Day: 4 June 2024

The Principality of Monaco has made a voluntary contribution of €120,000 towards several Council of Europe-backed projects, including action plans to combat violence against women and improve protections for vulnerable people seeking asylum on the continent, as well as the Bern Convention for the Conservation of European Wildlife and Natural Habitats. 

At a meeting on 30th May between Ambassador Gabriel Revel, the Permanent Representative of Monaco to the Council of Europe, and Bjørn Berge, the Council’s Deputy Secretary General, the Principality renewed its agreement to provide voluntary contributions to the organisation to the tune of €120,000 in 2024.  

The funds will go towards four distinct projects and missions: a programme combatting violence against women and domestic violence in Morocco and Tunisia; the Council of Europe Action Plan on Protecting Vulnerable Persons in the Context of Migration and Asylum in Europe 2021-2025; the Fund for the Convention for the Conservation of European Wildlife and Natural Habitats, also known as the Bern Convention; and assisting in reducing the backlog of well-founded cases at the European Court of Human Rights.  

The support provided by the Principality comes on the back of a separate financial package offered by Revel in December 2023, which pledged €10,000 towards efforts to improve protections for vulnerable people seeking asylum in Europe.  

Read related:

Monaco authorises remote working rights for Italian employees

Join the Monaco Life community – sign up for the Monaco Life newsletter, follow our Podcasts on Spotify, and check us out on Threads, Facebook, Instagram, LinkedIn and Tik Tok.   

Photo source: Council of Europe

Impactful discussions took centre stage at a breakfast conference organised by the Junior Chamber of Commerce of Monaco on Tuesday, where leaders from the Monaco Red Cross and the Prince Albert II of Monaco Foundation shared insights on global initiatives.

On 4^th June, the Junior Chamber of Commerce of Monaco (JCI), a community of young professionals under 40 dedicated to improving Monaco’s economic development, organised a breakfast conference at the Meridien Beach Plaza. The conference explored the balancing act that Monaco’s foundations and associations carry out between local initiatives and global commitments. 

The two key guest speakers were Olivier Wenden, Vice President and Managing Director of the Prince Albert II of Monaco Foundation, and Bettina Ragazzoni-Janin, General Treasurer of the Monegasque Red Cross. 

Commitment to vulnerable communities worldwide

The Monaco Red Cross operates locally and globally. Locally, it assists those in need, organises events for the elderly and underprivileged, and provides first-aid training. Internationally, it partners with other Red Cross societies on sustainable projects, ranging from emergency response to long-term development, focusing on social and health sectors.

“The principle is to help vulnerable communities as much as possible,” said Bettina Ragazzoni-Janin.

The focus of the Monaco Red Cross is currently on Burkina Faso. This country is experiencing a humanitarian crisis due to a significant escalation in violence and the closure of over a third of health facilities and thousands of schools.

The Monaco Red Cross opened a multi-purpose training centre in Loumbila, Burkina Faso, to aid the vulnerable community. It also provided two fully equipped ambulances and a shelter for women and children to escape abuse. 

“We always try to be present in any project that we undertake by providing assistance and support to the vulnerable community,” said Ragazzoni-Janin. 

In addition to its ongoing projects in Burkina Faso, the Monaco Red Cross provided over €850,000 in financial aid in 2023 alone to support those affected by natural disasters, humanitarian crises, armed conflicts, and health emergencies. 

“In light of today’s complex geopolitical situation, we must persist in our mission,” affirmed Ragazzoni-Janin. 

Leading global initiatives for planetary health

Like the Monaco Red Cross, the Prince Albert II of Monaco Foundation is a local foundation that takes its initiatives worldwide since it is dedicated to advancing planetary health globally. With over 100 sponsored projects, 110 partners, and €11 million in grants awarded, the Foundation collaborates with international partners to address biodiversity, climate, and ocean challenges.

Olivier Wenden revealed that one of the foundation’s current focuses is its collaboration with MedFund, an association financing marine protected areas in the Mediterranean. The foundation aids its projects to safeguard biodiversity, aligning with international agreements and the 2030 Sustainable Development Goals (SDGs).

“The foundation plays a big and interesting role in international diplomacy. In 2030, we will be able to judge the acts carried out by our collaboration,” states Wenden. 

Wenden also announced the Green Shift Festival, which is only in its second edition and will take place from 5^th to 7^th June. It includes an exciting programme that promotes ecology and social projects. For more information, click here: The Green Shift Initiative – 2024 Edition

“We wanted to create a project that mixes policy and economic and environmental aspects in a fun and engaging manner,” revealed Wenden. 

Join the Monaco Life community – sign up for the Monaco Life newsletter, follow our Podcasts on Spotify, and check us out on Threads, Facebook, Instagram, LinkedIn and Tik Tok. 

Photo credits: Monaco Life

CA Indosuez Wealth Management has become the majority shareholder of Degroof Petercam, the largest private bank in Belgium and a leading centre for cross-border banking and insurance services in Europe. 

Announced in August 2023, the acquisition of the majority of its competitor’s capital was finalised on Monday, following a meticulous process involving approvals from various banking and competition authorities in the EU.

Indosuez Wealth Management, a subsidiary of Crédit Agricole S.A., described the transaction in a statement as “among the most significant in the industry in the past 10 years in Europe”. 

“I am delighted to welcome Degroof Petercam’s teams and extensive expertise to our Group today,” said Jacques Prost, Chief Executive Officer of the Indosuez group, which includes the Monaco-based CFM Indosuez Wealth Management branch. “This acquisition is a transformative and exciting project that reshapes our scope and establishes a European leader in wealth management. It enhances our value proposition with one of the most comprehensive offerings in the market for all our wealthy private clients and families, entrepreneurs and professional investors… Now that this union has become a reality, all our teams across our regions will unite to pool our strengths, shape this new entity and write a new chapter in our collective history.” 

See also: The story behind CFM Indosuez: the oldest and largest Monegasque bank

Indosuez Wealth Management has a 150-year legacy as one of the world’s leading private banks. In addition to its Monaco premises, of which there are five agencies and one trading room, Indosuez Wealth Management is present in 15 other national territories around the world.

The bank now controls 65% of the capital of Degroof Petercam, with almost 20% being held by CLdN Cobelfret, its historical shareholder.  

With the integration of Degroof Petercam, Indosuez will manage €200 billion in customer assets and achieve a net banking income of approximately €1.6 billion based on recalculated 2023 figures. 

You may also like: 

The story behind CFM Indosuez: the oldest and largest Monegasque bank

Join the Monaco Life community – sign up for the Monaco Life newsletter, follow our Podcasts on Spotify, and check us out on Threads, Facebook, Instagram, LinkedIn and Tik Tok.   

Photo: DP office in Brussels