Dear clients,

As previously communicated, in response to the global disruption caused by the Coronavirus, we first prioritized enhancing the resilience and flexibility of our operations to allow us to work remotely. We are pleased to say that this set-up has proved very effective. The vast majority of our staff have been working from home since early March and we have been able to provide a full range of services throughout the lockdown so far. This is a sustainable solution, for as long as it's needed.

However, with the lockdown measures starting to loosen in many of the regions where we operate, we are now implementing a number of changes in our workplaces to ensure it is safe for staff to return. Over the coming weeks, we will progressively increase the number of people working inside our offices, where local regulations and guidelines allow. Our staff will continue to have the flexibility they need in their working arrangements during this time.

The health and safety of our people, clients and stakeholders remains our number one priority. We will carefully monitor this gradual return to work and continue to adapt our policies and procedures where necessary so that we are operating in line with best practices.

While the transition from office to home working was quite sudden, the journey back to normality is likely to consist of a number of smaller steps over a longer period of time. The Coronavirus situation remains a challenge to our normal way of life, unlike anything seen in most of our lifetimes. Our staff and systems adapted swiftly and efficiently to the initial shock and we therefore remain very confident in our ability to serve our clients effectively as the situation continues to evolve.

We know that you face many challenges of your own in adapting to this crisis. We will continue to work tirelessly to support you.


Kind Regards,


Exane Group Management


1- What impact will this have to your organisation's product / service delivery capability to your clients and that of your vendors who support this capability?

The vast majority of our staff have been working from home since Monday March 16, with a fully operational IT, communications and management set up.

With the action we have taken we have been able to work efficiently and provide our full range of client services for the past two months. Our set-up is of course compliant with the relevant regulatory requirements.


2- If your organization is making use of a "work from home" strategy, how long can this be sustained?

The vast majority of our staff have been working from home for the past two months. This is a sustainable solution for the long term.

We are currently implementing a plan to increase the number of staff who can safely work from inside our offices. This will allow us to progressively increase the number of staff on site from the end of May, while meeting or exceeding all local health guidelines and regulations.

In the coming months, our teams will have the ability to work from the office and from home, with a good level of flexibility.

3- If there is a possible material impact to product / service delivery, what plans are you taking / planning to take to mitigate / prepare? How far advanced are these plans?

Not applicable. The current situation has no impact on our ability to provide a full range of client services and our remote set-up is sustainable for the long-term. We are nevertheless implementing a plan which allows our staff to progressively return to the office in a safe and flexible way.

4- How is your organization monitoring developments and managing your response?

We have implemented our business recovery plan and since the beginning of the crisis we have put in place a number of new governance structures including:
· A Group Crisis Management Committee whose members are representatives from each of our business lines plus IT, Business Continuity and HR/Communication teams
· Operational Committees for each business line

These Committees meet regularly and monitor all activities and decisions regarding the Covid-19 crisis management.