Paris, 7 March 2023

Kepler Cheuvreux announces a major new appointment to continue to grow the firm’s footprint and further develop its activities: Stéphane BOURET has been appointed Deputy Group General Manager, Global Head of Equity Brokerage, reporting to Grégoire VARENNE, Group General Manager.

Kepler Cheuvreux’s Equity Brokerage business, built around its historically very strong Research products, has positioned the Group as the number-one independent Equity Brokerage firm in continental Europe. Kepler Cheuvreux Research has also been the bedrock upon which other businesses have been developed.

As part of its extended responsibilities, Stéphane, one of the Group’s top executives and a key member of the management team, will participate in the strategic decisions and actions that will define Kepler Cheuvreux’s trajectory and positioning for the coming years.

About Stéphane BOURET

After spending five years as a sell-side analyst at HSBC, Stéphane joined the Kepler Cheuvreux Group 23 years ago, first working as a salesman for French clients, later as Head of Sales for the Continental European Client Zone and in the last few years as Managing Director, Global Head of Sales. He was appointed Global Head of Equity Brokerage early last year. Based in Paris, Stéphane graduated from the ISG Business School and the CFAF (Financial Analysis Training Centre).

About Kepler Cheuvreux

Kepler Cheuvreux is a leading independent European financial services company that specialises in Research, Execution, Fixed Income and Credit, Structured Solutions, Corporate Finance, and Asset Management.

The Group employs around 600 people and is present in 13 major financial centres in Europe and the US: Amsterdam, Brussels, Frankfurt, Geneva, London, Madrid, Milan, New York, Oslo, Paris, Stockholm, Vienna, and Zurich.

Group key figures:

* 1^st independent European equity broker.
* EUR2bn of equities traded on average daily.
* 1^st equity research coverage in Continental Europe.
* 1^st country research (Institutional Investor 2022).
* 13 major financial centres in Europe and the US.
* 600 employees.
* 1,300 institutional clients.

Kepler Cheuvreux Solutions is pleased to announce the appointment of Jérémy Sayada as Deputy Head of Kepler Cheuvreux Solutions, Head of Sales, reporting to Nicolas Miara-Godet, Founder & Head of Kepler Cheuvreux Solutions.

Jérémy joined Kepler Cheuvreux Solutions in 2013 after three years as Head of Product Offering at Derivatives Capital and experience at Société Générale as a Cross Asset Structured Products Financial Engineer. He is a graduate of Paris Dauphine University and ENSAE Paris.

Jérémy has been a key player in the development of Kepler Cheuvreux Solutions for almost ten years, making the business line the leading independent provider of structured products in Europe. In his new role, he will be responsible for the entire Kepler Cheuvreux Solutions sales force covering France, Switzerland, Italy, Benelux, Monaco, Israel, the UK, the Nordic countries, and LATAM.

In view of the undeniable success of their partnership over the past five years, Belfius and the leading independent European broker Kepler Cheuvreux have decided to renew their strategic partnership for a further five years. Belfius and Kepler Cheuvreux will continue to develop their equity offering in Equity Capital Market (ECM transactions), Equity Research, Equity Sales & Brokerage.

As part of this ECM partnership, Belfius is responsible for origination and structuring services for ECM transactions in Belgium, while Kepler Cheuvreux provides equity research, brokerage, and institutional sales. The partnership will therefore continue to offer Belgian listed companies and IPO candidates the best equity and ECM platform, ensuring continuous access and visibility with respect to institutional investors both in Belgium and abroad (Continental Europe, the United Kingdom, and the United States).

Thanks to this partnership, Belfius and Kepler Cheuvreux rose to first place for ECM transactions in Belgium in 2022 (in terms of value). Between 2018 and 2022, Belfius and Kepler Cheuvreux advised and assisted Belgian listed companies in 59 ECM transactions (including five IPOs), raising capital in a total amount of around €7.990 billion. In 2022, Belfius and Kepler Cheuvreux were involved in 13 transactions raising nearly €1.853 billion.

Belfius and Kepler Cheuvreux have more than 110 equity analysts and extensive equity research coverage in Belgium (more than 90% of market capitalisation). Kepler Cheuvreux’s Benelux research was ranked second in the Institutional Investor Survey 2022.

In addition to the success in ECM, Belfius continues to maintain a tradition of excellence in Debt Capital Markets as the undisputed leader, as was the case in 2022. In this respect, Belfius received two prestigious awards from Euronext Brussels: “Bond Finance House of the Year” and “ESG Bond Finance House of the Year”.

This strategic alliance has also been reinforced since 2017 through Belfius’ acquisition of a stake in Kepler Cheuvreux (5.02%). Belfius also has a seat on the supervisory board of Kepler Cheuvreux.

Dirk Gyselinck, Member of the Board of Directors of Belfius: “We are pleased to renew our strategic partnership with Kepler Cheuvreux, which allows us to further strengthen our ECM offering and continue to develop and expand our financial services to corporate, institutional and wealth management clients. Through this innovative partnership with Kepler Cheuvreux, Belfius has been able to build a leading position in equity and expertise, which allows us to cost-effectively expand our offering and further diversify our distribution capabilities.”

Laurent Quirin, Chairman of the Supervisory Board of Kepler Cheuvreux, added: “The renewal of the partnership with Belfius demonstrates our model’s performance and highlights the solid position of the Kepler Cheuvreux Group in the European market. We look forward to continuing this collaboration agreement with Belfius, once again looking to the future.”

About Kepler Cheuvreux

Kepler Cheuvreux is a leading independent European financial services company that specialises in Research, Execution, Fixed Income and Credit, Structured Solutions, Corporate Finance, and Asset Management.

The group employs around 600 people and is present in 13 major financial centres in Europe and the US: Amsterdam, Brussels, Frankfurt, Geneva, London, Madrid, Milan, New York, Oslo, Paris, Stockholm, Vienna, and Zurich.

Group key figures:

* 1^st independent European equity broker.
* €2bn of equities traded on average daily.
* 3^rd in number of ECM deals in Europe.
* 1^st equity research coverage in Continental Europe.
* 1^st country research (Institutional Investor 2022).
* 13 major financial centres in Europe and the US.
* 600 employees.
* 1,300 institutional clients.

About Belfius Bank and Insurance

Belfius is an integrated bank-insurer with strong local roots, which carries out its commercial activities in Belgium in three main areas: retail and commercial banking, private banking and wealth management, financial services to the public and social sector and to corporate clients (wholesale banking) and insurance.

With 150 years of experience in the public sector, Belfius has always been the preferred partner of public and social sector entities as well as many SMEs and Mid-Corps in Belgium. It provides its customers with an integrated and comprehensive range of products and services. Its activities in corporate banking focus mainly on companies active in Belgium, with particular attention to medium-sized companies.

Belfius Bank and Insurance is entirely owned by the Belgian state, via the Federal Holding and Investment Company (SFPI).

For more information, please see www.belfius.be

Paris, 30 January 2023

Kepler Cheuvreux announces a major new appointment to continue growing the firm and developing its activities, harnessing the group’s strengths: Jean-Pierre ANÉ as Managing Director, Deputy Group General Manager, Head of Business Development, reporting to Grégoire VARENNE, Group General Manager. In his new role, Jean-Pierre will be responsible for identifying and executing new projects aimed at generating growth in businesses in which the company already operates or those with which it is closely connected.

Previously, as Deputy Head of Kepler Cheuvreux Solutions (KCS), Jean-Pierre has been instrumental in creating and developing KCS, alongside Nicolas MIARA-GODET, Founder and Head of KCS. They both leveraged the strength and resources of the firm to make the KCS business line the leading independent European provider of structured products.

Kepler Cheuvreux’s goal, and Jean-Pierre’s new mission, is to leverage all the group’s strengths to develop new businesses and realise new synergies to reinforce the group’s growth momentum and make it stronger in the long term.

In parallel, and independent of these new responsibilities, Jean-Pierre will continue to be heavily involved in the ongoing development of Kepler Cheuvreux Solutions.

In addition to Jean-Pierre’s appointment, Kepler Cheuvreux is continuing to develop its footprint through some strategic hires for its Execution activity (KC^X), with the development of its London, New York, and Milan desks. It is also growing through the ongoing development of Kepler Cheuvreux Solutions, the Fixed Income and Credit Business line, developing Distressed High Yield & Special Situations, and Credit Emerging Markets activities, and its Asset Management activities with KC Invest and Ellipsis AM.

About Jean-Pierre ANÉ

Jean-Pierre ANÉ graduated from Ecole Normale Supérieure and L’ENSAE Paris. He worked in Wealth Management Research at UBS, then at Credit Agricole CIB as an Interest Rate and Hybrid Structurer. Jean-Pierre has been working at Kepler Cheuvreux since 2010 as Head of Financial Engineering, Head of the Geneva-based Sales teams, and Deputy Head of Kepler Cheuvreux Solutions.

About Kepler Cheuvreux

Kepler Cheuvreux is a leading independent European financial services company that specialises in Research, Execution, Fixed Income and Credit, Structured Solutions, Corporate Finance, and Asset Management.

The group employs around 600 people and is present in 13 major financial centres in Europe and the US: Amsterdam, Brussels, Frankfurt, Geneva, London, Madrid, Milan, New York, Oslo, Paris, Stockholm, Vienna, and Zurich.

Group key figures:

* 1^st independent European equity broker.
* €2bn of equities traded on average daily.
* 1^st equity research coverage in Continental Europe.
* 1^st country research (Institutional Investor 2022).
* 13 major financial centres in Europe and the US.
* 600 employees.
* 1,300 institutional clients.

Kepler Cheuvreux Solutions has been ranked the best independent provider of structured products in France for the 8th consecutive year by Gestion de Fortune magazine.

We would like to warmly thank all our clients and partners for their renewed trust in 2022.

The entire team is at your side to accompany you throughout this year. Much is to come, stay tuned!

Paris, 16 January 2023 – Today, Shark Robotics (“Shark”), a technology company specialising in firefighting, defence and nuclear robotics, has announced a EUR10m financing round with pan-European growth equity investor Move Capital Fund I.

This funding will allow Shark to strengthen its position as a global market leader by increasing R&D investments, accelerating the internationalisation already initiated through its subsidiary Shark Asia, and further developing its production facilities.

Founded in 2016 in La Rochelle, France, Shark designs and manufactures unmanned ground vehicles (UGVs) for hostile environments, with expertise in the entire robotics value chain: hardware, software & artificial intelligence, and batteries. Awarded in France and the United States, Shark robots increase operational efficiency, preserve human lives, and reduce environmental impact.

The company has already delivered more than 100 robots in 15 countries. Shark robots are used by public institutions in civil security and defence (French Ministry of Defence, Paris Fire Brigade, and Home Security Ministry) and by the industrial sector (Orano, ArianeGroup). Among its notable robots, Shark created the Colossus, the firefighting robot that intervened for more than ten hours at 800 degrees Celsius during the Notre-Dame cathedral fire in 2019.

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“This round of funding will enable Shark to accelerate its development as robotics is gaining momentum in the way operations are being handled. As tools for the common good, our robots provide a lot of efficiencies in operations and protection in dangerous situations. We are delighted to welcome Move Capital, as its expertise and values fully match Shark’s DNA. This investment will also contribute to the process of reindustrialisation in France, and to the creation of high value-added jobs,” commented Cyril Kabbara, founder and CEO of Shark Robotics.

“Shark Robotics combines cutting-edge technology with a positive human and environmental impact.  The company has gained the trust of leading global institutions, and also benefits from a strong international development potential. At a time when terrestrial robotics provides new solutions to human and environmental safety issues, we are delighted to stand alongside Cyril and his teams to support Shark in this new stage of its development and to consolidate its leadership position in its segment,” said Sophie Sursock and Hervé Malaussena, co-founders of Move Capital Fund I.

About Shark Robotics

As a leader in ground robotics in hostile environments, Shark Robotics designs and manufactures catalogue and custom robots for the fire safety, nuclear, security & defence and space end markets. Founded in La Rochelle in 2016, Shark Robotics masters the entire robotics value chain, from hardware, software & AI to batteries for extreme environments. Its multi-mission robots – firefighting, mine clearance, and mule – are now used in more than 15 countries.

About Move Capital Fund I

Move Capital Fund I is managed by KC Invest, an AMF-accredited management company affiliated with the Kepler Cheuvreux group. It invests in growth equity in the field of technology, digital services, and solutions for companies with high scale-up potential (https://move-capital.com/). In addition to its proven track record in technology investment, the Move Capital team has solid experience in entrepreneurship and the operational management of tech companies. Move Capital also relies on a strategic committee of experts including technology specialists who use all their experience and know-how to identify high-potential targets and support companies’ growth in a virtuous way, notably through a rigorous ESG approach.

The portfolio management company KC Invest has chosen Greenly to proactively manage its carbon emissions reduction policy for scopes 1, 2 and 3, i.e. for KC Invest itself and its investment strategy Move Capital, and utmost for portfolio companies.

Through this partnership, which is key to achieve KC Invest’s midterm carbon neutrality objective, KC Invest provides its portfolio companies with an assessment of their greenhouse gas emissions, so that they can draw up an action plan to reduce their impact on the environment.

Founded in 2019, Greenly makes carbon management simple and intuitive for companies of all sizes to let them fast-track the transition to a net-zero-carbon economy. In practice, Greenly’s SaaS enables companies to measure, reduce and offset their carbon footprint based on international carbon accounting standards such as the GHG Protocol, while engaging their entire ecosystem, from employees to suppliers, in their climate journey.

More information: http://www.greenly.earth

Kepler Cheuvreux is proud to announce its third Charity Trading Day, which will be held on Thursday 24th November, coinciding with the US Thanksgiving holiday.

The contributed commissions* received on 24th November on European equities will be donated to our anchor projects across Europe, which focus on the nurturing, protection, and education of young people. Also, this year, due to the cost-of-living crisis, we will make donations to food banks we have previously supported. Last year’s Charity Trading Day raised nearly EUR400,000.

From a standing start in June 2020, thanks to the contributions from the company, its employees, and our clients, the Foundation has so far donated EUR2.9m to charities in nine European countries.

For further details, please go to: https://www.keplercheuvreux.com/en/foundation/.

If you have any questions, please contact your usual sales trading professional or email us at: [email protected]

*Net commission after execution, clearing and settlement fees.

Paris, 10 October 2022

Kepler Cheuvreux Solutions, the business line of the Kepler Cheuvreux Group dedicated to tailor-made structured investment solutions, announces a new organisation of its Research.

This is organised into three main pillars:

1. Strategic allocation: The Economics & Strategy Cross-Asset team is responsible for strategic allocation. It produces quantitative and technical analysis as well as macroeconomic scenarios.

2. Investment themes: Based on strategic allocation, this team aims to identify differentiating, high-performance and directly investable investment themes, with a particular focus on ESG approaches.

3. Equity, Credit, ESG, Quantitative Research: Company analysis relies on the group’s 130 analysts, covering more than 1,000 stocks and issuers in Europe. Outside Europe, Kepler Cheuvreux has entered into partnerships with Piper Sandler in the United States and Macquarie in Asia-Pacific in order to reach more than 3,300 stocks covered.

This system has recently been strengthened with the arrival of Philippe Ferreira, Deputy Head of Economics & Cross-Asset Strategy, Tristan Abet, Thematic Investment Specialist, and Adam El Cheikh, ESG Investment Specialist.

In addition, an Investment Committee has been set up to systematically review existing strategies, detect new opportunities, and participate in the management of 150 dynamic investment vehicles.

“This new organisation strengthens our unique model, combining research and tailor-made engineering, and allows us to better serve our clients in the implementation of actively managed strategies, for which we are a major player in Europe.” says Jean-Pierre Ané, Deputy Head of Kepler Cheuvreux Solutions, in charge of Financial Engineering.

Investment themes represent a large part of the assets invested with Kepler Cheuvreux Solutions. Since the beginning of the year, of the EUR3bn euros of products developed by the business line, more than half are based directly on the convictions of our Research.

About Kepler Cheuvreux Solutions

Kepler Cheuvreux Solutions is the independent European leader for research, design and commercialisation of tailor-made structured investment solutions. Being part of the Kepler Cheuvreux Group enables the business line to place Research at the heart of its offering and to benefit from the critical size of a major player in financial services in Europe.​

Created in 2011, this business line – based in Paris, Geneva, Zurich and Stockholm – now employs more than 55 experienced professionals, one-third of whom are financial engineers. The team embodies five fundamental values to serve their clients: creativity, adaptability, independence, cohesion, and stability.​

Kepler Cheuvreux Solutions’ offering and services are based on four pillars:​
1) Cross-asset research, relying on the largest equity coverage in Europe, with 130 analysts.​

2) Financial engineering, designing differentiating investment solutions in full independence.​

3) Open architecture, giving privileged access to more than 30 issuing banks.​

4) Personalised follow-up, combining local commercial support and the implementation of dedicated digital solutions.

Taking no position on the financial markets, Kepler Cheuvreux objectively detects the best investment opportunities for its clients. Its unique positioning allows it to meet the needs of institutional investors, asset managers, and distribution networks in Europe and Latin America.​

Kepler Cheuvreux is proud to announce the results of the 2022 Institutional Investor Survey for Europe (Research).

Kepler Cheuvreux confirms its leading position in European Research:
> #1 Country Broker
> #1 for Country Research
> #3 for Small & Mid Cap Research

Best ranked independent Research with 14 sectors in top 10.

Best Country Broker:
> #1 for Austria
> #1 for Germany
> #2 for Benelux
> #2 for France
> #3 for Iberia
> #3 for Italy
> #4 for Switzerland
> #5 for Nordics

Best Country Research:
> #1 for Austria Research
> #2 for Benelux Research
> #2 for France Research
> #2 for Germany Research
> #3 for Iberia Research
> #3 for Italy Research
> #4 for Switzerland Research
> #4 for Nordics Research

20 Kepler Cheuvreux analysts in the top 10 for country voting category.

Congratulations to our outstanding staff!

Thank you to our clients and partners for their continued support and to corporates for their trust.

Paris, 6 July 2022

Kepler Cheuvreux is pleased to announce that Arnaud Girod has been appointed Head of Economics & Cross-Asset Strategy, replacing Christopher Potts. After eight years as Co-Head of Institutional Research, Arnaud is returning to his first passion: the market. He will be supported by a team of five senior members: Philippe Ferreira, appointed Deputy Head of Economics & Cross-Asset Strategy, who recently joined Kepler Cheuvreux after many years of experience in Cross-Asset Strategy at Société Générale CIB, Lyxor AM and CIC, Martin Guri (Head of Nordic Strategy), Clément Genès (Senior Economist), Joakim Tabet (Strategist), and Edouard Garrana (top Institutional Investor Survey, Senior Chartist).

“I’m thrilled to be given the opportunity to work even more closely with such a great team, reinforced by the arrival of Philippe Ferreira who will extend our range of expertise. We look forward to supporting our clients during this complex market phase” stated Arnaud Girod, Head of Economics & Cross-Asset Strategy at Kepler Cheuvreux.

Kepler Cheuvreux Group wishes to warmly thank Christopher Potts for his outstanding contribution over many years.

In addition to this announcement, Kepler Cheuvreux has appointed Natalia Bobo as Co-Head of Institutional Research and Marco Baccaglio as Co-Head of Institutional Research & Head of Primary Research to continue the development of this activity.

Head of Economics & Cross-Asset Strategy – Arnaud Girod

Arnaud (a Franco-Italian national) was Co-Head of Institutional Research at Kepler Cheuvreux for eight years, working alongside Jose Hernandez and Mathieu Labille. During that time, he helped expand the company’s stock coverage from around 400 to 1,000 stocks, and passionately promoted the values of independence and collaboration. He developed Das Research, the company’s quality standard, and in-depth research templates, as well as the video platform KC Discovery, and also led Kepler Cheuvreux’s ESG integration project. Since 2013, Arnaud has also authored a hybrid top-down/bottom-up quarterly report that builds European high-conviction portfolios. He joined Kepler Cheuvreux in 2008 as an Equity Salesperson selling European equities to UK investors. He started his career in 2001 with BNP Paribas in London after graduating from Paris Dauphine University with a Master’s degree in Financial Markets.

Deputy Head of Economics & Cross-Asset Strategy – Philippe Ferreira

Philippe has extensive experience, having worked as an Economist and a Cross-Asset Strategist over the past 20 years. He spent more than 15 years at Société Générale in a variety of positions, both in sell-side and buy-side research. He started his career as an Economist in international organisations in the early 2000s. Philippe joined Kepler Cheuvreux in June 2022 as Deputy Head of Economics & Cross-Asset Strategy. He graduated from the Panthéon-Sorbonne University and has a Master’s degree in international and quantitative economics.

Co-Head of Institutional Research – Natalia Bobo

Natalia was a sell-side analyst for more than 25 years, covering a range of sectors at various brokerage firms – including 14 years at Kepler Cheuvreux, where she focused on healthcare, retail, IT, media, and energy stocks. In 2017, she joined TREA Asset Management as Head of Equity Research and a member of the ESG team. She returned to Kepler Cheuvreux in 2021 to form part of the Content Management team as Deputy Head of Institutional Research, leveraging on her extensive expertise in research on both the sell-side and the buy-side. Natalia graduated in Business Administration from CUNEF in Madrid.

Co-Head of Institutional Research & Head of Primary Research – Marco Baccaglio

Marco joined Kepler Cheuvreux in November 1993, first as a trader (1993-96), then an equity analyst in the Industrial and Media sectors (1996-98) and Deputy Head of Research covering the telecom sector before being appointed European coordinator for the telecom sector in 2002. He was Head of Italian Equity Research between 2004 and 2013 and has been Head of Primary Research since 2021. Marco received his degree in Economics (specialising in financial markets) from Bocconi University in Milan, Italy. He is a CFA Charterholder.

About Kepler Cheuvreux

Kepler Cheuvreux is a leading independent European financial services company that specialises in Research, Execution, Fixed Income & Credit, Structured Solutions, Corporate Finance, and Asset Management.

The group employs around 600 people and is present in 13 major financial centres in Europe and the US: Amsterdam, Brussels, Frankfurt, Geneva, London, Madrid, Milan, New York, Oslo, Paris, Stockholm, Vienna, and Zurich.

Group key figures:

* 1^st independent European equity broker.

* EUR2bn of equities traded on average daily.

* 1^st Sell-Side Equities Trading Desk (Markets Choice Awards 2021).

* 1^st Equity Research coverage in Continental Europe.

* 1^st Country Research (Institutional Investor 2021).

* 13 major financial centres in Europe and the US.

* 600 employees.

* 1,200 institutional clients