Activity/organization/distribution structure

The private banking business of Crédit Mutuel Alliance Fédérale is focused on providing quality customer service, in accordance with the profession's best practices. It relies on several entities each with a unique positioning. In France, the activity is provided by CIC Private Banking and Banque Transatlantique. CIC Private Banking, a branch business line integrated into the CIC network, addresses first of all the needs of business owners. Banque Transatlantique offers custom private banking services and stock-options It also offers services dedicated to French customers living aboard. Internationally, the group has private banking entities - with Banque de Luxembourg and Banque CIC (Switzerland) - in zones presenting strong growth potential such as Luxembourg, Switzerland and Belgium.

These outlets offer, in France as well as abroad, a large range of services with high added value to nearly 184,000 customers. Depending on its market and its capabilities, each entity may intervene in other customer segments than just the private clientele. The private banking business(1) totaled €162 billion in assets under management and €25 billion in loans.

(1) Data on all private banking business (CIC Private Banking, Banque Transatlantique Group, Banque de Luxembourg and Banque CIC Switzerland).

Products/services proposed

Products and services proposed by CIC Private Banking:

With over 400 employees in more than 50 cities in France, CIC Private Banking has been working with wealthy estates households and business executives to develop their personal and professional wealth for more than 150 years.

CIC Private Banking offers high added value services in the financial engineering and wealth, asset allocation and financial management fields. Alongside the wealth management engineers, the private bankers meet with business owners to identify their needs. They also help them to define their entrepreneurial and asset strategy and offer them tailored solutions in synergy with the network's expert business support. CIC Private Banking benefits from the national presence of the CIC network and its representation offices worldwide.

In 2020, a new reporting tool was deployed allowing customers to have a real-time overview of their assets and their evolution. Always concerned with listening to its customers, a perception survey was conducted among them. It shows their level of satisfaction with both the quality of the services provided and the relationship maintained with their private banker.

The year was also marked by the organization of a philanthropic competition, Les Lauréats du Cœur. The involvement of CIC Private Banking employees has enabled six regional associations and foundations to raise funds.

Products and services proposed by Banque Transatlantique Group:

Banque Transatlantique Group is one of Crédit Mutuel Alliance Fédérale entities responsible for the private management of Crédit Mutuel Alliance Fédérale's customers. For more than a century, it has earned, through the distinctiveness of its services and business lines, the confidence of its customers: executive management, entrepreneurs, French citizens working abroad, private investors, large foundations and non-profit organizations.

As a leading player, Banque Transatlantique assists customers in the management, optimization and transmission of their assets. It has recognized expertise in private banking and asset management through its subsidiary Dubly Transatlantique Gestion. With its strong expertise in shareholding mechanisms and plan management, Banque Transatlantique meets the needs of French and international companies of all sizes. It also offers comprehensive support to French nationals living abroad in the management of their assets, thanks to its expertise in taxation and international law. Banque Transatlantique also advises its customers in carrying out their projects by integrating their philanthropic approach into their wealth management strategy.

Its 420 employees, including around a hundred abroad, bring their expertise to Banque Transatlantique Group's customers both in France, through its 11 offices in Paris and in other regions, and abroad. Banque Transatlantique has a network of ten international offices to support its historical customers in the expatriate world. This network, made up of banking subsidiaries, branches and representative offices, is thus established in Geneva, London, Luxembourg, Brussels, Hong Kong, Singapore, Montreal and New York, Boston and San Francisco. In 2020, Banque Transatlantique was ranked as a leading bank in the Wealth Management - Affiliated Private Banks category by Décideurs Magazine. Its asset management subsidiary, Dubly Transatlantique Gestion, was ranked seventh in the Corbeille d'Or category of the magazine Mieux vivre votre Argent.

During the year, Banque Transatlantique launched the first edition of the Observatoire de l'Expatriation - Banque Transatlantique in partnership with Union des Français de l'Étranger (UFE) and Opinionway. This observatory, based on a survey of a large number of French people living abroad, shows the main trends and reasons for expatriation.

At the end of the year, a participatory project called Nouvel R was launched, involving all employees in 21 structural projects for the coming years. These must address three issues: restoring the appeal of the head office premises and rethinking workspaces, promoting the autonomy of employees, and facilitating the appropriation by customers of the bank's offer and its expertise.

Finally, Banque Transatlantique is pursuing its philanthropic activities in two areas. For the benefit of its customers, it is developing the Transatlantic Endowment Fund, which facilitates and encourages its customers' initiatives. Working for associations, it allows Banque Transatlantique and Dubly Transatlantique Gestion employees to get involved in the Solidarity Days.

Products and services proposed by Banque de Luxembourg:

With more than 1,000 employees, Banque de Luxembourg is a benchmark bank for private banking services in Europe, particularly in Luxembourg and Belgium. Specializing in asset management, wealth management, financing and banking services, it serves three types of customers: private customers, corporates and entrepreneurs as well as professional customersfrom the asset management sector.

Banque de Luxembourg offers its private customers a comprehensive and tailor-made solution to meet their needs in terms of the preservation, management and transmission of family assets. It also advises families on issues related to governance or the creation of philanthropic projects. Asset management is provided by BLI - Banque de Luxembourg Investments, the bank's management company, and by the private banking investments teams. The financing activity offers customers a complete range of solutions for private, professional or entrepreneurial projects.

Banque de Luxembourg also advises real estate entrepreneurs and professionals active in Luxembourg on project financing and financial management. In addition, a pioneer in the development of a skills division devoted to investment funds, it provides fund initiators with all the services required for creating their investment vehicles, their central administration and their international distribution. It also offers complete support to independent managers who delegate their administrative tasks, thus being able to focus entirely on management and growth of their business capital.

Banque de Luxembourg was rewarded on several occasions in 2020 for its asset management through its BLI management company and for the performance of its funds. In particular, it received the 2020 European Funds Trophy awarded by Fundclass in the category of "Best Asset Management Company" in Luxembourg. Three in-house funds were also certified sustainable and responsible, BL - Equities Europe and BL - Equities America completing the BL - Sustainable Horizon under the French SRI Label, thus testifying to the expertise of the teams in this area.

Advisors remain the cornerstone of an omnichannel relationship, whose importance has been accentuated by the health crisis. Thus, Banque de Luxembourg continued to develop its digital tools to improve the customer experience. In particular, it enriched the advisor tool and launched a project to create a new technological base to optimize account opening. A Portfolio Management System was also put in place to solidify the infrastructure that supports discretionary management. At the same time, Banque de Luxembourg deployed new technologies such as digital signatures, robotization and electronic document management to gain efficiency and thus better serve customers.

In addition, the bank continues to innovate through the extension of so-called agile practices in project management and the implementation of digital projects for example, the implementation of an information management system based on a single, cross-functional and secure data warehouse to capitalize on the bank's data.

Finally, as a responsible and committed bank, taking into account the interests of all its stakeholders is an integral part of its raison d'être. In 2020 it consulted stakeholders to build an initial materiality matrix. As a result, it was able to define its areas of commitment, the implementation of which will ultimately generate value for its customers, employees, the bank itself, the Group and society. In this context, it has notably set up a commitment policy, extended its SRI investment product offering and also participated in the Luxembourg government's stabilization program in the context of the health crisis.

Products and services proposed by Banque CIC (Switzerland):

Established in Switzerland for more than 100 years and present in nine locations, Banque CIC (Switzerland) is an omnichannel bank combining tradition and innovation, efficiency and flexibility. It aims to meet the financial needs of businesses, entrepreneurs and private individuals. Banque CIC (Switzerland) sets itself apart from other banks by its commitment to entrepreneurial action, its short decision circuits, its financial stability, its advice focused on added value and its custom-made solutions.

In serving its customers, Banque CIC (Switzerland) supports them by giving priority to the human aspect throughout the relationship. Dedicated customer advisors provide personalized support to best meet customer needs. In addition, customers benefit from access to various digital solutions enabling them to interact with the bank. These include Clevercircles, an asset management platform, and CIC eLounge, an e-banking solution. CIC eLounge, which launched in 2019, is getting rave reviews from customers and experts alike, who have given it two awards in 2020. It received bronze in the "Technology" category at the Best of Swiss Web Award and bronze in the "Functionality" category at the Best of Swiss Apps 2020.

Banque CIC (Switzerland) recorded remarkable growth in 2020. It leverages its omnichannel approach by combining personal support and customer proximity with the eLounge solution. The entrepreneurial commitment of customers combined with their confidence in the strength of Banque CIC (Switzerland) has enabled the bank to substantially expand its investment and lending activities. The continued increase in the number of customers with complex and new needs in the areas of business succession, documentary and foreign exchange transactions and specific investment opportunities contributed to the good development of Banque CIC (Switzerland) during the year.

Key figures in 2020

162 billion of capital under management

Nearly 184,000 billion outstanding loans

626 million of net banking income