number 10 248 496 Member of the Swiss Market Index SMI Ticker symbol BAER 2017 2016 Change % Information per share (CHF) Equity (book value, as at 31.12.) 27.3 25.0 9.1 EPS 3.25 2.85 Share price (as at 31.12.) 59.60 45.23 31.8 Market capitalisation (CHF m, as at 31.12.) 13,339 10,123 31.8 Moody’s long-term deposit rating Bank Julius Baer & Co. Ltd. Aa2 Aa2 - Capital structure (as at 31.12.) Number of shares, par value CHF 0.02 223,809,448 223,809,448 - Weighted average number of shares outstanding 216,894,003 217,404,899 - Share capital (CHF m) 4.5 4.5 - WorldReginfo - 8197e989-9573-4917-8e99-7f9c1203e9b9 FOREWORD DEAR READER 2017 proved to be a successful year for Julius Baer. Supported by an overall favourable financial market environment, the operating performance of our Group showed clear improvement on all levels as we reaped the fruits of last year’s strategic hiring initiative and organisational changes. These developments as well as the prestigious award as the World’s Best Bank for Wealth Management we received from Euromoney last summer are further validations of our long-term strategy. Building on our strong business momentum, we pushed ahead with the implementation of our strategic roadmap designed to keep our company fighting-fit for the future. The financial strength of our Group is a reflection of our clients’ trust in our ability to act as their advisors. The net profit for 2017 increased strongly, and net new money growth exceeded our medium-term target range of 4–6%. At the end of December 2017, the Group’s total capital ratio stood at 22.0% (fully applied 21.2%) and the BIS CET1 capital ratio was at 16.7% (fully applied 13.5%). Both capital ratios are well above the Group’s own floors of 15% and 11%, and significantly above the regulatory minimums of 12.2% and 8%. The strengthening of the total capital ratio was partly attributable to the successful placement of USD 300 million of perpetual non-cumulative high-trigger Additional Tier 1 (AT1) securities in September 2017, which generated the biggest subscription level of any European issue in 2017. In light of the excellent financial results, the Board of Directors intends to propose to the Annual General Meeting on 11 April 2018 an increased dividend of CHF 1.40 per share. The total proposed dividend payout amounts to CHF 313 million, up from CHF 269 million in 2017. Under the leadership of CEO Bernhard Hodler, appointed in November 2017, our management team will further sharpen our strategic focus on pure private banking and exploit the opportunities for profitable growth in our chosen markets. Our global franchise is well balanced across geographies and enables us to benefit from wealth creation in established and growth markets alike. At the same time, our industry is evolving at a fast pace. Changes in regulation and client needs redefine every aspect of our business, from the way we advise our clients to the products and services we offer and the job profiles of our employees. With digitalisation sweeping through virtually every aspect of modern life, technology becomes an increasingly important aspect of any value proposition. Continued development is key, and we are fortunate to be able to harness these trends from a position of strength. We continue to invest in our core banking platforms, the scalability of processes, our investment solutions capabilities and digital tools. The overarching objective is to provide our clients with holistic wealth management services that cover every stage of their individual lives. We call our approach 2 WorldReginfo - 8197e989-9573-4917-8e99-7f9c1203e9b9 FOREWORD Julius Baer – Your Wealth. It was introduced in 2015 with the offering of a range of new advisory mandates. The comprehensive toolset required for our relationship managers to deliver on this promise in a consistent and efficient manner will be fully rolled out in our Swiss home market in the coming months. In parallel, we are constantly enhancing our digital channels in line with clients’ evolving desire to interact, transact and receive advice and insights online. We regard these efforts as vital to our ability to offer a high-quality client experience, to remain one of the most trusted and respected private banks and to continue to grow profitably across the next business cycles. In our business, trust is earned day after day – with clients, shareholders, bond holders and employees. We would like to thank all our stakeholders for their appreciation of our efforts and we hope to count on their continued support. Daniel J. Sauter Bernhard Hodler Chairman Chief Executive Officer Zurich, March 2018 3 WorldReginfo - 8197e989-9573-4917-8e99-7f9c1203e9b9 CONTENTS I. CORPORATE GOVERNANCE II. REMUNERATION REPORT 9 GROUP STRUCTURE AND SHAREHOLDERS 40 LETTER TO OUR SHAREHOLDERS 11 CAPITAL STRUCTURE 42 COMPENSATION GOVERNANCE 13 BOARD OF DIRECTORS 46 GROUP PERFORMANCE AND VARIABLE COMPENSATION FUNDING 31 EXECUTIVE BOARD 49 EXECUTIVE BOARD AND SENIOR 34 RULES ABOUT COMPENSATION AND LOANS MANAGEMENT COMPENSATION WITHIN THE GROUP 62 OTHER EMPLOYEE COMPENSATION 35 SHAREHOLDERS’ PARTICIPATION RIGHTS (AS AT 31 DECEMBER 2017) 66 BOARD OF DIRECTORS COMPENSATION 36 CHANGES OF CONTROL AND 68 COMPENSATION, LOANS AND DEFENCE MEASURES SHAREHOLDINGS OF THE EXECUTIVE BOARD (AUDITED) 36 AUDIT 76 COMPENSATION, LOANS AND 38 INFORMATION POLICY SHAREHOLDINGS OF THE BOARD OF DIRECTORS (AUDITED) 80 ABBREVIATIONS 81 TERMINATION PROVISIONS OF JULIUS BAER PLANS 82 REPORT OF THE STATUTORY AUDITOR TO THE ANNUAL GENERAL MEETING OF JULIUS BAER GROUP LTD., ZURICH This Annual Report also appears in German. The English version is prevailing. 4 WorldReginfo - 8197e989-9573-4917-8e99-7f9c1203e9b9 CONTENTS III. FINANCIAL STATEMENTS 156 ADDITIONAL INFORMATION JULIUS BAER GROUP 2017 156 Reporting by segment 157 Related party transactions 158 Pension plans and other employee benefits 84 CONSOLIDATED FINANCIAL STATEMENTS 163 Securities transactions 84 Consolidated income statement 164 Derivative financial instruments 85 Consolidated statement of comprehensive income 166 Financial instruments by category 86 Consolidated balance sheet 169 Financial instruments – Fair value determination 88 Consolidated statement of changes in equity 173 Financial instruments – Transfers between level 1 90 Consolidated statement of cash flows and level 2 174 Financial instruments – Offsetting 92 SUMMARY OF SIGNIFICANT ACCOUNTING 175 Companies consolidated as at 31 December 2017 POLICIES 179 Investments in associates 103 COMMENT ON RISK AND CAPITAL 180 Unconsolidated structured entities MANAGEMENT 181 Acquisitions 186 Share-based payments and other 133 INFORMATION ON THE CONSOLIDATED compensation plans INCOME STATEMENT 191 Assets under management 133 Net interest and dividend income 194 Requirements of Swiss banking law 133 Net commission and fee income 194 Events after the balance sheet date 134 Net trading income 134 Other ordinary results 195 REPORT OF THE STATUTORY AUDITOR 134 Personnel expenses TO THE ANNUAL GENERAL MEETING OF 135 General expenses JULIUS BAER GROUP LTD., ZURICH 135 Income taxes 137 Earnings per share and shares outstanding 138 INFORMATION ON THE CONSOLIDATED BALANCE SHEET IV. FINANCIAL STATEMENTS 138 Due from banks JULIUS BAER GROUP LTD. 138 Loans 2017 139 Allowance for credit losses 139 Impaired loans 202 INCOME STATEMENT 140 Trading assets and liabilities 203 BALANCE SHEET 141 Financial investments available-for-sale 141 Financial investments available-for-sale – 204 NOTES Credit ratings 207 SHAREHOLDINGS OF THE BOARD OF 142 Goodwill, intangible assets and property DIRECTORS AND EXECUTIVE BOARD and equipment 145 Operating lease commitments 209 PROPOSAL OF THE BOARD OF DIRECTORS 145 Assets pledged or ceded to secure own TO THE ANNUAL GENERAL MEETING commitments and assets subject to retention of title ON 11 APRIL 2018 146 Financial liabilities designated at fair value 210 DIVIDENDS 147 Debt issued 150 Deferred tax assets 211 REPORT OF THE STATUTORY AUDITOR 151 Deferred tax liabilities TO THE ANNUAL GENERAL MEETING OF 152 Provisions JULIUS BAER GROUP LTD., ZURICH 155 Share capital This Annual Report also appears in German.
Load more

Recommended publications
  • 2020 Annual Report HIGHLIGHTS SHAREHOLDER MANAGEMENT SUSTAINABILITY CORPORATE COMPENSATION FINANCIAL APPENDIX LETTER COMMENTARY REPORT GOVERNANCE REPORT REPORT 2
    2020 Annual Report HIGHLIGHTS SHAREHOLDER MANAGEMENT SUSTAINABILITY CORPORATE COMPENSATION FINANCIAL APPENDIX LETTER COMMENTARY REPORT GOVERNANCE REPORT REPORT 2 CONTENTS #TogetherStrong Highlights 3 #TogetherStrong is a tag-name that covers #TogetherStrong aptly describes how we countless initiatives we took to address progressed through and emerged from this Letter to shareholders 7 pressing needs in the dental community extraordinary year. Management commentary 11 in 2020. Straumann Group in brief 12 Strategy in action 17 #TogetherStrong is forward-looking; it Products, solutions and services 21 It started with a website offering scientific expresses purpose, teamwork, courage, Innovation 26 and practical information to help Markets 29 determination, perseverance, moving Business performance (Group) 35 customers and staff through the corona forward and succeeding in turbulent Business performance (Regions) 38 virus crisis. Soon it became a holistic, Business performance (Financials) 44 surroundings – themes that are captured Share performance 46 omni-channel response including a in the pictures and contents of this report. Risk management 49 massive education platform. Sustainability report 57 The #TogetherStrong concept has Corporate governance 80 extended to thousands of activities Compensation report 107 and millions of communications. It demonstrates how the events of 2020 Financial report 123 fuelled our resourcefulness, innovation Appendix 184 and passion for creating opportunities. Global Reporting Initiative (GRI) 185 GRI content
    [Show full text]
  • Longer Term Investments Medical Devices
    Longer Term Investments Medical devices Chief Investment Office GWM | 11 April 2019 6:53 pm BST Lachlan Towart, Analyst; Stefan R Meyer, Analyst • The aging population and growth of the over-65 age group will create more opportunities for companies selling medical products and devices. • Other drivers of this industry include better penetration in emerging markets due to improved infrastructure, innovative new treatments, increased affordability due to rising per-capita GDP and a growing prevalence of "lifestyle diseases" such as obesity due to urbanization. • We identified five key markets for implantable or wearable devices, including consumer products such as hearing aids, dental implants and corrective lenses. We estimate their total market size at USD 114.8bn with a rate of potential growth in the mid-single digits. • The theme is relatively defensive and should appeal to quality- focused investors. We recommend exposure to it via a diversified portfolio of stocks across our preferred markets and segments. Medical devices can assist in the treatment of many conditions. Some reduce the risk of a treated condition worsening, perhaps as an alternative to drug therapy; others improve users' quality of life or functionality; and still others can solve problems untreatable with drugs. Devices like joint replacements effectively offer permanent long-term solutions (i.e. a cure). Medical devices are primarily used by the over-65 age group, whose growth will outpace the broader population's over the coming decades. Demand is also supported by the rise of "lifestyle diseases" like obesity, itself related to urbanization. The medical device industry has matured, but still represents a substantial opportunity, in our view.
    [Show full text]
  • Julius Baer Multicooperation Annual Report 2005 As at June 30, 2005 (Audited)
    Julius Baer Multicooperation Annual Report 2005 as at June 30, 2005 (audited) Subscriptions are only valid if made on the basis of the current Prospectus, the latest Annual Report and the latest Semi-Annual Report if published thereafter. The Articles of Association, the valid Prospectus and the Annual and Semi-Annual Reports may be obtained free of charge at the representative in Switzerland and the respective paying agent. Only the German version of the present Annual Report has been reviewed by the independent auditor. Consequently, the independent auditor's report only refers to the German version of the Report; other versions result from a conscientious translation made under the responsibility of the Board. In case of differences between the German version and the translation, the German version shall be the authentic text. AN INVESTMENT FUND DOMICILED IN LUXEMBOURG Representative in Switzerland: Julius Baer Investment Funds Services Ltd., Zurich Paying agent in Switzerland: Bank Julius Bär & Co. AG, Bahnhofstrasse 36, Postfach, CH - 8010 Zurich Paying agent in Germany: Bank Julius Bär (Deutschland) AG, Messe Turm, Friedrich-Ebert-Anlage 49, Postfach 15 01 52, D - 60061 Frankfurt on the Main Paying agent in Austria: Erste Bank der oesterreichischen Sparkassen AG, Graben 21, A - 1010 Vienna Contents Page Organisation and Management 4 Independent Auditor's Report 5 Notes to the Financial Statements 6 Julius Baer Multicooperation (Umbrella Fund) MCOO Julius Baer Multicooperation - Emerging Markets Value Stock Fund HESF Julius Baer Multicooperation
    [Show full text]
  • Retirement Strategy Fund 2060 Description Plan 3S DCP & JRA
    Retirement Strategy Fund 2060 June 30, 2020 Note: Numbers may not always add up due to rounding. % Invested For Each Plan Description Plan 3s DCP & JRA ACTIVIA PROPERTIES INC REIT 0.0137% 0.0137% AEON REIT INVESTMENT CORP REIT 0.0195% 0.0195% ALEXANDER + BALDWIN INC REIT 0.0118% 0.0118% ALEXANDRIA REAL ESTATE EQUIT REIT USD.01 0.0585% 0.0585% ALLIANCEBERNSTEIN GOVT STIF SSC FUND 64BA AGIS 587 0.0329% 0.0329% ALLIED PROPERTIES REAL ESTAT REIT 0.0219% 0.0219% AMERICAN CAMPUS COMMUNITIES REIT USD.01 0.0277% 0.0277% AMERICAN HOMES 4 RENT A REIT USD.01 0.0396% 0.0396% AMERICOLD REALTY TRUST REIT USD.01 0.0427% 0.0427% ARMADA HOFFLER PROPERTIES IN REIT USD.01 0.0124% 0.0124% AROUNDTOWN SA COMMON STOCK EUR.01 0.0248% 0.0248% ASSURA PLC REIT GBP.1 0.0319% 0.0319% AUSTRALIAN DOLLAR 0.0061% 0.0061% AZRIELI GROUP LTD COMMON STOCK ILS.1 0.0101% 0.0101% BLUEROCK RESIDENTIAL GROWTH REIT USD.01 0.0102% 0.0102% BOSTON PROPERTIES INC REIT USD.01 0.0580% 0.0580% BRAZILIAN REAL 0.0000% 0.0000% BRIXMOR PROPERTY GROUP INC REIT USD.01 0.0418% 0.0418% CA IMMOBILIEN ANLAGEN AG COMMON STOCK 0.0191% 0.0191% CAMDEN PROPERTY TRUST REIT USD.01 0.0394% 0.0394% CANADIAN DOLLAR 0.0005% 0.0005% CAPITALAND COMMERCIAL TRUST REIT 0.0228% 0.0228% CIFI HOLDINGS GROUP CO LTD COMMON STOCK HKD.1 0.0105% 0.0105% CITY DEVELOPMENTS LTD COMMON STOCK 0.0129% 0.0129% CK ASSET HOLDINGS LTD COMMON STOCK HKD1.0 0.0378% 0.0378% COMFORIA RESIDENTIAL REIT IN REIT 0.0328% 0.0328% COUSINS PROPERTIES INC REIT USD1.0 0.0403% 0.0403% CUBESMART REIT USD.01 0.0359% 0.0359% DAIWA OFFICE INVESTMENT
    [Show full text]
  • First-Quarter 2021 Report – Media Release
    First-quarter 2021 report – Media Release Straumann Group reports very strong first-quarter sales results accelerated by product launches and consumer focus on oral health . Record quarterly revenue of CHF 470 million, 34% organic growth compared to previous year which was already impacted by the pandemic . Acquisition effect of 2% due to DrSmile . Recent investments and product launches driving growth, performance lifted by strong consumer focus on oral health . Strong organic double-digit growth in all regions; contributions led by the largest regions EMEA and North America . Investment of CHF 170 million by 2029 in China Campus to support future growth . Full-year 2021 outlook raised to organic revenue growth in the mid-to-high twenties percentage range expecting an improvement in profitability (core EBIT margin) compared to 2020 REVENUE BY REGION Q1 2021 Q1 2020 (in CHF million) Europe, Middle East & Africa (EMEA) 214.3 162.2 Change in CHF in % +32.1 0.9 Change in local currencies in % +33.1 7.5 Change organic1 in % +27.0 0.1 % of Group total 45.6 45.4 North America (NAM) 138.0 115.7 Change in CHF in % +19.4 4.9 Change in local currencies in % +27.0 7.9 Change organic1 in % +27.0 7.7 % of Group total 29.4 32.4 Asia Pacific 92.3 53.5 Change in CHF in % +72.4 -25.5 Change in local currencies in % +74.4 -21.7 Change organic1 in % +74.4 -22.1 % of Group total 19.6 15.0 Latin America 25.2 26.0 Change in CHF in % -3.1 -12.0 Change in local currencies in % +23.8 7.3 Change organic1 in % +23.8 7.2 % of Group total 5.4 7.3 GROUP 469.8 357.3 Change in CHF in % +31.5 -4.0 Change in local currencies in % +37.0 1.9 Change organic1 in % +34.0 -1.4 1 Excluding the effects of currencies and acquisitions Page 1/6 Basel, April 29, 2021: The Straumann Group made an exceptional start to 2021 and the solid growth trend experienced in the second half of 2020 accelerated.
    [Show full text]
  • Straumann Group 2020 Full-Year Results
    #TogetherStrong Virtual2020 full-year townhall results meeting conference Basel, 16 February 2021 1 Disclaimer This presentation contains certain forward-looking statements that reflect the current views of management. Such statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Straumann Group to differ materially from those expressed or implied in this presentation. The Group is providing the information in this presentation as of this date and does not undertake any obligation to update any statements contained in it as a result of new information, future events or otherwise. The availability and indications/claims of the products illustrated and mentioned in this presentation may vary according to country. 2 2 FY 2020, Straumann Group 1 2/15/2021 9:46 PM Agenda Full-year highlights Guillaume Daniellot Business & regional review Peter Hackel Recent achievements & strategy in action Guillaume Daniellot Outlook 2021 Guillaume Daniellot Guillaume Daniellot Q&A and upcoming events Peter Hackel 3 Full-year highlights Guillaume Daniellot, CEO 4 FY 2020, Straumann Group 2 A challenging year with solid results returning to organic growth in the second half of 2020 REVENUE ORGANIC GROWTH1 CORE EBIT MARGIN2 CHF 1.4bn -6% 23.4% -11% vs 2019 +8% organic growth1 in Q4 IFRS EBIT margin: 11% CUSTOMER FOCUS EXPANSION OUTLOOK3 Immediacy DrSmile Further share gains Straumann BLX, Zygoma, TLX Entering into Direct-to-Consumer 2021: high-single-digit percentage marketing with doctor-led treatment organic revenue growth, core EBIT expected to improve vs 2020 1 Organic growth = excluding effects of currencies and business combinations 2 Core figures exclude one-time M&A effects, exceptional 5 pension-plan items, restructuring and non-recurring litigation expenses, amortization and impairment of goodwill and acquisition related intangible assets.
    [Show full text]
  • Portfolio of Investments
    PORTFOLIO OF INVESTMENTS Variable Portfolio – Partners International Growth Fund, September 30, 2020 (Unaudited) (Percentages represent value of investments compared to net assets) Investments in securities Common Stocks 99.4% Common Stocks (continued) Issuer Shares Value ($) Issuer Shares Value ($) Argentina 1.1% France 9.9% (a) MercadoLibre, Inc. 11,044 11,954,909 Air Liquide SA 33,000 5,230,820 Australia 3.3% Airbus Group SE(a) 115,226 8,356,836 Aristocrat Leisure Ltd. 382,096 8,332,956 Capgemini SE 100,870 12,941,155 Atlassian Corp. PLC, Class A(a) 34,922 6,348,471 Dassault Systemes 30,100 5,616,121 Cochlear Ltd. 21,100 3,014,527 L’Oreal SA 53,085 17,275,402 CSL Ltd. 90,068 18,605,054 LVMH Moet Hennessy Louis Vuitton SE 60,510 28,312,668 Total 36,301,008 Safran SA(a) 109,109 10,734,920 Canada 3.6% Sartorius Stedim Biotech 23,028 7,948,411 Alimentation Couche-Tard, Inc., Class B 179,500 6,250,922 Teleperformance SA 26,943 8,306,583 Brookfield Asset Management, Inc., Class A 129,004 4,264,872 Total SE 113,620 3,902,001 Canadian National Railway Co. 187,926 20,014,109 Total 108,624,917 Dollarama, Inc. 223,415 8,563,780 Germany 5.5% Total 39,093,683 Adidas AG(a) 18,700 6,039,018 China 9.0% Infineon Technologies AG 652,214 18,383,168 Alibaba Group Holding Ltd.(a) 950,520 34,894,654 Rational AG 13,768 10,799,191 CNOOC Ltd.
    [Show full text]
  • Jahresbericht 2013
    JAHRESBERICHT 2013 JAHRESBERICHT 2013 Die Agenda Chemie Pharma Biotech JAHRESBERICHT 2013 Die Agenda Chemie Pharma Biotech scienceindustries Vorteile der Mitgliedschaft bei Kontakt: Wirtschaftsverband Chemie Pharma Biotech scienceindustries scienceindustries setzt sich nachhaltig für Mitglieder können über scienceindustries scienceindustries ein innovationsfreundliches Umfeld für die auf die geplanten staatlichen Regelungen Nordstrasse 15, Postfach Mitgliedunternehmen ein. 1882 gegründet, in den Bereichen Wirtschaftspolitik, CH-8021 Zürich gehören ihr heute rund 250 Unternehmen Chemie, Pharma, Biotechnologie, Umwelt- T +41 44 368 17 11 an. Die grösste Schweizer Exportindustrie schutz, Sicherheit und Technologie sowie F +41 44 368 17 70 beschäftigt in der Schweiz rund 70 000 Per- in Fragen des wissenschaftlich-technischen [email protected] sonen, weltweit über 338 000 Personen. Nachwuchses Einfluss nehmen. www.scienceindustries.ch In der Schweiz sind über 11 600 hochquali- Zudem erhalten Mitglieder von science- fizierte Mitarbeiter in der Forschung tätig. industries exklusiven Zugang zum Weitere 130 000 Arbeitskräfte in anderen Membernet, einer webbasierten Wissens- Branchen hängen von der Industrie Chemie plattform, die täglich mit E-Mail über alle Pharma Biotech ab. neueren politischen Geschäfte informiert, welche die Unternehmen in den science- Die Website www.scienceindustries.ch industries betreffen. informiert ausführlich über Ziele, Arbeits- weise, aktuelle Tätigkeiten und wichtige Weiter können Mitglieder Einsitz in Positionsbezüge
    [Show full text]
  • We Love What We Do 2014 Annual Report 2014 Annual Report Annual 2014
    We love what we do 2014 Annual Report 2014 Annual Report Annual 2014 Straumann Holding AG Peter Merian-Weg 12 4002 Basel Switzerland www.straumann.com 00_00_STR_GB2014_GB_Umschlag_en.indd 1 09.03.2015 16:44:50 About Straumann Straumann is a global leader in tooth replacement solu- tions including dental implants, prosthetics and regener- ative products. Headquartered in Basel, Switzerland, the Group is present in more than 70 countries through its broad network of distribution subsidiaries and partners. 1 Rebecca Hesse SAP Coordinator 2 Susan-Ann Welzbacher Corporate Safety Officer 3 Julia Hirtle Spend Coordinator 4 Roland Scacchi Administrator 5 Alessandro Annicchiarico IT Support 4 7 1 2 3 5 6 8 9 6 Heather Stanton Web Editor IMPRINT Published by: Institut Straumann AG, Basel 7 Dave Koster Lab Business Development Concept and realization: PETRANIX Corporate and Financial Communications AG, Adliswil/Zurich 8 Raul Perez Talent Management Photography: AMX Studio, Alex Stiebritz, Karlsruhe Consultant on sustainability: sustainserv, Zurich and Boston 9 Sandra Schürmann Events Coordinator Certain design elements by Eclat, Erlenbach/Zurich Print: Neidhart + Schön AG, Zurich Basel, 26 February 2015 We have a global culture with more than 28 nationalities represented at our headquarters alone. The front cover shows a few examples. ©2015, Straumann Holding AG 00_00_STR_GB2014_GB_Umschlag_en.indd 2 09.03.2015 16:45:02 We love what we do 2014 Annual Report Highly motivated, creative employees, together with innovative products, solutions and commercial ap- proach es are the keys to Straumann’s ambition of being the provider of choice in tooth replacement. The theme photographs in this report all feature products that we introduced or rolled out in 2014 alongside some of the talented people who have been involved in bringing them to customers and patients.
    [Show full text]
  • Switzerland Board Index Spencer Stuart in Switzerland
    2016 Switzerland Board Index spenCer stuart in sWitzerland aBout spencer stuart Spencer Stuart has had an uninterrupted presence in Switzerland since 1959, when it opened its Zurich office. At Spencer Stuart, we know how much leadership matters. We are trusted by organizations around the world to help them make the senior- level leadership decisions that have a lasting impact on their enterprises. Through our exec- utive search, board and leadership advisory services, we help build and enhance high- performing teams for select clients ranging from major multinationals to emerging companies to nonprofit institutions. Privately held since 1956, we focus on delivering knowl- edge, insight and results through the collaborative efforts of a team of experts — now spanning 56 offices, 30 coun- tries and more than 50 practice specialties. Boards and leaders consistently turn to Spencer Stuart to help address their evolving leadership needs in areas such as senior- level executive search, board recruitment, board effective- ness, succession planning, in- depth senior management assessment and many other facets of organizational effec- tiveness. For more information on Spencer Stuart, please visit www.spencerstuart.com. Social Media @ Spencer Stuart Stay up to date on the trends and topics that are relevant to your business and career. @Spencer Stuart © 2016 Spencer Stuart. All rights reserved. For information about copying, distributing and displaying this work, contact: [email protected]. 35 spencer stuart Contents 2 Foreword 3 HigHligHts 14 Our survey approacH 15 Board size and composition 21 Board governance 24 remuneration 26 International comparison 32 smi company Board data 34 Spencer stuart in switzerland 36 Board governance trends: A gloBal view switzerland board index 2016 1 Foreword The Spencer Stuart Board Index is an annual study that analyses aspects of board governance among major listed companies, including composition, committees and remuneration.
    [Show full text]
  • Voting Report 2020
    Exercising of Shareholder Rights – Information December 2020 As a result of the adoption of the “Popular Initiative against Fat-Cat Salaries” in 2014, pension funds have an obligation to exercise shareholder rights in the interests of the insured persons and to disclose how the pension funds voted. This regulation applies for public limited companies with registered office in Switzerland and whose shares are listed on a domestic or foreign stock exchange. The Foundation Board of the PensFlex Collective Foundation has incorporated the corresponding regulations into the Art. 3.5 of the Organisational Rules or Art. 4 of the Rules on Investment. A list of the voting record of the PensFlex Collective Foundation in the year 2020 is shown below. Voting Report for PensFlex Sammelstiftung Kauffmannweg 16 6003 Luzern This report summarizes voting behaviour according to the following specifications: Time period: 01.01.2020 - 31.12.2020 Agenda items: Summary of all items on the agenda, i.e. not only the items requiring a vote according to Art. 22 para. 1 ORAb. The voting rights were exercised for the following companies: Perrot Duval 06.02.2020 Kardex 14.04.2020 Novartis 28.02.2020 Tornos 15.04.2020 Dätwyler 11.03.2020 Georg Fischer 15.04.2020 Roche 17.03.2020 Sulzer 15.04.2020 BB Biotech 19.03.2020 Evolva 15.04.2020 Schindler 19.03.2020 Mikron 15.04.2020 Swiss Prime Site 24.03.2020 Ascom 15.04.2020 Implenia 24.03.2020 Kudelski 15.04.2020 Bellevue 24.03.2020 Adecco 16.04.2020 SGS 24.03.2020 Rieter 16.04.2020 ALSO 24.03.2020 Cembra Money Bank 16.04.2020
    [Show full text]
  • Portfolio of Investments
    PORTFOLIO OF INVESTMENTS Variable Portfolio – Partners International Growth Fund, March 31, 2021 (Unaudited) (Percentages represent value of investments compared to net assets) Investments in securities Common Stocks 98.4% Common Stocks (continued) Issuer Shares Value ($) Issuer Shares Value ($) Argentina 0.9% Sartorius Stedim Biotech 30,884 12,710,261 MercadoLibre, Inc.(a) 8,451 12,441,055 Teleperformance SA 30,119 10,981,253 Australia 3.0% Total SE 137,200 6,396,233 Aristocrat Leisure Ltd. 664,347 17,429,567 Total 165,752,414 Cochlear Ltd. 25,500 4,101,802 Germany 4.0% CSL Ltd. 103,017 20,820,136 Adidas AG(a) 20,400 6,372,775 Total 42,351,505 Infineon Technologies AG 592,181 25,195,879 Canada 2.8% Rational AG 15,392 11,956,544 Alimentation Couche-Tard, Inc., Class B 216,700 6,987,096 SAP SE 53,900 6,611,196 (a) Canadian National Railway Co. 275,350 31,954,360 TeamViewer AG 143,772 6,148,594 Total 38,941,456 Total 56,284,988 China 6.2% Hong Kong 4.1% Alibaba Group Holding Ltd.(a) 901,220 25,606,027 AIA Group Ltd. 2,518,000 30,812,188 NetEase, Inc. 909,175 18,695,307 CLP Holdings Ltd. 603,000 5,871,227 TAL Education Group, ADR(a) 267,889 14,425,823 Hang Lung Properties Ltd. 2,855,000 7,452,245 Tencent Holdings Ltd. 349,100 27,860,817 Hong Kong & China Gas Co., Ltd. 2,771,500 4,394,460 Total 86,587,974 Jardine Matheson Holdings Ltd.
    [Show full text]