CFM INDOSUEZ Wealth Management - 2019 annual report

1. 4 s c o p e o f c o n s o l i d at i o n The consolidated financial statements of CFM Indosuez Wealth Group include: % control % interest Company Location Registered office 31/12/2019 31/12/2018 31/12/2019 31/12/2018 CFM Indosuez Wealth SAM Monaco 11, bld Albert 1 er - Monaco Parent company Parent company CFM Indosuez Conseil en Investissement SASU France 1, Place de la liberté - 06320 CAP D'AIL 100% 100% 100% 100% CFM Indosuez Gestion SAM Monaco 11, bld Albert 1 er - Monaco 100% 100% 99,3% 100% In accordance with international accounting standards, all the entities listed above are under the exclusive control of CFM Indosuez Wealth and are therefore fully consolidated. The accounts of all consolidated companies are kept in euros, with the exception of the New Caledonian branch, whose accounts are kept in XPF and translated into euros at the balance sheet date. N o t e 2 : Main organisational changes and significant events of the period Restructuring of the real estate portfolio To adjust and reorganise its real estate portfolio, CFM Indosuez purchased an office building it had occupied for nearly 20 years, for its own use. At the same time, it sold two less strategic properties. N o t e 3 : Financial management, risk exposure and hedging policy CFM Indosuez Wealth’s Finance department is responsible for organising financial flows within CFM Indosuez Wealth Group, defining and implementing refinancing rules, asset and liability management and the management of prudential ratios. It defines the principles and ensures the consistency of the Group’s financial management. Banking risks are managed within the Group by the Risk and Permanent Control department and the Finance department. These departments report to CFM Indosuez Wealth’s Executive Management and are respectively responsible for the control and permanent monitoring of credit and operational risks (Risk and Permanent Control) and the control and permanent monitoring of financial and liquidity risks (Finance). 71 Annual Financial Statements 2019