mise en page 1 - exanein autonomy and exposure to the world’s financial markets. probably more...

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C A S H E Q U I T I E S p E Q U I T Y D E R I V A T I V E S p A S S E T M A N A G E M E N T

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H ISTORY

1990Arrival of two teams (cash equities and equity derivatives)at Finacor Bourse.Creation of Finacor Actions et Dérivés (FAD).

1992Creation of Exane (ex-FAD) then of Verner Investissements,a partnership unit ing Exane’s principal managers andexperts, which takes 34% of Exane’s capital.

1996Creation of Exane Inc. in New York.Verner Investissements controls 50.1% of Exane SA.

1999Exane issues its first equity derivative products.

2000Exane voted number one on French equities.Verner Investissements controls 80% of Exane SA.

2001Creation of Exane Asset Management.

2002/2003Consolidation of competit ive posit ions in a toughmarket environment.

2004Partnership agreement with BNP Paribas.

2005/2007Strong growth in all businesses.

2008/2009A robust model has allowed Exane to adjust its strategicobjectives to ever-changing market condit ions whilemaintaining its momentum.

2010Opening of new offices in Europe.

2011/2012Strengthening of the partnership with BNP Paribas:enhanced strategic integration with BNP Paribas,whilst maintaining Exane’s managerial independence.


Keyfigures

In joining Exane, you will become part of a team of more than 800people driven by a strong commitment to shared values.

If you see yourself in Exane’s way of thinking, come and join us!

Choose Exane

03 CHOOSE EXANE

E ntrepreneurial spir i tL ike the found ing d i rec to rs , who head the Group today, you wi l l have the

oppor tun i ty to put your ent repreneur ia l sk i l l s in to act ion. As par t o f a fast-

moving team working hand in hand with decision makers, you wil l quickly gain

in autonomy and exposure to the world’s financial markets. Probably more than

anywhere else, your personal investment wil l be valued and rewarded.

A mbit ionIf you are determined to succeed, you will fit in perfectly at Exane, with our clear

and ambitious strategy. Whether in Paris or one of our off ices around

the world, you wil l become part of the Exane success story.

E xcel lenceWorking alongside our experienced analysts, sales people and traders wi l l

challenge you to achieve excellence in all domains. You will be giving your

career a head start in a demanding environment at the heart of the financial markets.

€394.8mnet banking income

€57.9mnet profit

855employees

9 officeson 3 continents


04 BNP PAR IBAS PARTNERSH IP

Shareholding Structure

* Exane Group’s key managers and experts

Exane Partners* BNP Paribas

50%

ofthe

capital 50 %of the capital

60%

ofth

e votin

g rights 40 %of the voting

rights

Verner Investissements100 %

Exane


An innovative and effectivepartnership with BNP Paribas

• An operational partnership in European cash equi t ies

where BNP Par ibas confer red exclus iv i ty to Exane under the

Exane BNP Par ibas brand.

• A balance sheet partnership, which is particularly well suited

to our Equity Derivatives business, providing financing and support

for our rat ing.

• A capital partnership un i t ing the st rength of BNP Par ibas

wi th the independence of Exane.

The 2004 agreement between Exane and BNP Paribas that has beennoticeably reinforced in 2010 and 2011 revolves around three core elements:


06 OUR SP IR I T


...a strong culture

Exane’s growth has always been grounded on 3 fundamentals:

• the Equities universe,

• Investment expertise (trading and asset management),

• and top-class Research in equities and derivatives.

These three pillars of our business model are underpinned by 3 core valuesthat have shaped the Group’s culture since its creation:

• Excellence,

• Independence,

• Commitment.

Three business lines …

Specialising in European equities, Exane is active in 3 businesses:

• Cash EquitiesWith a strong franchise in Europe under the Exane BNP Paribas brand name, Exane’s

Cash Equity business offers a full range of services including research, sales and execution

on European equities.

• Equity DerivativesA benchmark player in the derivatives market, Exane Derivatives specialises in structured

products and listed derivatives (options and convertible bonds).

• Asset ManagementExane Asset Management is one of the leading long/short equity funds managers

in France. Today, the company is recognised as a major presence in European direct

long/short equity fund management.


Cash Equities

Under the Exane BNP Paribasbrand, created in 2004 as part ofthe partnership agreement withBNP Paribas, the Exane Group offersinstitutional investors a comprehensiverange of research, sales andexecution services onEuropean equities.

Exane BNP Paribas is a top-ten brokerfor European equities, bolstered bythe expansion of a strong platformin London and its partnership withBNP Paribas.

08 OUR BUS INESS

324people

610stocks covered

75%non-French stocks


u Equity SalesSpecialised by geographic zone, equity sales people

offer investment advice and expertise on European

equities to clients in financial institutions, including fund

managers of insurance companies, banks and hedge funds.

Sales people can be likened to orchestra conductors,

spotlighting the investment ideas of our research department and

bringing essential news to clients in keeping with their own investment

profi les and criteria. This requires a sound macro-economic

understanding and a keen ability to communicate effectively

to win the much sought after confidence of clients.

u Equity Sales TraderSales traders provide the hub between

the sales desk, the client and the

market. They efficiently track client’s

interests, and keep them up to date on information

that may have an impact on the evolution of the

short-term market. They supervise flows and the

liquidity of the market and ensure that deals are

correctly executed. Our sales trading desks specialise

by product and by region.

u AnalystAnalysts engage in rigorous

investigation and research to

develop investment ideas

on listed companies within a specific sector

(Automotive, Luxury Goods, Oil, etc.). They “sell” their

recommendations through published research notes

and regular personal contact with investors.

They thoroughly analyse the financials, strategies

and stock market records of the companies they

cover, in order to build financial models and valuations.

To succeed, an analyst must develop a skil ls

base encompassing sector expertise that sets

his work apart, sound commercial sense and

a good investment culture.


1 0 OUR BUS INESS

Exane Derivatives has built a robustfranchise in the creation ofmulti-asset investments andbrokerage of convertible bondsand options.

Exane Derivatives designs investmentsolutions offering optimal risk/returnprofiles for all types of investors:mutual funds, private banking,institutionals and retail networks.

Equity Derivatives

200people

800issues a year


u Derivatives AnalystDerivatives analysts issue

recommendations on listed

and structured products. They

unite their convictions on the underlying assets

and asset classes (stocks, funds, emerging

markets, commodities, etc.) with their analysis

of the derivatives market (volati l ity, interest

rates, etc.) to define investment strategies.

This synthesis of multiple skil ls – the “mix” – is

a specific characteristic, and a major strength

of Exane.

Derivatives analysts also play an important

commercial role, presenting and marketing their

recommendations to clients and to the sales

teams.

u Derivatives SalesDerivatives sales people build up long-term

commercial relationships with clients (banks,

insurance companies, asset managers, retirement funds,

pension funds, private asset managers) by providing investment

advice tailored to their specific investment objectives

and constraints. Their recommendations are based on

research (equities, funds, commodities, technical features of

derivatives), engineering (legal, fiscal, regulatory) and structuring

(suitably adapted product profiles). This means always being up

to date on market and product movements and trends (morning

meetings, general news, derivatives research). Sales people play

a key role in winning and retaining clients in France and abroad,

and must possess the communication skills necessary to nurture

long-term commercial relationships with them.

u StructurerStructurers use their technical skills and

ability to innovate and develop new structured

products. Building on investment themes identified

by the derivatives research team or in response to a specific

client demand, structurers design and price tailored

products and, together with the traders, measure and evaluate

the associated risks.

Structurers play an important commercial role, promoting new

products to the sales team and providing technical support

in the team’s dealings with clients.

u StructuredProducts Trader

Operating on behalf of Exane, structured

products traders are responsible

for a portfolio, ensuring the pricing

of one or more products and managing the associated

risk and the positions taken. They work closely with

the various research departments, risk control and

the sales desks, monitor potential improvements

in the existing tools and contribute to the design

of valuation models.


Founded in 2001 and regulated bythe AMF, Exane Asset Managementincorporates the Group’s thirdparty fund management activity.The company has establishedits expert ise primari ly in directmanagement of long/shortequity funds with acomplementary range of 13 funds.

Our management team has arecognised expertise in the areaof European equities, through its16 highly experienced fundmanagers/analysts, each withcomplementary profiles and skil ls.

Asset Management

1 2 OUR BUS INESS

47people

€3.9bnunder management

13funds managed

asset management


u Account ManagerAccount managers oversee the overall

client relationship, from prospecting

potential clients to maintaining the loyalty

of existing clients. They provide the interface between

the clients (pension and retirement funds, private

banks, funds of funds, financial advisers, etc.)

and fund managers of Exane Asset Management.

In addition, they play an active role in developing

our product policy. All this requires an in-depth

understanding of the market and of management

strategies, as well as the abil ity to convince.

u Fund Manager,Long/Short EquityFunds

Fund managers aim to achieve a capital gain

over time – within strictly observed risk

limitations – on a portfolio of assets. Their

objective at Exane Asset Management is to deliver

a consistent absolute performance with a

long/short strategy. This involves buying listed

stocks (long) and taking sell positions on other

stocks (short). Investment decisions are based

on regular company visits and comprehensive

financial research.


The support teams are essentialto the growth of our activities,especially given the increasingcomplexity of the products traded.The individual support departmentsprovide a group-wide service:Middle/Back Office, IT, FinanceDepartment, Risk Control, HR,Marketing, etc.

Support Functions

1 4 OUR BUS INESS

286people


u Middle/Back OfficeQuality and a sense of service are crucial to the

Middle and Back Office functions, which ensure

that operations initiated by the Front Office

teams are administered and settled efficiently

and correctly.

The Middle and Back Office require people with good

technical and relational skills. Depending on the

department, the individual role may include calculating the

daily net result on a portfolio, monitoring operations and

positions taken, keeping clients informed of the progress

of operations, confirming transactions, etc.

u Control ServicesThe Control Services provide permanent oversight

and reviewing (Compliance, Risk Control) as well

as periodical checks (Internal audit).

Our teams bring an in-depth knowledge of the financial markets

to ensure that the risks taken by Exane in the course

of its activities are both measured and mastered.

The various Control Services ensure that our activities are carried

out in conformity with the regulations applicable

in each country, assess the market and counterparty risks, and that

Exane’s internal control systems and procedures are fit for purpose.

u ITOur IT Project Manager and IT Engineer

teams are responsible for the smooth

operation as well as the technical

and functional development of Exane’s IT

architecture.

This includes developing and maintaining proprietary

appl icat ions and supervising development projects

tailored to the needs of the Company’s various activities

(e.g., Front, Middle and Back Office).

The IT Department is also responsible for keeping

abreast of market and technical trends and changes

to ensure that our IT systems are able to keep pace

with, and anticipate the evolving demands of our

businesses.

u MarketingOur Marketing teams are located at the

heart of the trading floor where they are

close to our business and therefore able

to optimise the marketing of our activities

and products.

Working in close communication with the sales teams and

with journalists, our marketing teams are involved at several

levels including preparing marketing brochures, participating

in the launch of new products and funds, and managing

press relations.

They also initiate and organise a variety of events in and outside

France, including company roadshows and investor seminars

and trips, bringing together clients, analysts, sales people and

the senior management teams of the companies that we cover.


Our Awards

1 6 OUR AWARDS

Our teams’ expertise consistentlywins strong recognition amongclients, as demonstrated in keyinvestor surveys.


i No.3 for equity derivatives in Europe

i No.2 for convertibles sales in Europe

i No.2 for convertibles research in Europe

i No.4 convertibles trading/execution in Europe

2012 Thomson Reuters Extel Pan European Survey

[Votes from “Key Fund Managers”, commissions weighted]

• No.1 for derivatives and convertible bond research

in France

2012 AGEFI / Grands Prix de l’Analyse Financière

[Extel votes from French institutional investors only]

asset management

i Nominated for the “best investment

management company in 2011” category

2012 Eurohedge Awards.

• Nominated for the “best long/short equity

investment management team” and

the “best multi-hedge funds investment

management team”

2012 Financial News Awards for Excellence

i No.6 for equity sectors research in Europe

i 14 sectors in the Top 5 in Europe

i No.8 broker in Europe

i No.2 broker for European Small & Midcaps

i Leading brokerage firm in France

2012 Thomson Reuters Extel Pan European Survey

[Votes from “Key Fund Managers”, commissions weighted]

• Leading European brokerage firm according to French

institutional investors

• No.1 equity sales - French equities

• No.1 trading & execution on French equities

• No.1 corporate marketing according to French


• No.1 equity research on French Equities - Small & Midcaps

• 9 equity sectors awards out of 10 according to French


2012 AGEFI / Grands Prix de l’Analyse Financière

[Extel votes from French institutional investors only]

p No.10 for European equity research

p 8 sectors teams ranked

2012 Institutional Investor


I f you want to be autonomous,express your potential quicklyand gain recognit ion both withinthe Company but also from ourcustomers, then join us!

Exane wil l help you to developand accelerate your career.

Join us!

1 8 JO IN US !


u Our opportunities

Many opportunities for talented

young students and graduates are

available every year, in all sectors

of Exane’s activities.

i Activities

- Equities and Derivatives Research

- Equities and Derivatives Sales

- Trading

- Structuring

- Control

- Middle and Back Office

- Accountancy

- Marketing

- IT ...

i Locations

In any of our 9 offices,

depending on opportunities.

u Exane: inside stories

Adrien – HECMedia Sector Analyst

“After an internship in the

Group’s Equity Research

Department in London, I was

hired as an Equity Analyst on the Media

team. I got to know Exane through the

HEC career fair and a friend had highly

recommended the Company.

Since joining, I have been trusted with

a lot of responsibil ity and have learnt

the “ins and outs” of this profession as

I go along, mainly thanks to my proximity

to the Head of team. Being in regular

contact with High-level Directors in

other companies, I really appreciate

the value of working in a stimulating

structure which has diverse teams

and accessible management.”

Alejandro – ESCP EuropeDerivatives Sales

“I heard about Exane through

the ESCP Europe forum. I was

looking for an internship with

regular contact with clients and greater

independence; Exane was the perfect

organisation. From day one, I held real

responsibilities such as managing a small

portfolio of clients. After my internship,

Exane contacted me to join the Sales

team as a Salesperson in charge of

developing the Spanish/Portuguese

market. It’s a position that gives me

access to the tools I need to achieve

the goals set for me whilst being

surrounded by experienced people

who coach me on a daily basis.”

u Recruitmentprocess

From 2 to 4 interviews for

an internship, from 4 to 8

interviews for a permanent

position.

Please apply 2 to 3 months

before your preferred start

date on our website

www.exane.com/corporate/

careers.do

www.exane.com

u Profile sought

i Marked interest in the

financial markets

i Strong analytical and

interpersonal skil ls

i Ability to work under

pressure

i Willing to learn fast in a

demanding environment


EXANE SA16, Avenue Matignon75008 PARISTel.: + 33 (0)1 44 95 40 00Fax: + 33 (0)1 44 95 40 01

www.exane.com

Join us!

Con

ception,

crea

tion:

www.plane

tepu

blicite.fr.P

hotos:

F.Bigio,A

genc

eRap

ho:P

.Dolém

ieux

andG.L

eimdo

rfer,La

Com

pany:J

.E.P

asqu

ier.Dec

embe

r201

2.


mise en page 1 - exanein autonomy and exposure to the world’s financial markets. probably more...

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