美股投资策略2022全球金融服务会议要点

3 June 2022Deutsche BankResearch North America United States Financial Brokers, Asset Managers & Exchanges Industry Brokers, Asset Managers & Exchanges Date Industry Update Key Takeaways from DB 2022 Global Financial Services ConferenceStrong participation from exchanges & asset managers in particularAt the 12th annual Deutsche Bank Global Financial Services Conference, we hosted 15 companies across our broker, asset manager and exchange stock coverage, with particularly strong participation from the exchange space (7 of our covered companies, including 2 electronic fixed income platforms), as well as 7 asset managers (4 traditional managers & 3 alternative managers).Presentations in our coverage included a keynote conversation between BlackRock (BLK) Managing Director & Head of International & Corporate Strategy Mark Wiedman, moderated by Deutsche Bank's Fabrizio Campelli, Member of the Management Board, Head of Corporate Bank & Investment Bank.We also hosted presentations and fireside chats with:-Carlyle Group (CG) CFO Curt Buser-Invesco (IVZ) CFO Allison Dukes-Cboe Global Markets (CBOE) EVP, CFO, & Treasurer Brian Schell-Intercontinental Exchange (ICE) CFO Warren Gardiner & Lynn Martin, NYSE President & Chair of Fixed Income & Data Services-MarketAxess Holdings, Inc (MKTX) President & COO Christopher Concannon and CFO Christopher Gerosa-Nasdaq (NDAQ) EVP & CFO Ann Dennison-TMX Group Ltd (X) CFO David ArnoldCompanies that conducted investor meetings only were Apollo Global Management (APO), Blackstone (BX), CME Group Inc (CME), Federated Hermes (FHI), Robinhood Markets (Hood), Tradeweb Markets (TW), & WisdomTree (WETF).Key takeaway: Growth drivers to be positive stock catalysts this yearAcross our coverage of brokers, asset managers and exchanges, we found the Brian Bedell, CFAResearch Analyst+1-212-250-6600Sam Desai, CFAResearch Associate+1-212-250-9761Frank WilliamsResearch Associate+1-212-250-9913Deutsche Bank Securities Inc.Deutsche Bank does and seeks to do business with companies covered in its research reports. Thus, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. DISCLOSURES AND ANALYST CERTIFICATIONS ARE LOCATED IN APPENDIX 1. MCI (P) 051/04/2022. Distributed on: 03/06/2022 08:31:07 GMT7T2se3r0Ot6kwoPa3 June 2022Brokers, Asset Managers & ExchangesBrokers, Asset Managers & ExchangesPage 2Deutsche Bank Securities Inc.following themes as particularly interesting & likely to create a positive catalyst bias for most participating companies in our coverage this year, as well as foundations for longer-term revenue and earnings growth. These include the following:1) Investor sentiment tilted negatively: Our overall take from "buzz in the hallways" in conversations with investors at the conference was that investors are more heavily scrutinizing company fu