Gérald Mathieu, CEO of Barclays Monaco, also chairs the AMAF’s Commission for the Pro- motion of the Financial Marketplace. He believes that the high standards demanded by new residents serve to enhance the Monegasque financial sector’s reputation for excellence.
What is the AMAF doing to make Monaco’s financial marketplace more attractive?
It works in three areas.
The first is obviously regulation. The AMAF is exemplary when it comes to supporting the re- gulatory process, and this strengthened role is essential in the context of MONEYVAL. Our proposals concerning legislation to the go- vernment reflect the reality of the Monegasque environment.
The second area is training. We aim to provide our talents with the training they need in order to develop, in partnership with the International University of Monaco (IUM), and to attract new talents too.
Finally, we do a lot of work on ESG and Impact Investment, with partners as diverse as Monaco Finance Durable, AMFID (the Monegasque Asso- ciation for Sustainable Finance), and the Albert II Foundation.
I must stress that the AMAF is fully behind Mr Frédéric GENTA’s policy aimed at making the marketplace more attractive, as evidenced by the numerous international trips we make to promote Monaco’s financial centre: Brussels, London, and next year Dubai.
Is it a real challenge to attract new talents to Monaco?
Absolutely. Monaco’s private banking and asset management market is truly exceptional. There are UHNWIs from every country residing in the Principality, and in a period of economic and social instability of the kind we are currently experiencing, they can find the stability and se- curity they are looking for here. These clients are keen to talk to bankers and asset managers like themselves: multicultural, with very high levels of expertise. These are the talents we need to win over !
How?
By explaining to them that the biggest names in international banking, and third-party asset ma- nagers, are here in the Principality.
Today, our services cover the whole banking spectrum, and high-performance trading rooms are based here. Given the nature of our real es- tate market, our financing resources are cutting edge - extremely efficient in terms of execution, highly competitive in terms of financial enginee- ring. Clients, many of whom are international entrepreneurs, are constantly challenging us to help them preserve and grow their private and professional assets. The full gamut of financial services can be found in the Principality, working for exceptional clients. We can absolutely hold our own against Singapore or Luxembourg.
You also highlight the importance of CSR?
The new generations expect us to be capable of ever greater transparency, and are highly sensitive to environmental, social, and gover- nance (ESG) commitments. Our Sovereign is himself very committed to sustainable develop- ment and the environment. Flowing his lead, the department of Finance and Economy has often spoken about the importance of finan- cial and technological innovation in the energy transition, and the role of organisations like MonacoTech, Monaco Finance Durable, and the Fonds d’Innovation, d’Impact et d’Accéléra- tion Monégasque (F2IAM) in making the local economy more “sustainable” (by creating bu- sinesses and jobs, helping to keep innovation in the Principality, and so on).
All banks and asset managers in Monaco are fully in step with the government on this issue, and offer solutions, products, and services that guarantee the future in terms of ESG.
What is your verdict on the AMAF’s latest trip to Brussels?
The trip was organised as part of the strategic plan for attractiveness, one of the main planks of which is to work with public and private stakeholders to coordinate all actions aimed at amplifying and expanding the Principality’s power to attract internationally.
Over the two days, we met with the Diplomatic and Consular Corps, and a network of influen- tial Belgian personalities. The trip was also an opportunity to forge closer ties with local professionals on development issues of impor- tance to both countries. This type of operation strengthens my belief that all AMAF members are ambassadors for the Principality. It is an ex- cellent way of making very high-level contacts, and convincing them of our expertise. Following the same approach, the trip to Lon- don was also a success.
