KEPLER CHEUVREUX

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In April 2013, Kepler completed the acquisition of CA Cheuvreux from the vendor, Crédit Agricole CIB. The combination of Kepler and Cheuvreux creates a multi local equity brokerage powerhouse in Europe with services in Research, Distribution, Sales Trading, Trading, Corporate Access, ETFs, Corporate Brokerage and Research & Execution services to the retail networks of the Crédit Agricole Group.

Thanks to Kepler's scale and independent status, it has been able to form separate strategic alliances in Equity Capital Markets with two of Europe's leading banks: UniCredit and Crédit Agricole CIB. The bankers from UniCredit and Crédit Agricole CIB leverage their corporate lending relationships in order to originate ECM business. The role of Kepler Cheuvreux is to provide the research and distribution platform to support each group's ECM business.

Kepler Cheuvreux is a truly entrepreneurial business with employees and management owning 38.3% of the equity. The minority shareholders are Crédit Agricole CIB, UniCredit, BlackFin Capital Partners, CDC, Gruppo Banca Leonardo, Akina and Crédit Mutuel Arkéa. The ratio of front office staff to management & support is 3:1 which Kepler feels also reflects Kepler's entrepreneurial mind-set. The arrival of new minority investors brings additional resources which will help us to seize even more entrepreneurial opportunities via organic growth and acquisition.

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