COMPANY OVERVIEWCOMPANY OVERVIEW

Tricumen Ltd is a financial services-orientated market intelligence company.

We provide research and analysis to investment banks, financial services consultancies and companies that market to investment banks. We offer actionable intelligence on performance, organisational structures, business models and working practices.

Our focus areas are:

• Banking: Advisory, financing, corporate banking;

• Capital markets: Sales, trading & research across equities, credit, rates, FX and commodities;

OVERVIEW

• Capital markets: Sales, trading & research across equities, credit, rates, FX and commodities;

• Principal Investments: Hedge funds, private equity, real estate, other alternatives;

• Treasury and Securities Services: Cash management, trade finance, custody, fund administration.

We aim to work on interesting and challenging assignments that deliver real benefits and insight. We like to build ‘partnership-like’ links with clients, based on openness and trust. We therefore limit the number of core clients that we work with; this also ensures confidentiality and the responsiveness and quality of our service.

The firm leverages its core staff by drawing on a network of research partners. Our staff are almost exclusively drawn from the industry and have unrivalled knowledge of financial products and the working of the markets.

Tricumen is based near Cambridge in the UK, and has research partners across the globe.

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Tricumen provides analysis of the top-tier investment and custodian banks covering:

• Numerical Data (+/-10% error margin):

Product and client revenues;

Operating Expenses;

RWA, VaR, Capital;

Headcount.

All financial data is normalised, and reconciled to published financial statements. Regional/country datasets can be provided where meaningful.

SERVICES

provided where meaningful.

• Organisational Data:

Management reporting lines (including support groups);

Legal entity structures;

Physical structures - regions, countries, cities, buildings.

• Qualitative Data:

Strategy/Focus;

Business model / working practices;

Technology;

Trend dynamics.

We supply all of the above is on an on-going or ad-hoc basis.

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For each engagement, we are able to quickly assemble a team whose expertise matches the exact needs of our client. Those working on the team are invariably senior, hands-on professionals. In addition, our core clients each have a dedicated Tricumen Partner, ensuring quality of service and client confidentiality.

Tricumen Group is run by the two Managing Partners:

Seb Walker is a graduate of Cambridge University. His early career was spent in the Civil Service with various roles in the Ministry of

APPROACH

JV Security Services (Guernsey based)

JV Alternatives (NYC based)

Research network

• Retired senior bankers

• Individuals who have banking experience (typically VP level)

Own research capability

Main Joint Ventures

was spent in the Civil Service with various roles in the Ministry of Defence and a posting as private secretary to the Cabinet Secretary. After deciding to move to the City, Seb joined J.P.Morgan in 2000, where he was COO to a number of business units, prior to becoming Head of Strategy for Europe, the Middle East and Africa. In 2005, Seb joined Coalition Development Limited where he was joint head of the Business Intelligence division with Darko Kapor. At the start of 2007, Seb left Coalition to form Tricumen Limited.

Darko Kapor received his MBA from City University Business School (now Cass) in 1996. He next covered the banking sector in the Equity Research departments of a number of City institutions; following banks in emerging markets, the UK, Switzerland and the USA. In 2002, Darko left BNP Paribas to join Coalition Development Limited where he co-ran the Business Intelligence division with Seb Walker. Darko joined Tricumen in 2009.

• Trusted research firms

JV Bank Technology (Lon based)Core Client 1

Clients

Ad Hoc Clients

Core Client 2

Core Client 3

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ANALYSIS

Our analysis is carried out by drawing together publically available data, data sourced from knowledgeable individuals in the market (including staff who have moves from one bank to another) and our own extensive database from past analysis.

Data is sourced without revealing the client’s name and under a strict code of ethics. We also ensure that all information is researched and cross referenced using multiple sources. Where this is not possible, we ensure that our clients are aware of the likely error margin in the final dataset provided.

Over the past years we have found that this approach allows us to provide clients with valuable and actionable intelligence, that enables them to make decisions about the market in question. It also brings the following intelligence, that enables them to make decisions about the market in question. It also brings the following benefits:

• Speed: As a company we focus on a small number of clients and build relationships based on trust. This allows us to deliver results quickly, and to customise our work to the needs of each client;

• Transparency: All analysis is on named competitors allowing clients to test the information against their own knowledge. This provides a much more vivid depiction of a market than data dependant solely on anonymised datasets or “top three averages”. Our approach also allows clients to see where the data is likely to be highly reliable, and where it is reliant on fewer sources;

• Insight: Staff carrying out the research have typically worked in a bank (normally at at least SVP level). As such they can ask highly relevant questions and “speak the language” of traders, salespeople and bankers. Their experience also means that our clients can deal direct with them safe in the knowledge they are speaking to an expert.

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Tricumen is based near Cambridge in the UK, at:

Neville HouseStation RoadWendens AmboCB11 4LB

To contact us:

CONTACT

To contact us:

General Enquiries: +44 (0)1223 902 993Email: admin@tricumen.com

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