Managing Director of Edmond de Rothschild (Monaco), Hervé Ordioni has just been appointed President of the Monaco Financial Sector Promotion Commission within AMAF (Monegasque Association of Financial Activities). Meet him.
What is your background?
Much of my career has been with the Edmond de Rothschild group. I came to Monaco in 1995, and a year later joined the Management Committee of Edmond de Rothschild (Monaco), where I was in charge of development. In 2005, we established the first Edmond de Rothschild Assurances et Conseils (Monaco) affiliate, which offers wealth management solutions in keeping with our customers’ legal and tax context. In 2008, we set up Edmond de Rothschild Gestion (Monaco), a company responsible for managing mutual funds. I was appointed Deputy Managing Director of Edmond de Rothschild (Monaco) in 2009, and then Managing Director and Director in 2013, with the objective of developing our two strengths – private banking and wealth planning.
The governance of the Edmond de Rothschild Group has evolved…
In keeping with the family governance that distinguishes us from traditional banks, in February Benjamin de Rothschild, President of our Group, indeed asked his wife to head the executive committee. This is a strong sign of the Rothschild family’s involvement in the development of its banking activities. Three years ago, the Group began its change of model within the international regulation transformation context. We are part of the continuity of those changes that we pre-empted with responsiveness. More than ever, our strength lies in the synergies and expertise of our profession to preserve our customers’ wealth and make it grow.
You know Monaco well, what do you think of its financial centre?
I note that it has experienced considerable growth – and continues to do so – as the result of government policy and the Sovereign Prince’s commitment, which have succeeded in attracting wealthy residents. All the financial sector players have worked hard to improve the level of service and to strive for excellence. On the other hand, abroad only a small number of people have a real idea of the size, means of organization and regulation of the centre’s players in the Principality.
Hence the usefulness of the Financial Sector Promotion Commission?
Yes, of course. Professional certification, for example, is an excellent way to improve the centre’s image internationally. Our objective must be to attract the sum and substance of Monaco residents’ assets. That is not yet the case, but it can become so by enhancing our professionalism and rigour.
I wish to pay tribute to my predecessor, Bernard Rousselot, who was able to integrate digital strategy into the centre’s promotion. We can only applaud the success of the Monaco For Finance website and its every-growing connections; it is the responsibility of the players, myself included, to provide regular information to enrich the website. All AMAF members are aware that we need to work collectively towards the transparency of the centre, its efficiency, rigour and cohesion, while preserving those values that are dear to it.
Confident about the future?
I’m very confident about the centre’s future. Among Europe’s financial centres, Monaco is undoubtedly the one exhibiting the most significant growth. Because, in addition to its growing expertise, Monaco really is a place of residence where life is good.
