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Day: 5 October 2020

Storm Alex: rescue efforts continue

by: Cassandra Tanti
05/10/2020

The death toll continues to rise in France and Italy following Friday’s devastating storm. Meanwhile, Monaco is doing all it can to help its neighbours.
As of Monday afternoon, the death toll stood at seven. The first body was recovered on Sunday in a submerged car in Saint-Martin-Vesubie, while two bodies were discovered by the rivers’ edge on Monday in Colomars and Lantosque.
According to Italian media reports, at least four bodies have been found on the coast of Liguria. Italian and French teams were working together to try to identify them.
In the Alpes-Maritimes, eight people who were visibly washed away in the storm are still being sought by emergency services, as well as 13 others who are presumed missing and are yet to make contact with loved ones.
Storms, torrential rain and flash floods battered the region on Friday, washing away roads and houses, cutting off entire villages and triggering landslips.
In Breil-sur-Roya, a French village close to the Italian border, houses were buried in mud and turned-over cars were stuck in the riverbed.
Rescue efforts were concentrated on the Roya valley where roughly 1,000 firefighters, backed by helicopters and the army, resumed their search for survivors and helped people whose homes were destroyed or inaccessible.
By Monday afternoon, emergency services in the Alpes-Maritimes had managed to rescue some 560 habitants, while 150 are still waiting to be evacuated.
“What we are going through is extraordinary,” said Bernard Gonzalez, prefect of the Alpes-Maritimes region, after as much as 60 centimetres of rain fell in 24 hours in the worst-affected areas.
Four French military helicopters continue to deliver water, medical equipment, generators and fuel, as well as bring rescued residents to safety.
Christian Estrosi, president of the Nice Côte d’Azur Metropolis, said that water will begin to be deployed to people in the high country – 60% of whom have no access to drinking or bathing water.

© Direction de la Communication / Stephane Danna

Monaco’s response
Prince Albert of Monaco has written letters to French President Emmanuel Macron, the figures of the Alpes-Maritimes department and the Mayor of Ventimiglia to show them “his sympathy and support during these painful moments”.
Logistical support and manpower were offered as early as Saturday morning, and Monegasque firefighters have been on stand-by to serve as reinforcements in cleaning operations.
On Sunday, 14 tonnes of bottled water was delivered by Monaco’s Public Force to Carros and Breil.
The government said emergency aid will also be made available.
The Monaco Red Cross has now launched an appeal for financial donations to help the victims of the storm. There are four ways to donate: either by dropping off cash at the Red Cross headquarters on 27 boulevard de Suisse; writing a cheque payable to the ‘Croix-Rouge monégasque’ and specifying ‘Tempête Alex’; via the website; or by bank transfer (RIB available on the site).
The City of Beausoleil is also collecting non-perishable foodstuffs for the residents of the Roya. Items can be dropped off from Tuesday to Friday, 11am to 4pm, at 11 avenue Professeur Langevin.
The Diocèse de Monaco, in conjunction with CARF (French Riviera Community of Agglomeration), is collecting donations of non-perishable food in all churches of the Principality. Caritas and the Société de Saint Vincent de Paul are also participating.
 
 
 

Conference centre launches new TV studio

by: Cassandra Tanti
05/10/2020

The Grimaldi Forum Monaco has created a hybrid TV studio and webinar facility to complete its offering of events combining face-to-face with virtual participation.
While the events sector is going through major upheavals linked to the issues of health security and social distancing, the Grimaldi Forum Monaco is adapting. Last week, it launched its new hybrid studio with a permanent, modular and evolving platform for the organisation of TV shows and webinars. The first webinar took place on 25th September during which 200 participants from all over the world were able to interact with the speakers via a chat broadcast from the platform.
Located in the Le Guelfe space, which occupies more than 600m2 on the second floor of the Principality’s convention and cultural centre, the fully-equipped permanent studio is designed in such a way as to enhance the traditional webinar that an organiser can offer to participants who cannot be physically present at an event.
Covering an area of 50 m2, it is fitted with a lighting rig and three turret cameras, a 12m x 2.5m “green screen”, a recording control room and a modular platform with three possible configuration.
The “GFM-created” set is supported by a full team which will be in charge of the video, sound and lighting control rooms at the edge of the set.
The virtual streams can be sent to different platforms, from the dedicated website to social networks. Logistical support is also offered as an option: before going live with a turnkey registration tool, during the live event with several options of interactivity with the public, and after the live event with the delivery of videos made in post-production.
After receiving the Monaco Safe label which guarantees the organisation of an event at the GFM under the best conditions, the Principality’s conference and cultural centre now has a full range of services with innovative event solutions that combine face-to-face with virtual participation.
Picture © Grimaldi Forum Monaco 2020. TV news platform version with the equipment mounted high up. From left to right: C.Bricout – Events Manager,  M.H. Ballestri – Director of Events,  S.Biancheri – Director-General, D.Rubrecht – Communications Director.
 
 
 

Monte Carlo Opera announces new season

by: Stephanie Horsman
05/10/2020

The new season of the Monte Carlo Opera is fast approaching with an incredible line-up and some great surprises that all begin on 15th October.
The 2020-21 season opener comes just in time for Halloween with a spooky cine-concert featuring the 1922 Friedrich Wilhelm Murnau classic Nosferatu, based on the Bram Stoker novel Dracula. The film, which was hit with legal action in its day, survives today only due to the director having held back a copy, allowing us to view the 100-year-old film in its entirety today. The musical accompaniment will be by Jean-François Zygel, who will perform on the piano and celesta.
This will be followed by an invitation-only performance by mezzo-soprano star Cecilia Bartoli on 19thNovember in honour of Monaco’s National Day with an evening of opera ranging from baroque to romantic bel canto. She will be joined by the Prince’s Musicians for a truly unforgettable evening.
A classic and perennial favourite Carmen is next up, with shows on 20th, 22nd and 24th November. This four-act opera with music by Georges Bizet stars Aude Extrémo in the title role and Jean-François Borras as the naïve soldier who is seduced and destroyed by the beautiful gypsy. The Monte Carlo Philharmonic, the children’s choir of the Rainier III Academy and the Choir of the Monte Carlo Opera, support the cast.
The year rounds out with Spanish opera super-star Placido Domingo performing in an unknown Verdi opera, I due Foscari on 5th December. Domingo takes on the role of Francesco Foscari, a doge in his twilight years who is torn between his duty and love for his family. The Monte Carlo Philharmonic and the Choir of the Monte Carlo Opera add to the spectacle.
“Within the season offered to you, some will seek adventure, others for achievement, emotion or even oblivion,” saod Director of the Opera Jean-Louis Grinda. “So many different reasons to attend to an opera performance or to hear a great soloist in concert.”
The season will continue in the New Year with more exciting events. For more info and for tickets, visit www.opera.mc
Photo © Monte-Carlo Société des Bains de Mer
 
 
 

Interview: Olivier Franceschelli, Head of Private Banking in Monaco

by: Cassandra Tanti
05/10/2020

In taking the lead at Barclays Private Bank Monaco, Olivier Franceschelli will further strengthen Barclays position as the longest-serving foreign wealth manager in the Principality.
Mr Franceschelli spoke to Monaco Life about his vision for the Monegasque institution which is nearing its 100th year, the importance of linking private and investment banking, and what he thinks the future of finance looks like.
Monaco Life: Can you explain what it was like to take up such a senior position at Barclays during the peak of the Covid crisis?
Olivier Franceschelli: I have to say, despite one’s efforts to tick all the boxes and take care of all the details, sometimes incredible things can happen. I actually ended up joining the Barclays team working from home. It was quite an interesting experience because it allowed me to discover the team spirit that exists at Barclays Monaco. As you can imagine, I had to get to know my team, build a relationship and share my vision with them, all by Webex!  Fortunately, everything went well. Everyone was prepared and very helpful. Then after a month, I joined the team in the office. We have 50% of the team back in the office now, but as you say it was a very particular moment to join.
Can you tell us what your vision is for Barclays Private Bank Monaco?
Given the expertise that I have gained over the past 17 years working in foreign banking institutions, I have a vision about what this bank – the only banking institution in Monaco with British heritage – should be in terms of servicing residents and new clients relocating to Monaco. There is obviously a very high number of high net worth individuals (HNWI) in Monaco, and it is a very strategic location for the private bank.
My mission as the new Head of Barclays Private Bank in Monaco is to drive growth and develop our private banking offering while bringing the full capabilities of the Barclays Group to serve our clients’ needs. By providing a connection to Barclays’ leading Investment Bank and Corporate Bank to our clients in the region, Barclays Private Bank is able to bring the power of one Barclays to our clients in Monaco.
When I joined Barclays, I was pleasantly surprised to see how strong the links between the private bank and our corporate and investment businesses are. In fact, we have daily communications with what we call our Strategic Solutions Group, which is all about bringing the power of one of the largest investment banks in the world to the sophisticated clients of the Private Bank in the Principality. This is one of the core pillars of the firm’s ultra-high net worth (UHNW) proposition and provides strategic solutions to UHNW clients by leveraging the capabilities of Barclays Corporate and Investment Bank. We also bring the expertise of our specialists in different areas, including Structured Products, Discretionary Mandates, Long Only Funds and Alternative assets; and have capabilities to finance assets in the Principality, France and in other parts of the world like the UK or the US, with a very strong expertise in real estate.
How important is the growing trend of global family offices setting up shop in Monaco to Barclays?
It is clearly a movement we have been seeing. In July, we welcomed Effie Datson to the Barclays Private Bank leadership team as Global Head of Family Office. In this newly created role, Effie is working to grow the Global Family Office (GFO) client segment in partnership with the business and product heads and coordinating across all product areas to further define and enhance our GFO proposition and product set.
From my experience, UHNWIs have a tendency to regroup themselves in single or multi-family offices, and Barclays Private Bank is well prepared to serve this kind of client. Today, even if you are talking to a big single family office which is established in Monaco, you have to be prepared for the fact that they may need to open an account in Luxembourg, send their children to America, maintain property in the UK and open a branch in Australia, for example. This means that our product and services need to be flexible and that we ensure that all the different parts of the bank are working together to serve this family office.
In addition to having a good reputation, being a good advisor, and serving clients in Monaco, today banks need to able to provide clients with bespoke solutions wherever and whenever they need it.
How many assets under management are there at Barclays Private Bank Monaco?
Barclays Private Bank is part of Barclays Bank PLC, and as such we do not share numbers for Monaco specifically. However, I can confirm we are ranked number four in the official table of banks in Monaco in terms of assets under management.
Do you have a figure that you would like to achieve?
As I previously mentioned, we are ranked 4th in Monaco in terms of assets under management. Of course, it would be fantastic to advance in terms of position, but the quality of service we offer our clients is extremely important for us and that is our focus.
What is your first objective then?
My main objective is to bring the very best of Barclays to private bank clients in Monaco. Many of our international clients want to feel exactly the same in Monaco as they would when banking in the UK or Switzerland. Clients expect to have a global discussion with us, not just talk about the bank account they have in Monaco. Today, banking and investing are more complex than ever and clients want access to the full capabilities of Barclays no matter where they are in the world at a certain point in time. To support this ambition, Barclays Private Bank has strengthened its leadership team with the appointment of Melanie Aimer as Global Head of Client Experience. In this new role, Melanie will support our strategic growth ambitions by taking on end-to-end responsibility for client experience, including product propositions, marketing and distribution and digital face to market and client facing processes.
How will you achieve this?
The connections within the group are efficient and the way we work both locally and globally is based on strong collaboration. For example, our advisors participate in business calls through market managers. If someone has a client from a particular part of the world, they can communicate with the relevant market manager, who is aware of what is happening in that market, and offer a coordinated and tailor-made solution to the client. This transglobal approach is working extremely well.
How much of a focus is sustainability for Barclays?
ESG has been the coming force in investment in recent years and Barclays Private Bank has a globally recognised expertise in sustainable investing. In Monaco, last February we were named best private bank in Monaco for sustainable and impact investing by Euromoney.
We are receiving many requests from clients regarding global ESG (Environmental, Social and Governance) investments. Following the pandemic, there has been enormous engagement and plenty of questions on what tomorrow’s allocation on ESG products will be. An increasing number of UHNWs and Family Offices are focusing today on the societal impact of their investments.
Where does Barclays position itself in a FinTech future?
We recognise the importance of FinTech and it is an area of focus for us. This is definitely something that is going to develop. I have been in Monaco for 19 years, and lately I have seen a different, younger type of resident coming into the Principality: aged in their late 40s with young children and a different view of what they expect from the Principality. I believe FinTech is going to be more present, we will see an acceleration in the sector. All across the financial sector, people are moving towards a mobile first strategy and our aim is to combine the very best in sector tech with a more engaging and personalised digital experience for our clients.
 

Injuries inhibit AS Monaco against Brest

by: Stephanie Horsman
05/10/2020

Short several players, AS Monaco held the fort, but not enough to take home the win in their match against Brest on Sunday.
It reads like a laundry list of the team roster: Golovin, Henrique, Ballo-Touré, Maripan, Disasi and Tchouameni. All of these players were out of action for Sunday’s Ligue 1 match against Brest at the Stade Francis-Le Blé.
The first four were suffering injuries and therefore unable to play and the last two were side-lined due to suspensions. The suspended players were a particular blow as both Disasi and Tchouameni have been regular starters since the beginning of the season.
Nonetheless, the Red and Whites carried on using Coach Kovac’s 4-3-3 traditional line up, allowing for some Academy defenders game time alongside more seasoned players. Gelson Martins played left wing, Sofiane Diop took midfield and Guilian Biancone covered left back.
Brest came out strong from the start, living up to their determined reputation. This was made crystal clear from the opening goal, which came at only eight minutes in and was made by Romain Faivre, a former graduate of Monaco’s Academy.
Monaco was nearly caught off-guard just minutes later with a run by Steve Mounié, though fast action by Benjamin Lecomte thwarted the effort.
Gelson Martins nearly evened up the game with a shot that was mere centimetres wide of posts, giving goalie Gautier Larsonneur a fright. After these exciting moments, it was mainly a power struggle between two teams not willing to give the other an inch. Monaco had possession 60% of the first half, but sadly weren’t able to convert that into a score.
In the second half, Coach Kovac brought in Florentino Luis, a new recruit to the team from last summer’s transfer window, to keep an eye on the midfield. The Brestois came out in this half much as they had in the first, though Monaco did an excellent job defending the ball and despite there being much volleying and shots on goal, no more points were scored. In the end, the final was 0-1 for Brest.
“I came away from this match frustrated,” Coach Kovac said after the game. “It is true that we did not start well, but then we had possession and a lot of chances. We were too passive and not aggressive enough at the start of the match. We then changed our behavior by being much more active with and without the ball. But 15 minutes can be enough to lose a match, and it will be necessary to react after the break against Montpellier.”
 
Monaco returns to action against Montpellier on 18th October at home at Stade Louis II.