The Way We Do Business

Our Commitment to Clients and Shareholders

We provide the opportunity for wealth creation for companies, furthering global capital formation and democratic ideals. In this role I believe it is incumbent on us to lead by example in the way we operate. Leading by example means:

• Operating with the highest ethical standards;

• Driving industry and regulatory change;

• Following industry-best governance and compliance protocols;

• Demonstrating clear accountability to clients and shareholders;

• Adhering to our Principles;

• Embracing diversity and respecting all cultures;

• Acknowledging and addressing problems promptly; and

• Meeting client needs intelligently, creatively and objectively with unparalleled products and services.

It’s all about trust — the backbone of relationships. Trust is the basis for investing, for commerce and for growth.

Building trust and enhancing our reputation depend on the decisions we make — individually and collectively — the way we behave, the way we work together. We must have a partnership mindset, an enterprise- wide view that puts the entire firm’s interests above any individual’s short-term objectives.