CONNECT / 1 by Vous S.A.

summer 2011

Connect I n f orm atio n T e l l s I n s ig h t R e v e a l s

Contentsâ&#x20AC;&#x2030;: Editorial....................................... 2

INTRODUCING Thomson Reuters Eikon

New Era. New Tools.....................3 Interview Lode De Vrieze.............................. 4 Award Winning Reuters Pictures.......................... 5 Interview John Fennelly............................... 6 Thomson Reuters Eikon for Wealth Management..............7 Events.......................................... 8

This is more than a new product, it's a new beginning.

“ The right information in the right hands leads to amazing things. ” Isabelle Thomas

Senior Site Representative - Belgium Head of Client Specialist WM EMEA

editorial Welcome to the first EDITION of CONNECT Dear Customers, There's a principle some call the Butterfly Effect. It says that when a butterfly flaps its wings in New York, you get rain instead of sunshine in Beijing. The effects of a random event can create a ripple felt around the world. We believe in a different principle. One based on order, not chance. One that says through knowledge, businesses and professionals everywhere can steer the course of events. Grow economies. Promote justice. Even save lives. Over 20 million professionals rely on the intelligent information we provide to help them spark ideas and actions that positively affect millions more. In business. In government. In the world in which we live. Because the right information in the right hands leads to amazing things. That’s The Knowledge Effect. And it's of course about getting the information to you at the right time so that you get to see the future first. This newsletter is a channel to share information and to connect to each other with some challenging topics: • your view on the market: this is your forum to connect with your colleagues and peers ; • the best pictures - from Reuters photographers ; • the latest update on our product offering ; • articles on topics that make the market move ; • key events in the Belgium financial community. 2010 was the beginning of a journey for Thomson Reuters with the launch of our new tools : Eikon, Insider and Elektron. Today, this newsletter focuses on Wealth Management. With the summer knocking on our door, I wish you all in advance a fantastic holiday on behalf of the whole Belgium Thomson Reuters Team. Feel free to share all your suggestions and thoughts by contacting me personally on Thomson Reuters Messaging or by e-mailing isabelle.thomas@thomsonreuters.com. Let's connect ! Warmest Regards,

Isabelle Thomas

Senior Site Representative Thomson Reuters Belgium Head of Client Specialist WM Europe, Middle East & Africa

Elektron

NEW ERA NEW TOOLS 1

Eikon

Thomson Reuters Elektron - What is it ? 1. Elektron addresses the keychallenges the financial industry faces in the continuing drive towards trade automation. It will transform the way the financial markets connect and grow. 2. Elektron will allow financial firms of all sizes to trade faster, connect to more markets and interact with each other across a global resilient cloud, whilst significantly operational costs. 3. A its core Elektron is an interactive, ultra high speed resilient globally networked cloud for both Thomson Reuters and our clients. 4. Integral to this service are strategically located proximity hosting sites in all major financial centers and high speed connectivity to execution venues's own co-location sites. Together they provide the fabric to link and interact with all of the world's financial markets and participants. 5. Elektron will help unleash the genius of the financial markets by providing bi-directional connectivity for communities on the secure network - allowing the open creation and exchange of data, transactions and ultimately increased business opportunities.

Today a new era begins: Thomson Reuters Eikon, the ultimate set of financial tools for a new generation of financial professionals is available worldwide. Our revolutionary new financial desktop is more comprehensive, more intuitive and more collaborative than anything you've ever worked with. The launch of Thomson Reuters Eikon is just the beginning of our journey. We will continue to deliver innovation and flexibility in our products and platform, to serve the new realities of the financial world in which you operate. And the excitement isn't just on your desktop.

Insider

If you would like to find out more about Thomson Reuters Eikon or would like to arrange a demo, please contact your Account team. “Today's generation of financial professionals demand tools that are intuitive, rich in data and analytics, and highly connected, to give them an edge. Eikon is a fundamental shift for our company and our industry. It will constantly adapt to help customers thrive in this new era. The launch signifies another key milestone in our strategy to build an open and connected global financial community,” said Devin Wenig, CEO, Thomson Reuters Markets.

REUTERS INSIDER

Video newsAND and insight. VIDEO NEWS INSIGHT FOR FINANCIAL PROFESSIONALS TO THE POINT. PERSONALIZED. INTERACTIVE. To the point. Personalized. Interactive. The Reuters Network empowers you financial to deliver Reuters Insider is a powerful new videoInsider experience that gives your video content into the workflow of hundreds of professionals the ability to go beyond the headlines and access in-depth thousands of financial professionals worldwide. By leveraging this dynamic, multimedia of Reuters analysis. Get live and on-demand programming, created platform specifically for Insider you can distribute your research and market institutional businesses, from Reuters and 100+ leading providers the commentary straight to the desktops and mobilein phones of Thomson Reuters customers and key decision makers Reuters Insider Network. Manage it all through a personalized interface in the investment community. giving you control of what you watch.

Inside the markets.

“ The launch signifies another key milestone in our strategy to build an open and connected global financial community ”

Become an Insider today Join the Reuters Insider Network Contact InsiderNetwork@thomsonreuters.com Start watching now Apply at insider.thomsonreuters.com

Reuters Insider programming features commentary and analysis from Be a guest on Reuters Insider our experts such as Reuters BreakingViews, IFR Contact our news desk at and Lipper in addition InsiderGuest@thomsonreuters.com to leading industry newsmakers. Our programming is supported by over 2700 journalists in 190 countries, giving us an unparalleled global reach. The breadth and depth of our coverage provides you with a unique market perspective that financial television does not. © Thomson Reuters 2010. All rights reserved. 47001084 0310

Devin Wenig

CEO, Thomson Reuters Markets

“ We are worried about the effects of the second round of quantitative easing. ” Lode De Vrieze Directeur Private Banking Petercam

THERE ARE OPPORTUNITIES ON THE LONGER TERM After a strong 2010, sovereign debt fears in Europe and the upcoming end to quantitative easing in the United States have made 2011 more challenging, but there are opportunities for the longer term, Lode De Vrieze, director at Petercam Private Banking, told Reuters. “We are worried about the effects of the second round of quantitative easing,” he said. “When the first round was stopped, financial markets went down. Once the second round was announced they were boosted again. Adding to that the troubles surrounding Greece, we fear that we could enter a period which could be difficult for equity markets,” he said. Petercam has reduced the initial overweight position it had on equities at the start of the year, especially in emerging markets. De Vrieze said that while emerging market equities remained attractive in the longer term, future interest rate increases in these markets will affect growth and inflation. Petercam in general puts less emphasis on Eastern Europe, looking to China and Brazil as the most important emerging market growth engines, he said. In general, Petercam looks for stocks with a strong dividend yield, but it remains cautious with banks. De Vrieze said that while growth stocks did well last year, stocks that pay dividends are advancing in 2011. “Institutional investors are once again showing some appetite for shares, but mainly for stocks that pay a dividend, as an alternative to the yield that one gets on bonds. Dividend yields are getting higher than bond yields and that is a situation when shares become interesting,“ he said. De Vrieze said that the spread between corporate bonds and government bonds had almost completely disappeared, making them less attractive, which is why Petercam sold them in favour of sovereign paper. “In the newspapers they pointed out that AB InBev can get cheaper money than the Belgian state,” he said, adding that margins on government bonds were slightly better. Petercam prefers German bonds, while also looking at more peripheral countries such as Belgium, Italy and to a limited degree Spain, he said. “We have now also increased our cash part because we are a bit more cautious. We always have some gold as insurance, maybe 2-5 percent. Imagine if the European Union was to collapse, gold would increase even more,” he said. De Vrieze said Petercam also tracks larger themes, such as agriculture.

“Agrivalue will be a crucial topic in the long term. As emerging countries develop,

food patterns change as well. Where people were eating rice in the past, they are now demanding chicken or beef. But you need more rice to feed chicken and cattle. The problem is only becoming larger,” he said. One of Petercam’s more cautious portfolios tracks companies with long-term promise. “This fund tracks companies that will still exist in 20 years, that will still pay a dividend and be profitable. There aren’t many of those, but they exist,” De Vrieze said. “We also look at real estate, especially real estate investment groups. They have been hit hard by the crisis and they now have good valuations and an attractive yield,” he said.

Lode De Vrieze

Award Winning Reuters Pictures We would like to share two award winning Reuters Pictures with you and focus on the work of our Belgian colleagues, Yves Herman and Thierry Roge. The first award is called 'Dexia Press Award Photography 2011'. There were 200 entries submitted at Dexia for the 48th edition, all judged by preliminary juries made up of media professionals, experts, academics and representatives of Dexia. 28 works were nominated for the final round and Yves Herman came out as the winner in the category Photography. After winning the Dexia Prize, Yves also won the 1st prize in News category of the Nikon Press Awards 2011, with the same picture.

Dexia Press Award Photography Yves Herman - photographer at Reuters Belgium “ This picture has been taken during a NATO Summit in Lisbon last year in November. EU Council President Herman Van Rompuy attended the meeting as a guest representing the European Union. The picture was taken when the NATO leaders were gathering for the family photo. U.S. President Barak Obama was having a chat with some foreign leaders and NATO Secretary General Lars Lokke Rasmussen, when President Van Rompuy arrived. Van Rompuy walked into their direction and

Yves Herman, photographer at Reuters

Find out more on : www.pictures.reuters.com

Nikon Press Awards Thierry Roge Reuters Photographer Belgium

The second award, won by Thierry Roge is the “Nikon Press Photo Awards 2010, category Sport''. This picture shows that making great sports pictures is not all about being in “the right place, at the right time'' but also about focusing on getting the best shot you can at any moment in the match. Jelena Jankovic of Serbia serves to Daniela Hantuchova of Slovakia during the French Open tennis tournament at Roland Garros in Paris May 31, 2010.

then suddenly, for some reason, he decided not to and walked behind the group. He went to the platform far from the group and stayed there alone. He stayed like this for quite a long moment which created a strange atmosphere. He looked a bit embarrassed. After a moment, when the French President Sarkozy arrived, he finally joined their group. It's a funny picture showing a man behaving strangely. He was supposed to join the group and share the moment with them but decided to stay alone ! ”

5 5

“ We see significant opportunity in the future growth of wealth management, with Europe remaining the strategic hub. ” John Fennelly

Global Managing Director Wealth Management

OUR NEW FLAGSHIP DESKTOP FOR WEALTH MANAGERS I am delighted to announce the launch of Thomson Reuters Eikon for Wealth Management, our new flagship desktop for wealth managers across Europe and Asia. We see significant opportunity in the future growth of wealth management, with Europe remaining the strategic hub. But with continued industry growth come new challenges and increased competition for wealth managers. We live in an era where news and information are available anytime, anywhere - information is more prevalent than ever before. Wealth managers need to respond more quickly and more intelligently to clients. In this new era, Thomson Reuters Eikon for Wealth Management delivers new tools - enabling wealth managers to provide insightful, timely advice and a high-touch client service. Eikon for Wealth Management leverages an intuitive, easy-to-use interface with powerful and intelligent search across news and indepth, global coverage of all asset classes. Uniquely designed for wealth managers, Eikon for Wealth Management includes a range of highly personalized tools, providing insight and analytics as they relate to key client portfolios - all at your fingertips. Powered by Thomson Reuters premium content sets such as IBES fundamentals, Lipper Funds coverage, Reuters News and Reuters Insider - Eikon for Wealth Management delivers true insight, not just information, keeping wealth managers ahead of their competitors.

The Eikon for Wealth Management launch marks the first step in a journey - our future roadmap includes the integration of value-added workflow tools such as eXimius.

“ As Belgium is amongst the largest wealth management centers in the Euro zone, your feedback on Eikon for Wealth Management is critical. ” As Belgium is amongst the largest wealth management centers in the Euro zone, your feedback on Eikon for Wealth Management is critical. I am eager to hear directly from you so feel free to mail me on john. fennelly@thomsonreuters.com. You will find more about Eikon for Wealth Management on the next page, with an exclusive interview with Peter Schramme, Head of Global Wealth Management Products, and Mark Brusadelli, Product Owner Wealth Management Desktop, Europe Middle East, Africa & Asia. Warmest Regards John Fennelly

Thomson Reuters Eikon FOR WEALTH MANAGEMENT

With the release of Eikon for Wealth Management on May 5, private banks and retail wealth managers in EMEA and Asia can now be counted among the growing list of Thomson Reuters Eikon target customers. We sat down with Mark Brusadelli, Product Owner Wealth Management Desktop and Peter Schramme, Head of Global Wealth Management Products, to discuss this new offering. Eikon for Wealth Management is hitting the market, happy ? Mark Brusadelli : “ Extremely happy. It was a huge and demanding challenge for the all those involved - from development, QA through to the product and delivery team - so getting this point is very rewarding. It was very important that after the successful launch of the premium Eikon product the Wealth Management SBU of Thomson Reuters introduced a tailored offering for the Wealth Managers and Private Banks, which we did with Eikon for Wealth Management. ” Peter Schramme : “ It is hard to underestimate the importance of this new offering. Eikon for Wealth Management is a key plank in our strategic objective to build the global footprint of the Thomson Reuters Wealth Management business. It will bring us into a completely new playing field. I believe that’s the way a market leader as Thomson Reuters should behave : running upfront. ” Who is the target audience for Eikon for Wealth Management ? Mark Brusadelli : “ This offering should appeal to a broad audience, but our initial focus will be staff in Front office functions. These users include relationship managers, financial advisors and private bankers who work for financial services firms in EMEA and Asia that provide financial services or advisory services to retail investors ranging from mass affluent/HNW/UHNW. Firms types include Private Banks, Universal banks and Retail Wealth Management firms across all our customer segments. ” What makes Eikon for Wealth Management so different in your eyes? Mark Brusadelli : “ Eikon for Wealth Management delivers everything finance professionals should come to expect from a company like Thomson Reuters : an intuitive interface that allows them to easily navigate and access our high value content like Reuters News and the Lipper funds database, combined with the personalization features to make the product relevant to their workflow. The extremely good news is that through our Early Access and Beta programs, user feedback re-enforced these themes. They found the product extremely easy to use - the smarter search and filtering being recognized as a major step change compared to their previous experiences with our products. They also really appreciate how we have improved the integration and accessibility of our content through our new intelligent views and capabilities like PDF factsheets for equities and funds which were specifically designed based on customer feedback. This combination allows wealth managers to reduce their time to insight and spend more time providing value to their end clients.

“ Eikon for Wealth Management delivers everything finance professionals should come to expect from a company ! ” Peter Schramme : “ On a higher level, one can state that Eikon for Wealth Management brings indeed a contemporary user experience, but besides that also delivers on market drivers such as simple Drill Down to details, Time Efficiency : Productivity and ROI, Creativity and Flexibility. It is the combination of answers that we give to these expectations of the digital generation that makes us such a strong contender. ”

screening and navigation enabling you to reduce your time to insight and ; Personalisation - your own Home page and enhanced Flex Sheets allowing you to make your experience relevant to your workflow. Our test users told us that if we were able to meet these market drivers we would be at the start of a successful global journey ”

“ The great news is this is only the start & we are already evolving the product ! ” As the anytime, anywhere world of news and information increases, so do demands on wealth managers to have a broad perspective of the market so they can respond intelligently and quickly to clients. It is clear wealth managers require personalized, easy to use tools and timely, relevant content to compete in this new era. Eikon for Wealth Management was created specifically to enable wealth managers to leverage our technology to provide their clients with the best advice and service possible. That shows a lot of confidence in the product, how come ?

Mark Brusadelli : “ We really focused on client needs and key workflow. As well as previews with our largest customers we worked closely with the Business Execution team to engage with customers through an extensive Early Access and Beta program and they gave us open and honest feedback. As a result, we are pretty confident that we crafted something that resonates with the real day to day needs in the Wealth Management market of today. ” Peter Schramme : “ Indeed, the extensive Beta program reassured that launching Eikon for Wealth Management allows us to continue expanding globally with an innovative platform that enables Wealth Managers to build their business and enhance client service. EMEA and Asia offer terrific opportunities for growth and Wealth Managers in these regions are ready for a solution which offers the global content and workflow capabilities that only Thomson Reuters can provide. ” What is the go to market strategy ? Mark Brusadelli : “ We are working very closely with our Wealth Management Client Specialists (led by Isabelle Thomas in EMEA) and the front line to focus on new business opportunities across our target customer segments in the short term. Surprisingly we remain very underpenetrated so there is significant opportunity to grow. Later this year we will also start up campaigns to commence our RWM migrations. ”

Making the right investment decisions today and anticipating events that might impact your client portfolios tomorrow requires the right mix of content and capabilities. Thomson Reuters Eikon for Wealth Management is your go-to source for critical market monitoring content and analysis. It is tailored to your workflow and features smarter search and intelligent tools that provide instant access to indispensable, high value content. With a single glance at your personalized home page, you can stay one step ahead of the market. So when an unexpected event unfolds, a major merger takes place, or a company replaces its CEO, you can quickly assess your client portfolios and recommend the right moves. Thomson Reuters Eikon for Wealth Management enables you to navigate effortlessly from news to analysis to communication to action - whenever, wherever you do business.  INTELLIGENTLY DESIGNED FOR YOUR WORKFLOW  THE MOST COMPLETE VIEW  PERSONALIZED, SMARTER SEARCH  YOUR SOURCE FOR DEEPER MARKET INSIGHT  GET THE BROADEST VIEW OF THE MARKETS  LIPPER INVESTMENT FUND INTELLIGENCE  ANALYSE INVESTMENT PERFORMANCE  MOBILE SOLUTIONS

Learn more about Thomson Reuters Eikon for Wealth Management at our website : http://thomsonreuters.com/products_services/ financial/youreikon

How will Eikon for Wealth Management further evolve ? Peter Schramme : “ If there is one thing that I would like the people to remember from the launch of Eikon for Wealth Management that it is a “ platform ”, meaning that it allows us to further enrich the content, extend the vertical capabilities and further excel in user experience with regular updates made available to the users without any effort. It is the start of a long term journey and forms the center piece of the global Wealth Management strategy of Thomson Reuters. ” Mark Brusadelli : “ The great news is this is only the start and we are already evolving the product. Over the coming months we are planning a number of key content, functional and performance enhancements. Much of this will be focused on core market monitoring and investment selection workflow but we are starting to investigate how we can build additional tools to support the broader workflow of our end users. We will be adding support for mobile devices. This is a logical and also necessary next step in responding to our users’ experience in today’s anytime, anywhere world of news and information. By the end of the year our customers will be able to access key market data and news via their BlackBerry, iPad and iPhone.

Personalize your experience and organize the content that matters to you.

Mark Brusadelli : ” Eikon for Wealth Management is all about the capabilities of translating complex market data into simple, comprehensive and easy to find information for our customers, accessible anytime, anywhere. We wanted this mantra of simplification to be reflected in the value proposition we now promote to the market. That means : Go to source - access to detailed and relevant information from the most trusted financial information provider, Intuitive experience - smarter search, Tailor your home page for fast access to news, market data and more.

TRADITION CONTINUES ! THOMSON REUTERS CLIENT PARTY 2011 Remember our Client Party in 2009 @ Mirano ? Great atmosphere, ideal place to connect ! Book October 13 in your agenda and spread the word. Thomson Reuters Belgium invites you for a great party with food & drinks, networking & dancing ! Check out www.spirito-martini.com to see where we will be partying this year on October 13 !

Thomson Reuters (Markets) S.A., Belgium Branch Marnixlaan / Avenue Marnix 17 – 3rd floor · B - 1000 Brussels

Save the date CLIENT PARTY 13/10/2011