Brexit strategy implementation - home.kpmg

1 Brexit strategy implementation Keeping access to the EU Single Market Operational setup in Luxembourg Change existing products / structures Establish migration plan (people, processes, Factor in business model changes, systems). e-distribution Think of IT and data architecture setup in Change distribution / legal contracts Luxembourg, including cloud computing Communicate with investors Prepare for new legal and regulatory Prepare contingency plan (where environment necessary) Recruitment of new talent Secure building facilities Talent Substance Regulation Pre- Brexit Post- Brexit business business model model Customers Operations Talent Outsourcing model Authorisation and ongoing supervision Define steps to retain key talent Understand and establish sufficient Meet the local regulator to present Prepare employee ongoing communication substance in Luxembourg business plan plan Prepare post- Brexit business process/task Obtain regulatory license Review Luxembourg remuneration allocations between UK and Luxembourg Monitor capital requirements package / relocation

2 Assistance operations Adapt existing UK documentation Change employment contracts, tax and Define corporate structure model in ( procedures) to new Luxembourg social security Luxembourg operations Set up family support plan, housing, Consider direct and indirect tax Design streamlined regulatory reporting to school implications and filings cover UK/Luxembourg needs Design information flows / person roles to enable proper oversight Notes Notes Notes The Company Luxembourg Ireland Germany Belgium France Spain Netherlands On the Brexit Journey Citigroup CNA Hardy Coinbase Brexit transformation agenda Columbia Threadneedle Credit Agricole Credit Suisse Crux Daiwa Ireland DBRS Credit 40 The Netherlands Dentons 19 Deutsche Bank (Booking Center).

3 Deutsche Bank (Euro clearing). Germany Diamond Biopharm 22 DLA Piper DTCC. Luxembourg Eleva Capital Belgium France 54 Euroclear European Banking 5 19 Authority European Medicines Agency Spain EQT Partners 3 Ferrovial Fidelity Recent relocations announcements First State Investments FM Global Ford Credit Europe Bank Galileo satellite Where are companies relocating to? system Global Aerospace The Goldman Company Luxembourg Ireland Germany Belgium France Spain Netherlands Sachs Hermes Investment 3i Management Aberdeen Standard Investments Hiscox AIG Hitachi Capital UK. Aioi Nissay Dowa HSBC.

4 Insurance Hudson River Trading Admiral Group Plc ICG. Advanced Discovery (Intermediate Inc. Capital Group). Alipay IDEX. AM Best Inmarsat Amlin Insurance Societas European Impax Asset (AISE) Management Ares Asset Investec Management Ipes Artemis Investment Janus Henderson Management Investors Ashmore Group JP Morgan Ashurst Jupiter Fund Management Aspen Insurance LCH. Aviva LGIM. Azimo Legg Mason Baillie Gifford LendInvest Bank of America Liberty Specialty Barclays Markets Baring Asset Lloyd's Bank Management Lloyd's of BC Partners London Beazly M&G. Investments BlackRock Macquarie Bank Blackstone Bloomberg Source: Press announcements up to 21 March 2019.

5 BRE Global Britannia Contacts Brokertec Europe Bupa Capital Group Christophe Diricks Pascal Denis Carlyle Partner Partner CBA T:+352 22 51 51 -5111 T: +352 22 51 51 -7213. E: E: CBOE. Chaucer Ravi Beegun Chrystelle Veeckmans China Everbright Bank Partner Partner Chubb T:+352 22 51 51 - 6248 T: +352 22 51 51 - 6244. E: E: Citibank The Company Luxembourg Ireland Germany Belgium France Spain Netherlands On the Brexit Journey Sumitomo Mitsui Swissquote Group Swiss Re Brexit transformation agenda Thalassa Holdings Thompson Reuters Corp. Tokio Marine Group Toronto Ireland Dominion Bank Securities Unit 40 The Netherlands TP ICAP.

6 19 T. Rowe Price Tradeweb Germany Turquoise 22 UBS. UK P&I Club Luxembourg Union Investment Belgium France 54 Wells Fargo 5 19 Winton Capital Woori Bank Spain XL Insurance 3 XTX Markets Recent relocations announcements The Company Luxembourg Ireland Germany Belgium France Spain Netherlands Macquarie Group Markel Market Axess Marshall Wace Merian Global Investors MFS Investment Management Mitsubishi UFJ. Financial Group Inc Mizuho Financial Group MJ Hudson Money Gram Morgan Stanley Morgan Stanley Investment Management Nex Group Nomura North P&I. Northern Trust Oversea-Chinese Banking Corp.

7 (OCBC). Bank of Singapore Panasonic Polar Capital Ppro Group Principal Global Investors Prudential QBE. RBS. Revolut RSA. Saxo Payments Banking Circle Source: Press announcements up to 21 March 2019. Schroders Scottish Widows SCM Direct Soci t G n rale Contacts Sompo Christophe Diricks Pascal Denis Partner Partner Somerset Capital T:+352 22 51 51 -5111 T: +352 22 51 51 -7213. Management E: E: Standard Chartered Standard Club Ravi Beegun Chrystelle Veeckmans State Street Partner Partner Global Advisors T:+352 22 51 51 - 6248 T: +352 22 51 51 - 6244. E: E: Steamship Mutual