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Month: February 2022

Goldman Sachs set to return to the Principality

by: Stephanie Horsman
17/02/2022
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New York-based multinational investment firm Goldman Sachs is setting up shop again in Monaco, expanding operations for HNWIs as part of its European strategy. 

The American financial services company reportedly received approval last month and will re-establish a private wealth unit branch here, six years after it closed a former location.

Two Barclay’s veterans, Arnaud Caussin and Thibaut Lambert, will be in charge of the new office, and wealth advisor Serge Olive will also be joining them from the British bank.

The move is a shrewd one considering that a full third of Monaco’s 39,000 residents are millionaires.

Goldman’s private wealth unit has added a considerable number of advisers across Europe, Africa and the Middle East in the past few years as part of the company’s strategy. Chief Executive Officer David Solomon’s plan is to make Goldman less reliant on trading.

“The opening of our presence in Monaco is critical to delivering on our regionalisation strategy and overall growth plan,” said Chris French, co-head of private wealth management for EMEA, in a statement. “Monaco represents a significant jurisdiction for our private wealth business in Europe.”

The return of Goldman Sachs to Monaco puts them in good company, joining other global institutions such as UBS Group and Citigroup.

In February 2020, Swiss private bank Pictet opened a banking branch in Monaco in response to rising demand from the region’s private clients.

According to Bloomberg, Goldman’s wealth management and consumer unit revenue grew 25% in 2021 to $7.5 billion (€6.6 billion) over the previous year. At the end of last year, they had roughly $751 billion (€661 billion) in assets under their supervision.

 

Photo by Cassandra Tanti, Monaco Life 

 

 

 

Weekend Ski Report: 18th – 20th February

by: Luke Entwistle
17/02/2022
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The wait for the first snowfall of 2022 finally came to an end for many resorts in the region this week. The fresh snow, coupled with some great events, gives ample reason to take to the slopes this weekend.

Isola 2000 – There are currently 29 ski slopes and 17 ski lifts open at Isola. The resort finally experienced its first snowfall of the year earlier this week, and visitors can expect there to be between 95 and 80 cm of snow. The forecast is for sunny spells, with more clouds expected on Saturday. There will be highs of 12°C and lows of -2°C. The col de la Bonette and la Lombarde roads are closed until the end of the winter season. On Saturday, Isola will be celebrating its 50th birthday with a whole range of events including a firework display and a film to commemorate the date.

Auron – There are currently 30 ski slopes and 16 ski lifts open at the resort, with between 80-90 cm of standing snow following the region-wide snowfall earlier in the week. It will be largely cloudy over the weekend, though visitors can expect clear skies on Friday. It will also be considerably milder than last week with highs of 10°C and lows of -1°C. In terms of access, Route de la Tinée, Route de la Bonette, Piste de la Moustière, Piste de Demandols all remain closed. The resort will be hosting an open-air gallery starting on Friday night and lasting the entire weekend.

Les Deux Alpes – There is a large choice of runs at the resort with 48 ski slopes and 28 ski lifts currently open. There is 65cm of soft standing snow. It will be a largely cloudy weekend at the resort with sunny intervals, as well as the chance for some fog on Saturday. There will be lows of -5°C and highs of 11°C.

La Colmiane – There are 16 ski slopes and seven ski lifts open at the resort, with between 75 and 50 cm of standing snow thanks to fresh snow falling on Monday. It is expected to be slightly windy on Friday with winds of 21 km/h, and, as is the case throughout the region, skiers can expect sunny intervals. It will be milder compared to last week, with highs of 11°C and lows of -1°C. On Friday, there will be a torch-lot ski descent at the resort followed by a firework Sunday. The resort also hosts a market on Saturdays, and will continue to do so until the end of March.

Greolieres les Neiges – There are three ski lifts open, as well as 30km of open runs. There is 40 cm of powdery standing snow at the resort, with 30 cm at lower levels thanks to snowfall on Monday and Tuesday. Relative to neighbouring resorts, Greolieres will be sunnier and much milder with highs of 13°C and lows of 6°C. The resort isn’t reporting any road closures.

Limone Piemonte – The Italian resort is reporting 16 open runs and 11 ski-lifts, while snow levels vary from 35 cm to 70 cm. The resort experienced heavy snowfall last week, but no more is expected over the weekend. Instead, it will be largely cloudy with sunny intervals with lows of 1°C, highs of 13°C. Passage through the Roya valley currently isn’t possible due to the collapsed bridge at Tende. Drivers must instead pass through Ventimiglia and the journey from Monaco is currently approximately three hours.

Valberg – There are 29 ski slopes and 14 ski lifts open. The resort currently has between 80 and 60 cm of standing snow, following the snowfall on Valentine’s Day. Conditions will be good throughout the weekend with sunny intervals expected each day, with winds of up to 40km/h on Saturday. It is expected to be very mild with highs of 13°C and lows of 2°C.

Note: Snow tyres must be worn on the roads up to the ski resorts.

 

Photo taken from Limone webcam

 

 

 

 

Roca Team sail into quarter-final 

by: Luke Entwistle
17/02/2022
monaco-life-news-monte-carlo-basketball

A routine victory against Le Mans in the French Basketball Cup (92-76) on Wednesday saw AS Monaco Basketball progress to the quarters, whilst arresting their recent slide in form.

Following defeats to Zalgiris in the Euroleague and Lyon-Villeurbanne in the Betclic Elite, Sasa Obradovic rang the changes. Key players such as Mike James and Donatas Motiejunas failed to even make the squad.

In their absence it was Donta Hall who stepped up with the match-winning performance. His contribution to both the offensive and defensive phases (15 points and 16 rebounds) was pivotal to Monaco’s progression. Brock Motum, meanwhile, finished as the top scorer (18), his 67% accuracy from outside the key from six attempts the main source of the Australian’s points.

Following a tight first-quarter (17-17), the Roca Team were too strong for Le Mans in the second. An exhibition of attacking fluidity yielded 34 points, dealing a fatal blow to the away side’s chances of qualifying for the next round.

Monaco only needed to maintain the gap in the second-half, and a solid defensive performance ensured that Le Mans weren’t handed a route back into the tie, Paris Lee particularly aggressive in his defending.

Post-match, Obradovic was complimentary of his side’s overall performance, whilst singling out the MVP for praise. “In terms of energy, everyone turned up today. Donta Hall is one of our key players and it’s good to see him at this level.”

The Serbian coach also expressed his gratitude towards the home fans. “There was a good atmosphere in the court, and all of our players were encouraged right until the end.”

Monaco next face a trip to Gravelines-Dunkerque on Saturday, before welcoming Russian side Unics to the Salle Gaston Medecin on Tuesday

 

 

Photo source: AS Monaco Basketball

 

 

 

Free Covid tests at schools on Monday

by: Stephanie Horsman
16/02/2022
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In effort to keep Monaco on its downward Covid-circulation trajectory, the government is reinstating its mass screening campaign for returning students, teachers and staff after the February break.

Thousands of self-tests will be up for grabs on the first day back to class, Monday 21st February, on a voluntary basis. Adults will be able to decide for themselves, and children will be invited to test, subject to parental authorisation. Parents will be contacted ahead of time by their children’s school offering the authorisation form.

These tests are the exact same ones used at the start of school back in January. The paediatrician-recommended tests are fast, non-invasive and easy-to-use. They are done by use of a small nasal swab inserted in the entrance to the nostril and deliver results in just 15 minutes.

People who test positive are quickly identified, thus preventing the potential spread to other classmates and school staff members, limiting contamination.

Nearly 5,000 people took advantage of the campaign in January, and the government hopes to exceed that number this time around.

For those outside of a school environment, the government reminds residents they can also obtain free testing by calling the National Screening Centre for an appointment on +377 92 05 55 00.

 

Photo source: Government Communication Department

 

 

James Blunt, Pink Martini, Imany… Summer Festival 2022

by: Stephanie Horsman
16/02/2022

The Société des Bains de Mer hosts a summer music festival every year showcasing some of the biggest names on the planet. This is the 2022 schedule so far…

For almost half a century, the Monte-Carlo Summer Festival has been a mainstay in the summer social calendar. Huge stars like Sting, Seal, The Jacksons, Enrique Iglesias, John Legend, The Beach Boys and Ringo Starr are among the talent to have walked the stages of Summer Festival’s past.

This year, the concert series hits a new high with a line-up that includes musical talent across several genres.

Opening night, 13th July, welcomes American retro Jazz-pop band Pink Martini to the stage. Formed in 1994, their first album Sympathique went double gold in France in 1997, and the title single has become a classic in its own right. Playing original songs and covers in several languages, including English, French and Spanish, this versatile band is hard to pin down style-wise, but has been a crowd-pleaser for nearly three decades.

Pink Martini is coming to the Opera Garnier on 13th July. The show starts at 8:30pm and, as with all the Summer Festival events, proper attire is expected, meaning jackets for men and dresses or the like for ladies. Guests over the age of seven years old are invited to join in.

Next up is Imany, who will be presenting her latest, Voodoo Cello, for the crowd’s delight. A late bloomer in the music world, she has nonetheless made a huge impact with her music, an eclectic blend of blues, soul and folk. This new album incorporates her warm bass tones with eight cellos reprising some of history’s biggest hits, from diverse artists such as Bob Marley, Radiohead, Cat Stevens, Hozier, and Donna Summer.

Imany comes to the Opera Garnier on 15th July for an 8:30pm concert.

Then, English superstar James Blunt hits the stage in Monaco. The epitome of the sweet-faced, tormented rock star, Blunt has captivated audiences for years. With songs meant to evoke emotion, he explores difficult topics such as war and heartbreak to singular effect.

He returns this year with a compilation of his greatest hits. The Starts Beneath My Feet celebrates 17 years of entertaining audiences and will be the cornerstone of his concert.

James Blunt will be playing on 28th July at the Salle des Etoiles in a dinner show.

Last but not least is super-sexy singer and actress Rita Ora. Whilst performing as an actress in London, she was clocked by a talent scout who introduced her to rapper Jay-Z in New York when she was just 18. He signed her to his label, starting her on the road to stardom. In 2021, she released Bang, her fourth album, which she will be showcasing at the Summer Festival.

Rita Ora will be at the Salle des Etoiles on 31st July for a dinner show.

 

Photo of James Blunt by Kmeron on Flickr

 

 

 

Monaco shines at Prix de Lausanne 2022

by: Cassandra Tanti
16/02/2022
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The Princess Grace Academy stood out during the finale of the International Competition for Young Dancers at the prestigious Prix de Lausanne, with three students taking out prizes.

Of the 70 dancers and 20 finalists who took part in the competition oon 5th February, three students from the school involved with the Ballets de Monte-Carlo stood out. Young American Darrion Sellman won the Oak Foundation Gold Medal and Scholarship, while Frenchman Dorian Plasse won the Coromandel Foundation grant and the Contemporary Prize. The scholarships will give  these young talents the opportunity to choose the Company they will join, among the prestigious partner institutions of the Prix de Lausanne.

A third student of the Princess Grace Academy, Italian Luca Branca, stood out with his version of ‘Les ombres du temps’, interpreted by Yo Nakajima from the same school, and won one of two Young Creation Awards. His original creation will be added to the contemporary repertoire of the Prix de Lausanne 2023.

Each year, a partner school or company is invited to present a piece during the Prix de Lausanne, and this year, it was the Princess Grace Academy’s turn to show off its know-how. 10 students performed ‘Back on Track 61’ by Jean-Christophe Maillot.

 

 

Photo of Darrion Sellman by Gregory Batardon