Pierre Lenders

Portfolio Manager & Head of Sustainable Investments Key missions: 75% of energy: reporting directly to CFM President and CFM CIO, I lead a sub-team of 4, within the quant research team, in charge of feeding all equity long short programs within CFM’s systematic investment process with positive alpha sustainability related predictors obtained from combining ESG and non-ESG data. This included scrutinizing for alpha signal huge datasets from dozens of ESG rating providers including but not limited to MSCI, Trucost, Sustainalytics, Equileap, Iceberg DataLab, Nature Alpha, Impact Cubed, Carbon4Finance, RepRisk, TrueValue Lab, and many more to also look at non ESG sector specialists such as Rystad Energy or Bloomberg or other sources of data allowing to model supply chains and networks, and using LLMs to query vast amounts of unstructured data, for instance to monitor changing dynamics in governmental ambitions relating to the energy transition and/or the adaptation to existing and upcoming environmental challenges.25% of energy: leading all ManCo Sustainability related initiatives such as investing in nature based solutions (Forests & Renewable Energy) or fulfilling UNPRI and other regulatory reports. I participated in various client-facing events and due diligence processes. I was panelist on a number of conferences and I played a very active role in various trade industry forum (SBAI, AIMA, Climate Action 100+,…) in particular to defend a commonsensical approach to how to include derivatives, leverage, shorts and commodities (oil, gas, grain, metals) into carbon accounting. I managed to convince my peers to build a deeper understanding of the actual transmission mechanisms from the investors' decisions to real world impact in order to survive the ESG backlash. A far too naïve, ultimately counter productive discourse underpinned the ESG movement during the 2015-2021 era which was "you'll do well by doing good". False, its much more complicated and it becomes crucial to be realistic about what sould be achieved, and how.

TerreNeuve Capital manages a global long short equity strategy whose key highlights are: – Specialist in sectors (consumers, chemical, med tech) where sustainability increasingly matters, – Low name rotation driven by deep dive 360° long term focused fundamental analysis, – Company valuation encompassing intangible environmental, social and/or governance factors, – Higher dollar rotation to comply with a market neutral format and to take advantage of catalysts, – Continuity of team and investment process around Arnaud Langlois (BH, UBS O'Connor, MLP), – Longstanding relationship with management teams and sector expertise allow our investment team maintain a high quality dialog with companies in our universe. Long term risks and opportunities can then be identified by measuring the adequacy of governance and strategic thinking to the long term

– Prius Partners is an Investment Advisory firm with a return from impact investing mind-set. Its proprietary fund analysis technology FLAME ® ascertains the value managers add from an ESG perspective. – Working with asset owners and fund selectors eager to insure the returns they are getting are aligned with their long term concerns, Prius goes beyond what managers say they do. – Instead, for any investment process in listed securities space, Prius FLAME ® scrutinizes past position data and measures how, when and where fundamental factors, including any particular ESG factor, are statistically likely to have contributed to any observed financial alpha. – Prius clients can address their entire liquid allocations in one go, not just the small bucket reserved to thematic or ethical investments. This is because FLAME ® applies to all products, whether actively or passively managed, whether long only or long short and whether or not an explicit intention is stated to integrate ESG, – Beyond using ESG ratings with a "compliance" mind-set, Prius approach aims at maximizing actual impact, favouring behavioural transformations which can simultaneously bring about societal and financial rewards. – A set of proprietary tools assessing how efficiently ESG risks and opportunities have been tackled are available from the website, including multi-criteria comparison screens, Such screens are configurable to any asset owner specific preferences and investment beliefs, The respective strengths and weaknesses of any fund within its peer group are highlighted in a few clicks, together with the specific securities on which to engage and focus the discussion.

– Top-down managed 2bio FoHFs, gave the macro pulse, met & vet all underlying funds & candidates. – Interacted with institutional investors through conferences, events, one on ones, monthly letters. – Redesigned front to mid portfolio management and trade worflow technology on a web based system. – Put sustainability firmly on the agenda. – Transitioned HDF into Rothschild et Cie.

– Market Risk Mgt : create a robust front end system with the relevant risks screens and a trade workflow respectful of each underlying fund contractual terms, from scratch, to efficiently monitor portfolio factor risks and liquidity profile. – Co-CIO role: provide the macro pulse, meet and vet all potentially interesting managers, write newsletters and position portfolios top down accordingly

– MUREX is a very unique technology provider, It was already striving in the late 80ies early 90ies, when I used it myself as a derivative trader on bond options and equity options. – Whereas almost all its competitors died when the internet and e-commerce revolution hit, it managed to completely re-invent itself to become the world class leader it is today. – I was there right at that time of complete redesign of the technical architecture (java version). – Beyond just servicing investment banks, I took the initiative to push this top-notch front, middle and back office technology also towards the largest Buy-side firms, and managed to land deals with some of the most prestigious hedge funds. – Sales were on all front: Equity and Equity derivatives, Fixed Income and Credit, Commodities, FX, – Organic growth was constant throughout (+30% per year)

– Lead a highly innovative securitization deal, landed in 1998 after 18 months effort (Paris Club related) – Fl cash and vanilla and exotic derivatives - Head of Europe Gvt Bond and Swaps trading 95 – Lead the development of an entirely new front office system for Fixed Income (Concorde) used across Europe – Senior risk taker within the IRM team 93-97 (equivalent to internal global macro hedge fund) – Local head of trading floors Madrid and Paris – Lead Paris based primary dealership team and Introduced OAT strip in 1991 – Fixed income arbitrage in 87-89

– Equity option market maker on French Monep, then structurer in London within BT international. – Dates are confusing? I left JP Morgan in 89 but came back in 91