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Specialty Finance

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End-to-End Efficiency Enhancements to Fund Future Growth<br />

Efficiency Ratio<br />

(%)<br />

45<br />

Excluding SLX<br />

Including SLX<br />

40<br />

39.0<br />

40.0<br />

39.9<br />

35<br />

39.0<br />

37.5<br />

36.9<br />

2004<br />

9 mos.<br />

2005<br />

9 mos.<br />

2006<br />

9 mos.<br />

Sales Drivers<br />

• Maturing sales force<br />

• Enhanced lead-generation and<br />

prospecting tools<br />

• Broader product set<br />

• New global markets<br />

Operations Drivers<br />

• Scaling of operation<br />

• Best-practice sharing across platforms<br />

• LEAN processes to reduce ‘waste’<br />

• Improved technologies

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