Barclays Bank is celebrating its 100th anniversary in the Principality this year! This is a source of pride for its CEO Gérald Mathieu, who runs a pioneering bank, the first to be established in Monaco.
100 years of Barclays, a source of pride?
Certainly, not only was Barclays the first international bank to set up in the Principality, but it has remained there. I insist because there have been complicated periods in the history of Monaco, a world conflict, complex political moments. Barclays has remained in a proactive way. Because from day one, we had a very strong cultural link with the Principality, particularly with its British community. And today, this is still the case.
How will you celebrate this centenary?
We are fortunate to have an exceptional building in Monaco, and we have opened an exhibition on the bank's history. Some very important dates are highlighted: we employed the first woman branch manager in the world. Barclays put the first ATM into service. We have obtained some extraordinary archival items, including a ring that belonged to Elizabeth I.
In addition, we are going to have some special lights and decorations on the building to commemorate the 100-year anniversary throughout 2022. So the building lives!
As of March, we are partners of the Ocean's Week, then very present at the Monte-Carlo Rolex Master, where we will invite many clients. We are also planning events around philanthropy and Impact Investing.
A superb gala dinner, as the summer approaches, will be the apotheosis of this anniversary.
Internally, we are planning events with our employees. Some of them are very involved in charitable causes. They support 23 projects in Monaco and the region, and we help them. They act as ambassadors, and more than ever for this centenary we support them. It's really important.
Your ambition?
We want to perform well for our customers, to give them good service, good execution. To continue to be a local player is fundamental, a partner with the government, the authorities, the charitable foundations. We have supported the Red Cross, Ocean's Week, the Albert II Foundation. More than ever we believe that our role, in Monaco and throughout the world, is to help build a socially responsible future in the ESG sense. This is what our clients, our employees and the new generations are asking us to do, and it is clearly not just marketing. We have recruited a lot in 2021: 27 employees. And we are continuing. I want to strengthen our teams with experts throughout the private bank. It's also a way of projecting ourselves into the future.
Has the pandemic changed the way you work?
It has led us to change the way we manage our work, our employees and the people we recruit. If we want them to grow within the company, we have to adapt, be flexible and intelligent, and give room for a balance between private and professional life. For a better availability to customers and a better service. Diversity, inclusion, is innovation, challenge. Without being overly optimistic, I find the current period very exciting.
What do you think about the digitalization of the bank?
It's important to connect us more with our clients. Thanks to digitalization, our employees can have better means to spend more time with them. Will digitalization replace the men and women who deal with private banking clients? Certainly not. Private banking is above all about service. But on the other hand, digitalization in the backstage is fundamental.
Are there any new financial products?
Yes, absolutely. Given the performance of our mandates, Barclays Private Banking is more than ever an asset management company. Our processes and our performance have a truly significant track record. This year, we are seeing more volatility in the markets. Our management mandates are performing extremely well and we are therefore continuing to invest, including in ESG.
We have developed our private equity activities. Our investment club offers direct deals to our private equity clients. Last year, we also developed the whole alternative part, in particular hedge funds, and we will continue to do so.
In the credit business, we support major projects, particularly real estate projects, in Monaco, on the Côte d'Azur, in Paris and in the French Alps.
Finally, currencies are a good way to diversify portfolios. As clients have several currencies by definition, it is important to have specialists who help them define good hedging strategies, forward strategies. Barclays is one of the main players in capital markets, and we have experts in Monaco.
Do you work a lot with family offices?
Yes, they are not clients as such, but rather partners with whom we work and who have sophisticated demands, with a need for contact with the trading desk. Hence the importance of local experts who allow agility and responsiveness.
