Presentation (correction slide 18) - Dexia.com
Presentation (correction slide 18) - Dexia.com
Presentation (correction slide 18) - Dexia.com
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Intra-group synergies 2008-2011: Start pooling Group<br />
resources and capabilities<br />
Project tracking<br />
Centralised purchasing<br />
• Budget driven pressure on purchasing categories<br />
• Tight demand management<br />
• Price re-negotiation on specific purchasing categories<br />
• Leverage of Group purchasing power through consolidation of suppliers, Group<br />
contracts and Group policies<br />
TFM adaptation<br />
• Adapt front-office teams to new market conditions (flatten TFM governance, redesign<br />
of bonds origination and distribution activities)<br />
• Streamlining of back-offices<br />
Re-design of the support lines<br />
• Effectiveness and efficiency on support functions (mainly in <strong>com</strong>pliance / legal /<br />
tax, human resources, <strong>com</strong>munication & brand, operations & IT and audit)<br />
Real estate optimisation<br />
• Decrease in number of buildings at local headquarters‘ level and optimisation of<br />
floor space occupation<br />
Start of IT development optimisation<br />
• Leverage cross-entity <strong>com</strong>petences<br />
Intra-group synergies estimates 1<br />
~EUR 285 m<br />
157<br />
Note: (1) Impact before wage drift and inflation; includes ~EUR 50 m savings in 2011 part of the announcement of September 15 th 2010, subject to<br />
Workers Council advice
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