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    Rich Repetto

    Research Analyst at Sandler O'Neill

    Rich Repetto's questions to AMTD IDEA (AMTD) leadership

    Rich Repetto's questions to AMTD IDEA (AMTD) leadership • Q4 2019

    Question

    Rich Repetto from Sandler O'Neill asked for a prioritization of the company's growth initiatives and an update on its perspective on industry consolidation following the move to zero commissions.

    Answer

    President & CEO Tim Hockey explained the process of re-prioritizing initiatives post-commission cuts but declined to provide specific revenue forecasts. CFO Steve Boyle highlighted fully paved lending, Asia, and institutional services as key growth areas. Regarding M&A, Tim Hockey stated that while scale is important and the Scottrade deal was prudent, the company will evaluate any deal that makes financial and strategic sense and is comfortable with its current scale.

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    Rich Repetto's questions to AMTD IDEA (AMTD) leadership • Q1 2019

    Question

    Rich Repetto asked for insight into December's trading activity, specifically why DARTs growth was between competitors, and requested an update on the progress of Scottrade revenue synergies.

    Answer

    CFO Steve Boyle attributed the DARTs performance to market dynamics like increased tax-loss harvesting and a client shift towards futures over options. President and CEO Tim Hockey confirmed they remain ahead of schedule on Scottrade revenue synergies, tracking between year two and year three targets, with client engagement metrics like education usage up 60%.

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