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Month: June 2024

F1’s Charles Leclerc invests in online watch retailer Chrono24 

by: Stephanie Horsman
04/06/2024

Monaco-born Formula 1 driver Charles Leclerc and his elder brother, Lorenzo, have made a joint investment in online luxury watch retailer Chrono24, joining the likes of Cristiano Ronaldo and Bernard Arnault in backing the growing company. 

Alongside his passions for cars and racing, 26-year-old Monegasque Charles Leclerc is also a devotee of high-end timepieces. Among the watches he has been spotted wearing over the years are a Richard Mille RM61-01 Ultimate Edition – just 150 of these timepieces have ever been made – as well as a Patek Philippe Nautilus Travel Time 5990/1R and a Hublot Big Bang MECA-10 Black Magic. 

Leclerc is a particular fan of Richard Mille watches, and he is one of the leading global ambassadors for the brand. Having worked with Richard Mille for over a decade, this relationship reached new heights in 2021 when the brand released the Richard Mille RM 67-02 Charles Leclerc. Since then, Leclerc has been seen sporting the Richard Mille UP-01 Ferrari as well as the Richard Mille RM35-03 Rafael Nadal.  

See more: Interview with Charles Leclerc: “Monaco is the most exciting qualifying of the year”

In addition to his F1 career, Leclerc has also spread his wings into investment and the wider business world. 

On Tuesday 4th June, it was announced that Leclerc and his elder brother, Lorenzo, with whom he runs a family office called All Time, would be investing an undisclosed amount in the online watch vendor Chrono24.  

“The watch world has long captivated me as one of my many passions,” says Leclerc. “There’s a real unification between watch lovers around the world, and my brother and I are excited to be an even deeper part of that community through our investment involvement with Chrono24.” 

See more: F1: Charles Leclerc brings home the win at the Monaco Grand Prix

Currently valued at more than US$1 billion, the company is described as a “solid bet for shrewd investors like the Leclercs”. Other big names that have been drawn to Chrono24 include footballing legend Cristiano Ronaldo, who joined the company as an investor in July 2023, and investment companies such as Bernard Arnault’s Aglae Ventures, General Atlantic, Insight Partners and Sprints Capital. 

“The idea of a sporting legend like Charles Leclerc joining Chrono24 as an investor is thrilling,” says Chrono24 Founder and Chairman of the Board Tim Stracke (pictured above with Leclerc). “He has achieved an incredible legacy already very early in his life, and his prowess as a young investor is a great example of his passion for performance.” 

Read related:

The 2024 Monaco Grand Prix in pictures

 

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Photo courtesy of Chrono24

Indosuez Wealth Management acquires Degroof Petercam

by: Elsa Carpenter
04/06/2024

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. 

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

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Photo: DP office in Brussels

Chagall, Picasso, Dubuffet and Léger to feature in Opera Gallery’s Monaco Masters 2024 exhibit

by: Stephanie Horsman
04/06/2024

This summer, Monaco’s Opera Gallery on Avenue Henri Dunant will host a spellbinding exhibition of the greatest 20th and 21st century artists whose creativity was piqued by their time living on the French Riviera.  

The south of France and Monaco have long been popular with the art crowd for its mild climate, natural beauty and, of course, the fabled light that the region is known for.  

Many who made their names famous by wielding a paintbrush, from Pablo Picasso to Marc Chagall and Fernand Léger, have fallen under the spell of the Riviera and produced some of their most significant and best-known pieces as a result of their time spent living and working in the region.  

See more: Jordane Saget presents ‘Racing Lines: From Streets to Canvas’ at Monaco’s Kamil Art Gallery

This summer, Opera Gallery will be showcasing some of these very special pieces at its Monaco Masters 2024 summer exhibition, which has been entitled ‘The Côte d’Azur, land of inspiration’.   

Marc Chagall’s ‘Le peintre et sa vision des couples’. © Adagp, Paris 2024

The event will feature a diverse range of master-level artists with differing styles, mediums and subjects, but who all had one thing in common: that they lived, worked and drew inspiration from their experiences on the Côte d’Azur.  

In addition to works from the three aforementioned artists, there will also be displays from ebullient sculptress Niki Saint-Phalle, figurative painter Fernando Botero and “low-art” humanist artist Jean Dubuffet.  

The exhibition will run from 2nd July to 31st August at Opera Gallery in the Palais de la Scala on Avenue Henri Dunant.  

For more information on this upcoming event, as well as current exhibits, click here. 

Read related:

Alan Walsh launches ‘Extraordinary Automotive’ exhibition

 

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Main photo credit: Jean Dubuffet, La Procession, 1965 © Adagp, Paris 2024

Knights and warriors prepare for battle at the Tournoi de la Principauté de Monaco

by: Stephanie Horsman
04/06/2024
Tournoi de la Principauté de Monaco

It has been a long time since the streets of Monaco saw any real battle action, but the past will come alive this month as the Chapiteau de Fontvieille hosts the Tournoi de la Principauté de Monaco, a medieval combat competition that will feature the Principality’s own Grimaldi Milites. 

Sporting authentic armour, forged as it would have been done in medieval times, the combatants at the upcoming Tournoi de la Principauté de Monaco on Saturday 15th June will be arming themselves with traditional weaponry and puffing their chests up with gallantry and valour ahead of a series of battles on the sands of the Fontvieille arena. 

The event marks the opening stage of the French 5vs5 Medieval Combat Championship Games and will feature 16 teams, including Monaco’s own Grimaldi Milites. 

See more: How the Grimaldis came to live on the Rock

Though it will all look very fierce and real for the spectators, the competition, which is being organised by ASM Combat Médiéval under the aegis of the Fédération Française de Béhourd, is governed by strict rules and safety measures in order to keep participants safe.  

Still, lord and lady visitors should expect a thrilling atmosphere, with the clashing of swords and plenty of swooning.

Entrance to the event, which will be held between 10am and 6pm, is free. 

For more information, click here.

Read related:

A dozen French and Italian towns coming to Monaco to celebrate Grimaldi heritage

 

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Photo credit: The Grimaldi Milites, Facebook

M3’s Smart and Sustainable Marina Rendezvous returning to Monaco this September

by: Niki Borisova
04/06/2024

The Monaco Smart and Sustainable Marina Rendezvous will be returning to its roots this autumn following an overseas session in Dubai earlier this year. On the programme: networking events, workshops, conferences and a number of keynote talks from the pioneers who are driving innovation and positive change in the yachting and marina management industries. 

On 22nd and 23rd September, just days before the Monaco Yacht Show is held in Port Hercule, Monaco Marina Management (M3) will be hosting the fourth edition of the Smart and Sustainable Marina Rendezvous at the Yacht Club de Monaco. 

The organisers, who are being supported this year by the Prince Albert II of Monaco Foundation, hope to draw in around 300 decisionmakers and leaders from the luxury maritime industries with a diverse and all-encompassing schedule of events that will tackle topics such as financing, architecture and technology.  

Heading up this year’s edition will be David Seal, a yachting industry expert and Head of Video Production at Northrop & Johnson.  

The event will also feature a competition covering three categories: Operational Marinas and Project Marina, Start-ups and Scale-ups, and Architects. The awards ceremony close out the two days of discussions.  

To explore the preliminary programme, click here.

To register and for more information, click here.  

Read related:

Monaco Marina Management’s GCC Smart Yachting Days in Dubai a “resounding success”

 

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Photo credit: sustainablesmartmarina.com 

A dozen French and Italian towns coming to Monaco to celebrate Grimaldi heritage

by: Stephanie Horsman
04/06/2024
Meeting of the Grimaldi Historic Sites

Representatives from towns across France and Italy have been invited to the Principality for the upcoming Meeting of the Grimaldi Historic Sites network, a union of municipalities from all over Europe that have links to Monaco’s dynastic family. The gathering is also open to the wider public and will offer a packed programme of activities and events. 

Between 15th and 16th June, representatives from two French and 10 Italian towns and villages will be heading to the Place du Palais in Monaco for a celebration of their shared heritage and ancestral ties to Monaco’s ruling family.  

All are part of the Grimaldi Historic Sites network, a confederation of nearly 150 municipalities in mainland France, Corsica, Italy and Andorra that are in some way linked to the Principality.  

See more: Heritage sites in Monaco that are well worth a visit

Visitors will this year include people from Breil-sur-Roya and Bathernay in France as well as Ventimiglia, Olivetta San Michele, Airole, Ripacandida, Campagna, Monteverde, Spinazzola, Poggiorsini, Terlizzi and Canosa di Puglia in Italy. 

For these municipalities, the gathering is an opportunity to showcase their own cultural identities and learn more about the rich patchwork of Grimaldi ties that bind them.  

See more: Prince Albert II traces the Italian branches of the Grimaldi family tree in Liguria

The event also allows interested locals and members of the public to discover towns and villages that might be new to them and make connections with residents from these destinations.  

In a weekend sure to be filled with unforgettable encounters, these communities will come together to share stories, traditions and customs, weaving a tapestry of memories and experiences that will leave a lasting impression on all involved. 

On the programme this year is a variety of folk dancing and live music performances as well as games, a petting farm and a very special sound and light show at 10pm on 15th June, which will see the façade of the Prince’s Palace illuminated with a story retelling “the history of the links between the invited towns and the Grimaldi dynasty”. 

See more: Monaco to celebrate its historical heritage with the Rencontres Grimaldi

The event is entirely free and open to all. For a complete rundown of the schedule as well as for practical information and backstories on the municipalities taking part, click here. 

Read related:

How the Grimaldis came to live on the Rock

 

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 credit: Frédéric Nébinger / Monaco Communications Department