Tricumen offers market intelligence and competitor benchmarking services for financial institutions. They provide customized data and analysis on over 50 competitors across various products and geographies. Their offerings include quarterly datasets with financial metrics and qualitative information on competitors, allowing clients to benchmark their performance against peers.

1. MARKET INTELLIGENCE OFFERINGMARKET INTELLIGENCE OFFERING
 Competitor benchmarking
 Client market sizing

2. Competitor benchmarking
 Peer groups and product definitions customised to the client’s ‘view of the world’, allowing smooth integration of
the client’s own dataset without Tricumen input.
 All data is available on annual / semi-annual / quarterly basis.
 The full dataset is provided on quarterly basis, within 2 weeks of the last bank in the peer group reporting.
 All financial data is fully reconciled against banks’ public reporting.
 Qualitative information: organisational charts, description of strategy.
Example of an output customised to a client’s areas of interestCompetitor Benchmarking: Traditional vs Tricumen
BAML BARC
Capital Markets xxx xxx
Citi
xxx
DBK
xxx
JPM MS RBS SG
xxx xxx xxx xxx
Banking/Primary xxx xxx xxx xxx xxx xxx xxx xxx
DCM Bonds xxx xxx xxx xxx xxx xxx xxx xxx
DCM Loans xxx xxx xxx xxx xxx xxx xxx xxx
ECM xxx xxx xxx xxx xxx xxx xxx xxx
M&A / Advisory xxx xxx xxx xxx xxx xxx xxx xxx
FICC xxx xxx xxx xxx xxx xxx xxx xxx
FX xxx xxx xxx xxx xxx xxx xxx xxx
FX Spot & Fwds xxx xxx xxx xxx xxx xxx xxx xxx
FX Options & Exotics xxx xxx xxx xxx xxx xxx xxx xxx
FX: Corp/Trans Bank xxx xxx xxx xxx xxx xxx xxx xxx
Rates xxx xxx xxx xxx xxx xxx xxx xxx
Rates: Flow xxx xxx xxx xxx xxx xxx xxx xxx
Rates: Structured xxx xxx xxx xxx xxx xxx xxx xxx
Rates: Corp/Trans Bank xxx xxx xxx xxx xxx xxx xxx xxx
Credit xxx xxx xxx xxx xxx xxx xxx xxx
Credit: Flow xxx xxx xxx xxx xxx xxx xxx xxx
Credit: Structured xxx xxx xxx xxx xxx xxx xxx xxx
Credit: Distressed & Other xxx xxx xxx xxx xxx xxx xxx xxx
Securitisation xxx xxx xxx xxx xxx xxx xxx xxx
Commodities xxx xxx xxx xxx xxx xxx xxx xxx
Equities xxx xxx xxx xxx xxx xxx xxx xxx
Cash xxx xxx xxx xxx xxx xxx xxx xxx
Derivatives & Converts xxx xxx xxx xxx xxx xxx xxx xxx
Prime Services xxx xxx xxx xxx xxx xxx xxx xxx
Securities Services xxx xxx xxx xxx
Custody xxx xxx xxx xxx
Fund Admin xxx xxx xxx xxx
Sec Lending/Clearing xxx xxx xxx xxx
-1.0
-0.5
0.0
0.5
1.0
1.5
2.0
Op't revenue growth
Op't revenue / FO
headcount
Op't cost growth
Op't cost / FO headcount
Op't cost / income
Pre-tax profit growthRevenue / VaR
Revenue / Stressed VaR
Revenue / RWA
Revenue / Allocated Equity
Leverage ratio
Bank A peer group
TRADITIONAL:
Revenue & Headcount
TRICUMEN:
Revenue, Profit,
Headcount
TRICUMEN:
VaR & SVaR returns
TRICUMEN:
RWA & Equity returns
and Leverage ratio
BAML BARC
Capital Markets xxx xxx
Citi
xxx
DBK
xxx
JPM MS RBS SG
xxx xxx xxx xxx
Banking/Primary xxx xxx xxx xxx xxx xxx xxx xxx
DCM Bonds xxx xxx xxx xxx xxx xxx xxx xxx
DCM Loans xxx xxx xxx xxx xxx xxx xxx xxx
ECM xxx xxx xxx xxx xxx xxx xxx xxx
M&A / Advisory xxx xxx xxx xxx xxx xxx xxx xxx
FICC xxx xxx xxx xxx xxx xxx xxx xxx
FX xxx xxx xxx xxx xxx xxx xxx xxx
FX Spot & Fwds xxx xxx xxx xxx xxx xxx xxx xxx
FX Options & Exotics xxx xxx xxx xxx xxx xxx xxx xxx
FX: Corp/Trans Bank xxx xxx xxx xxx xxx xxx xxx xxx
Rates xxx xxx xxx xxx xxx xxx xxx xxx
Rates: Flow xxx xxx xxx xxx xxx xxx xxx xxx
Rates: Structured xxx xxx xxx xxx xxx xxx xxx xxx
Rates: Corp/Trans Bank xxx xxx xxx xxx xxx xxx xxx xxx
Credit xxx xxx xxx xxx xxx xxx xxx xxx
Credit: Flow xxx xxx xxx xxx xxx xxx xxx xxx
Credit: Structured xxx xxx xxx xxx xxx xxx xxx xxx
Credit: Distressed & Other xxx xxx xxx xxx xxx xxx xxx xxx
Securitisation xxx xxx xxx xxx xxx xxx xxx xxx
Commodities xxx xxx xxx xxx xxx xxx xxx xxx
Equities xxx xxx xxx xxx xxx xxx xxx xxx
Cash xxx xxx xxx xxx xxx xxx xxx xxx
Derivatives & Converts xxx xxx xxx xxx xxx xxx xxx xxx
Prime Services xxx xxx xxx xxx xxx xxx xxx xxx
Securities Services xxx xxx xxx xxx
Custody xxx xxx xxx xxx
Fund Admin xxx xxx xxx xxx
Sec Lending/Clearing xxx xxx xxx xxx
1
-1.0
-0.5
0.0
0.5
1.0
1.5
2.0
Op't revenue growth
Op't revenue / FO
headcount
Op't cost growth
Op't cost / FO headcount
Op't cost / income
Pre-tax profit growthRevenue / VaR
Revenue / Stressed VaR
Revenue / RWA
Revenue / Allocated Equity
Leverage ratio
Bank A peer group
TRADITIONAL:
Revenue & Headcount
TRICUMEN:
Revenue, Profit,
Headcount
TRICUMEN:
VaR & SVaR returns
TRICUMEN:
RWA & Equity returns
and Leverage ratio

3. Competitor benchmarking
Investment banks
1. Barclays
2. Credit Suisse
3. Goldman Sachs
4. Morgan Stanley
5. UBS
Universal banks
6. Bank of America Merrill Lynch
7. BNP Paribas
8. Citigroup
9. Deutsche Bank
10. HSBC
11. J.P.Morgan
12. Societe Generale
13. Standard Chartered
14. Royal Bank of Scotland
15. Wells Fargo
Custodian banks
16. Bank of New York Mellon
17. Northern Trust
18. State Street
Geographies
 EMEA
 Western Europe
 CEE/CIS
 Middle East
 Africa
 Americas
 North America
 Latin America
 APAC
 Japan
 Australia / New Zealand
 Other APAC
Other country detail available
Frequency
 Annual
 Semi-annual
 Quarterly
Revenue
 Client Revenue (4 groups)
 Risk Revenue
 Collaboration revenues
Headcount
 Coverage
 Origination/Syndicate
 Trading/Structuring
 Sales/Marketing
 Product Management
FTE basis, adjusted for seniority
Operating Expenses
 FO Comp & Benefits
 FO Directs
 Tech & Ops
 Other support
 Corporate overhead
Market risk
 VaR
 Stressed VaR
RWA (Basel 2.5 and 3)
 Market Risk
 Counterparty Credit Risk
 Credit Risk
 Equity Risk
 Operational Risk
Equity/Capital
Leverage ratio
Client Assets
 Assets under Management
 Assets under Custody
 Assets under Administration
 Deposits
Data Scope Scope Competitors
Canadian banks
19. BMO
20. CIBC
21. RBC
22. Scotiabank
23. TD Bank
European banks
24. Commerzbank
25. Credit Agricole
26. Lloyds Banking Group
27. Santander
28. Unicredit
Asia/Pacific banks
29. ANZ Banking Group
30. Macquarie
31. National Australia Bank
32. Westpac
33. Daiwa Securities Group
34. Nomura
35. Mizuho Financial Group
36. SMBC
37. DBS
38. OCBC
39. UOB
40. CIMB
41. Maybank
US banks
42. Jefferies
43. Knight Capital
44. PNC
45. Fifth Third
46. BB&T Corp
47. Key Bank
48. Sun Trust
49. Citizens
50. Regions
51. US Bancorp
Asset Managers
52. Allianz
53. Axa
54. Blackrock
Interdealer brokers
55. BGC Partners
56. GFI (acquired by
BGC in Feb-15)
57. ICAP
58. Tradition
59. Tuller Prebon
Investment banks
1. Barclays
2. Credit Suisse
3. Goldman Sachs
4. Morgan Stanley
5. UBS
Universal banks
6. Bank of America Merrill Lynch
7. BNP Paribas
8. Citigroup
9. Deutsche Bank
10. HSBC
11. J.P.Morgan
12. Societe Generale
13. Standard Chartered
14. Royal Bank of Scotland
15. Wells Fargo
Custodian banks
16. Bank of New York Mellon
17. Northern Trust
18. State Street
2
Geographies
 EMEA
 Western Europe
 CEE/CIS
 Middle East
 Africa
 Americas
 North America
 Latin America
 APAC
 Japan
 Australia / New Zealand
 Other APAC
Other country detail available
Frequency
 Annual
 Semi-annual
 Quarterly
Revenue
 Client Revenue (4 groups)
 Risk Revenue
 Collaboration revenues
Headcount
 Coverage
 Origination/Syndicate
 Trading/Structuring
 Sales/Marketing
 Product Management
FTE basis, adjusted for seniority
Operating Expenses
 FO Comp & Benefits
 FO Directs
 Tech & Ops
 Other support
 Corporate overhead
Market risk
 VaR
 Stressed VaR
RWA (Basel 2.5 and 3)
 Market Risk
 Counterparty Credit Risk
 Credit Risk
 Equity Risk
 Operational Risk
Equity/Capital
Leverage ratio
Client Assets
 Assets under Management
 Assets under Custody
 Assets under Administration
 Deposits
Canadian banks
19. BMO
20. CIBC
21. RBC
22. Scotiabank
23. TD Bank
European banks
24. Commerzbank
25. Credit Agricole
26. Lloyds Banking Group
27. Santander
28. Unicredit
Asia/Pacific banks
29. ANZ Banking Group
30. Macquarie
31. National Australia Bank
32. Westpac
33. Daiwa Securities Group
34. Nomura
35. Mizuho Financial Group
36. SMBC
37. DBS
38. OCBC
39. UOB
40. CIMB
41. Maybank
US banks
42. Jefferies
43. Knight Capital
44. PNC
45. Fifth Third
46. BB&T Corp
47. Key Bank
48. Sun Trust
49. Citizens
50. Regions
51. US Bancorp
Asset Managers
52. Allianz
53. Axa
54. Blackrock
Interdealer brokers
55. BGC Partners
56. GFI (acquired by
BGC in Feb-15)
57. ICAP
58. Tradition
59. Tuller Prebon

4. Competitor benchmarking (cont.)
Products
Fixed Income
 FX
 FX Spot/Forwards
o G10 FX
o Emerging FX
 FX Options/Exotics
 Rates
 Flow Rates
o STIR MM
o Govts/Agency
o Flow Derivatives
o Local Markets
o Munis
 Structured Rates
 Credit
 Flow Credit
o High Grade
o High Yield
o Emerging Markets
 Structured Credit
 Distressed & Loan Trading
o Loan Trading
o Distressed Debt
 Commodities
 Energy
 Base Metals & Softs
 Precious Metals
 Securitisation
 ABS
 Agencies/RMBS
 CMBS
Commercial Banking
 Commercial Lending
 Large Cap / MNC
 SME / Mid-Cap
 Commercial Real Estate Lending
 Asset Based Lending
 Project & Structured Finance
 Deposits
 Corp/trans bank FX
 Corp/trans bank Rates
Wealth Management
 Advisory
 Lending
 Investment Management
 Brokerage
Asset Management
 Institutional
 Retail
 Liquidity
 Fixed Income
 Equities
 Alternatives
Principal Investments
 Private Equity
 Real Estate
 Life Finance
Equities
 Cash Equities
 High Touch
 Electronic
 Equity Derivatives
 Flow Equity Derivatives
o Swaps & Options
o Delta 1
 Structured Equity
Derivatives
 Prime Services
 Prime Brokerage
 Securities Lending
 Prop Trading
Securities Services
 Custody
 Domestic Custody
 Cross Boarder Custody
 Fund Admin
 Clearing
 Agency Securities Lending
 Trustee Services
Investment Banking
 M&A
 ECM
 Cash ECM
 Converts
 DCM Bonds
 High Grade
 High Yield
 Munis
 Emerging Markets
 Syndicated Loans
 High Grade
 Leveraged Loans
 Corporate Derivatives
Treasury Services
 Cash Management
 Domestic
 International Corporate
 International FIG
 Cards/Merchant Services
 Large Cap/MNC
 SME/Mid Cap
 Trade Finance
 Traditional Trade Finance
 Supply Chain Finance
 Structured & Commodity
Trade Finance
 Large Cap/MNC
 SME/Mid Cap
3
Fixed Income
 FX
 FX Spot/Forwards
o G10 FX
o Emerging FX
 FX Options/Exotics
 Rates
 Flow Rates
o STIR MM
o Govts/Agency
o Flow Derivatives
o Local Markets
o Munis
 Structured Rates
 Credit
 Flow Credit
o High Grade
o High Yield
o Emerging Markets
 Structured Credit
 Distressed & Loan Trading
o Loan Trading
o Distressed Debt
 Commodities
 Energy
 Base Metals & Softs
 Precious Metals
 Securitisation
 ABS
 Agencies/RMBS
 CMBS
Commercial Banking
 Commercial Lending
 Large Cap / MNC
 SME / Mid-Cap
 Commercial Real Estate Lending
 Asset Based Lending
 Project & Structured Finance
 Deposits
 Corp/trans bank FX
 Corp/trans bank Rates
Wealth Management
 Advisory
 Lending
 Investment Management
 Brokerage
Asset Management
 Institutional
 Retail
 Liquidity
 Fixed Income
 Equities
 Alternatives
Principal Investments
 Private Equity
 Real Estate
 Life Finance
Equities
 Cash Equities
 High Touch
 Electronic
 Equity Derivatives
 Flow Equity Derivatives
o Swaps & Options
o Delta 1
 Structured Equity
Derivatives
 Prime Services
 Prime Brokerage
 Securities Lending
 Prop Trading
Securities Services
 Custody
 Domestic Custody
 Cross Boarder Custody
 Fund Admin
 Clearing
 Agency Securities Lending
 Trustee Services
Investment Banking
 M&A
 ECM
 Cash ECM
 Converts
 DCM Bonds
 High Grade
 High Yield
 Munis
 Emerging Markets
 Syndicated Loans
 High Grade
 Leveraged Loans
 Corporate Derivatives
Treasury Services
 Cash Management
 Domestic
 International Corporate
 International FIG
 Cards/Merchant Services
 Large Cap/MNC
 SME/Mid Cap
 Trade Finance
 Traditional Trade Finance
 Supply Chain Finance
 Structured & Commodity
Trade Finance
 Large Cap/MNC
 SME/Mid Cap

5. Client market sizing
 Tricumen’s market sizing analysis is based on actual client revenues at top-tier banks for each market segment, and detailed analysis of
clients’ buying patterns
 The analysis is based on the location of client buying points and takes into account cross-regional flows;
 The analysis covers 25 countries/regions and 9 client industry segments;
 Client revenue models are customised to match client’s own definitions.
Illustrative example of Equity Derivatives Asia ex-Japan client market sizing
Detailed quarterly
coverage of Top 13
investment banks
Annual coverage of
17 additional
financial institutions
Three pronged approach to market sizing
Corp & Sov
Market
Size
Bank
client
revenues
Client
segment
attributes
Volumes
and
margins
4
Tricumen correlates
data against client:
AUM, turnover,
holdings/balance
sheet, ALM activity
Detailed quarterly
coverage of Top 13
investment banks
Annual coverage of
17 additional
financial institutions
Tricumen tracks 38
benchmark products,
providing a product-level
view of trends and market
size
Corp & Sov
Retail/HNWI
Hedge Funds
Asset Managers
Insurers
Banks/Brokers
Australia Hong Kong Singapore South Korea Taiwan India

6. Client market sizing: options
 EMEA
 Western Europe
o UK/Ireland
o Nordics
o France
o Benelux
o Italy
o Iberia
o Austria/Germany
 CEEMEA
o Russia/CIS
o Eastern Europe
o Middle East
o Africa
 Corporates
 Large Cap/Multinational
 Mid Cap
 Middle Market
 Banks & Insurers
 Banks and Brokers
 Insurers
 Institutional Investors
 Asset Managers
 Hedge Funds/Alternatives
 Retail/HNWI Distribution
 Sovereign/Agency
 Americas
 North America
o United States
o Canada
 Latin America
o Mexico
o Brazil
o Argentina
o Chile
o Other Latin America
Client Segments Countries / Regions*
 APAC
 APAC G2
o Japan
o Australia
 APAC ex-G2
o Hong Kong/Mainland China
o Taiwan
o South Korea
o Singapore
o Other South East Asia
o India
 EMEA
 Western Europe
o UK/Ireland
o Nordics
o France
o Benelux
o Italy
o Iberia
o Austria/Germany
 CEEMEA
o Russia/CIS
o Eastern Europe
o Middle East
o Africa
5
 Corporates
 Large Cap/Multinational
 Mid Cap
 Middle Market
 Banks & Insurers
 Banks and Brokers
 Insurers
 Institutional Investors
 Asset Managers
 Hedge Funds/Alternatives
 Retail/HNWI Distribution
 Sovereign/Agency
 Americas
 North America
o United States
o Canada
 Latin America
o Mexico
o Brazil
o Argentina
o Chile
o Other Latin America
*Not all client segments and countries are relevant/available for all products
 APAC
 APAC G2
o Japan
o Australia
 APAC ex-G2
o Hong Kong/Mainland China
o Taiwan
o South Korea
o Singapore
o Other South East Asia
o India

7. Notes & Caveats
About Tricumen
 Tricumen was founded in 2008. It quickly became a strong provider of diversified market intelligence across the capital markets and has
since expanded into transaction and corporate banking coverage. Tricumen’s data has been used by many of the world’s leading
investment banks as well as strategy consulting firms, investment managers and ‘blue chip’ corporations.
 Situated near Cambridge in the UK, Tricumen is almost exclusively staffed with senior individuals with an extensive track record of either
working for or analysing banks; and boasts what we believe is the largest capital markets-focused research network of its peer group.
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