Large Corporates & Institutions Surveys 2014 Denmark Large Corporates & Institutions Surveys 2014 Denmark ©TNS Sifo 2015 1 Survey Design Prospera Top Lists 2014 Denmark Benchmark Number of Surveys 22 # Interviewed All 916 Tier 1 285 Top List Points For each survey, TNS Sifo Prospera has allotted the top ranked supplier/suppliers 55 points, the second ranked 44 points, the third 33 points, the forth 22 points and the fifth 11 points. Each supplier’s points are summed. In case the rank is tied, suppliers are placed in alphabetical order Interviewees CFO, CEO, CIO, Group Treasurer, Assistant Treasurer, Finance Director, Head of Bank Relations, Cash Manager, Head of Trade Finance, Partners, Head of Back Office, Traders, Dealers, Portfolio Managers & Buy-Side Analysts Method Telephone interviews by TNS Sifo Prospera’s interviewers Large Corporates & Institutions Surveys 2014 Denmark ©TNS Sifo 2015 2 Survey Design Prospera Top Lists 2014 Survey All # Tier 1 # Time period Back Office Equity Denmark 20 - August 19th - September 19th, 2014 Back Office FI, FX & Derivatives Denmark 32 - June 10th - July 8th, 2014 Cash Management Denmark 49 27 January 7th - February 20th, 2014 Corporate Banking Denmark 49 28 October 15th - December 15th, 2014 Credit Product Investors Denmark 22 14 April 11th - May 12th, 2014 DCM Issuers IG Denmark 19 - May 15th – June 13th, 2014 DKK Government Securities Denmark 31 - February 27th – March 12th, 2014 DKK Mortgage Bonds Denmark 51 17 February 27th – March 12th, 2014 Domestic Equity Research & Advisory Denmark 63 24 October 6th – November 3rd, 2014 Domestic Equity Execution Denmark 63 24 October 6th – November 3rd, 2014 Domestic Equity Corporate Access Denmark 63 24 October 6th – November 3rd, 2014 ECM Advisors Denmark 14 - May 27th – October 2nd, 2014 Emerging Markets Foreign Exchange Denmark 43 - February 27th – March 25th, 2014 EUR Fixed Income Denmark 19 - February 27th – March 12th, 2014 External Asset Mgmt Denmark Nordic Suppliers 72 - April 22nd – June 18th, 2014 Foreign Exchange Denmark 93 31 February 27th – March 25th, 2014 Institutional Banking Denmark 43 25 October 13th - December 2nd, 2014 Interest Rate Swaps Denmark 28 16 February 24th - March 17th, 2014 Loan Agency/Loan Operations Denmark 17 - October 6th - December 17th, 2014 M&A Advisors Denmark 39 - May 27th – October 2nd, 2014 Multi-Bank Lending Facilities/Syndicated Loans Denmark 15 10 October 6th - December 17th, 2014 Trade Finance Denmark 71 45 January 17th – February 17th, 2014 Large Corporates & Institutions Surveys 2014 Denmark ©TNS Sifo 2015 3 Summary Prospera Top Lists 2014 All Rank Points #1 #2 #3 #4 #5 14 13 14 1 1 979 Danske Bank 13 5 1 0 1 2 2 902 Nordea 7 8 5 0 0 3 3 550 SEB 1 2 9 3 4 4 4 231 Nykredit 0 2 2 3 1 5 *5 198 Jyske Bank 2 0 0 3 2 6 *5 165 Carnegie 1 0 2 2 0 7 7 99 Barclays 0 1 1 1 0 8 *11 77 Deutsche Bank 0 0 0 3 1 9 18 66 ABGSC 0 0 1 1 1 10 *13 55 J.P. Morgan 1 0 0 0 0 Tier 1 Rank Points #1 #2 #3 #4 #5 14 13 14 1 1 572 Danske Bank 8 3 0 0 0 2 2 539 Nordea 4 6 1 1 0 3 3 308 SEB 0 1 6 2 2 4 7 88 Carnegie 0 0 2 1 0 5 *9 77 Barclays 0 1 1 0 0 6 4 66 Nykredit 0 0 1 1 1 *7 - 55 BNP 0 0 1 1 0 *7 8 55 J.P. Morgan 1 0 0 0 0 *7 5 55 Jyske Bank 0 0 0 1 3 *10 13 33 ABGSC 0 0 0 1 1 *10 6 33 Deutsche Bank 0 0 0 1 1 Large Corporates & Institutions Surveys 2014 Denmark ©TNS Sifo 2015 4 Summary Prospera Top Lists 2014 Back Office Back Office All Equity FI, FX & Derivatives Cash Management Corporate Banking 1 Jyske Bank Jyske Bank Danske Bank Danske Bank, SEB 2 SEB Danske Bank Nordea - 3 ABGSC Nordea SEB Nordea 4 Carnegie, Credit Suisse Nykredit - BNP, Deutsche Bank 5 - SEB - - Tier 1 1 - - Danske Bank Nordea 2 - - Nordea Danske Bank 3 - - SEB SEB 4 - - - BNP Paribas 5 - - - Handelsbanken Large Corporates & Institutions Surveys 2014 Denmark ©TNS Sifo 2015 5 Summary Prospera Top Lists 2014 Credit Products DKK Government All Investors DCM Issuers IG Securities DKK Mortgage Bonds 1 J.P. Morgan Danske Bank Danske Bank Nordea 2 Barclays Nordea Nordea Nykredit Bank 3 Nordea SEB Nykredit Bank Danske Bank 4 Deutsche Bank - SEB Jyske Bank 5 BNP - Sydbank SEB Tier 1 1 J.P. Morgan - - Danske Bank 2 Barclays - - Nordea 3 BNP - - Nykredit Bank 4 Nordea - - SEB 5 Deutsche Bank - - Jyske Bank Large Corporates & Institutions Surveys 2014 Denmark ©TNS Sifo 2015 6 Summary Prospera Top Lists 2014 Domestic Equity Domestic Equity Domestic Equity All Research & Advisory Execution Corporate Access ECM Advisors 1 Danske Bank Danske Bank, Nordea Danske Bank Nordea 2 Nordea - Nordea Danske Bank 3 Carnegie Carnegie SEB - 4 ABGSC SEB Carnegie - 5 SEB Jyske Bank ABGSC - Tier 1 1 Danske Bank Danske Bank, Nordea Danske Bank - 2 Nordea - Nordea - 3 Carnegie Carnegie SEB - 4 ABGSC SEB Carnegie - 5 SEB Jyske Bank ABGSC - Large Corporates & Institutions Surveys 2014 Denmark ©TNS Sifo 2015 7 Summary Prospera Top Lists 2014 Emerging Markets External Asset Mgmt All Foreign Exchange EUR Fixed Income Nordic Suppliers Foreign Exchange 1 Nordea Danske Bank Nordea Danske Bank, Nordea 2 Danske Bank Nykredit Bank Danske Capital - 3 SEB Nordea Nykredit SEB 4 Jyske Bank, Nykredit Barclays SEB Jyske Bank 5 - Deutsche Bank Sparinvest Nykredit Tier 1 1 - - - Nordea 2 - - - Danske Bank 3 - - - SEB 4 - - - Jyske Bank 5 - - - Nykredit Large Corporates & Institutions Surveys 2014 Denmark ©TNS Sifo 2015 8 Summary Prospera Top Lists 2014 Loan Agency/ All Institutional Banking Interest Rate Swaps Loan Operations M&A Advisors 1 Danske Bank Danske Bank Danske Bank Carnegie 2 SEB Nordea Nordea FIH Partners 3 Nordea Barclays SEB SEB 4 Nykredit Deutsche Bank - Handelsbanken 5 Jyske Bank SEB - Danske Bank Tier 1 1 Danske Bank Danske Bank - - 2 SEB Nordea - - 3 Nordea Barclays - - 4 Nykredit Deutsche Bank - - 5 Jyske Bank SEB - - Large Corporates & Institutions Surveys 2014 Denmark ©TNS Sifo 2015 9 Summary Prospera Top Lists 2014 Multi-Bank Lending All Facilities/Syndicated Loans Trade Finance 1 Nordea Danske Bank 2 Danske Bank Nordea 3 SEB SEB 4 - - 5 - - Tier 1 1 Nordea Danske Bank 2 Danske Bank Nordea 3 SEB SEB 4 - - 5 - - Large Corporates & Institutions Surveys 2014 Denmark ©TNS Sifo 2015 10.