TlB Annual Report 2009 - Triodos Bank

TRIODOS MEESPIERSON
Triodos MeesPierson Sustainable Investment
Management manages the sustainable assets of
Triodos Bank clients and MeesPierson clients.
The combined assets under management of
Triodos and MeesPierson recovered from its
decline in 2008. By the end of 2009, it managed
eur 815 million compared to eur 671 million the
year before. Again, private investors contributed
most to this growth, rather than charities and
foundations. Revenues in the joint venture
were boosted by the introduction of the
sustainable asset management advice that
Triodos MeesPierson provides for abn amro
equity asset management services.
Albert van Zadelhoff: ‘Triodos Bank
Private Banking has built a
reputation as a sustainable and
robust provider of banking and
asset management services. Because we
respond positively to the challenging times
around us - rather than become a victim of
them - all our stakeholders profit.’
OTHER DEVELOPMENTS
As in previous years, Triodos Bank Private
Banking has introduced its expertise to potential
semi-institutional clients. As well as our
usual participation at the Dutch Civil Society
annual conference for charitable organisations,
we were an active member of the preparatory
committee of the organisation for private
charities (fin) at their first sustainability
work shop. Also, as the only bank, we were
present on a trade fair for Christian organisations.
Charitable organisations are increasingly
aware that their investment policy is an integral
part of their social mission. As such, Triodos
Bank is a natural partner. Triodos Bank will
continue to raise its profile with these
organisations.
Meetings in The Netherlands and Belgium for
prospective depository receipt holders were
especially successful. Sustainable banking and
the role of the semi-institutional clients was
discussed in them, leading to high levels of
investment in Triodos Bank depository receipts
by Triodos Bank Private Banking clients.
Financially, the integration of part of the asset
advice services of the Dutch branch led to a
temporary decrease in the net result for Private
Banking in The Netherlands. In Belgium, the
results of Private and Personal Banking is fully
consolidated in the branch figures.
PROSPECTS FOR 2010
We will further develop our focus on wealthy
private investors. This market segment is
increasingly critical of their bankers’ behaviour,
concerned by its wider impact on society and
the environment, and aware that Triodos Bank
offers a positive alternative.
Although 2009 has been a very profitable year
for investors, the general climate for more equity
investments is still relatively subdued. At the
same time saving has become progressively less
attractive. We expect this to continue in 2010,
resulting in continuing interest in alternative
investments. Our integrated sustainable banking
proposition - which offers all assets and
liquidity management on a 100% sustain able
basis - makes us powerfully distinct from the
competition and is at the heart of our growth.
On the strength of it we expect to pass eur 500
million of assets under management during
2010. Financially, we expect to narrow our
operational losses during the year in The
Netherlands, and be profitable in 2011.
In Belgium, Triodos Private Banking will
expand its existing private banking operations
further, with a specific emphasis on private
asset management. We will also conduct a
study to see whether it is feasible to introduce
private banking services in the uk.
Zeist, 24 February 2010
Albert van Zadelhoff, Director
For more information:
www.mscibarra.com
www.verenigingvanfondsen.nl
www.civilsociety.nl
40 TRIODOS BANK - ANNUAL REPORT 2009