Hermes Investment Management and Federated Investors rebranded as Federated Hermes in February 2020. This was a natural step in the development of Federated Investors and Hermes Investment Management. Since Federated became the majority owner of Hermes in 2018, we have been united by a shared commitment to client-centric responsible investment and long-term business growth. In 2019, which represents the majority of the information reported herein, Federated Investors and Hermes Investment Management conducted business under their legacy names of Federated Investors and Hermes Investment Management. All activities previously carried out by Hermes Investment Management now form the international business of Federated Hermes, and are referred to as such throughout this report.