CA Indosuez (Switzerland) SA - 2018 Annual Report

10

Indosuez Wealth Management Group

Message from the General Management

of Indosuez Wealth Management Group

We consolidated our international positioning and successfully integrated a number of staff from our recent acquisitions in Asia and Monaco. In addition, we have hired new staff in Spain and the Middle East. The know-how of these new team members will enable us to strengthen our position on our most important markets. The wealth management regulatory framework was tightened again during the year. The adaptation of our compliance and financial security standards in line with the stricter requirements of the Crédit Agricole Group remains a priority. In this rapidly changing world, we have embarked on a major transformation, including the spin-off of Azqore, and Capgemini's acquisition of a stake in the new subsidiary. The two groups now have everything

Investors will see 2018 as a transition year. The combination of geopolitical uncertainty and tensions over protectionism caused a market downturn. Moreover, ever- increasing regulatory sophistication and the competitive environment put strong

pressure on both our costs and earnings.

Although these headwinds impacted our levels of activity, these remained steady thanks to the commitment of all our teams across the world, as well as our broad and distinctive offering. A key achievement in 2018 was the completion of major projects, enabling our Bank to enter a new phase.

Jean-Yves Hocher

Chairman CA Indosuez Wealth (Group)