Banque Havilland (Monaco) has entered into exclusive negotiations with a new consortium of high-profile investors, including former Formula 1 team owner Eddie Jordan. following the decision by Andbank Monaco not to proceed with its previously announced acquisition offer.
According to a statement by Banque Havilland Monaco, the new investment group is headed by Martin Gilbert, Chairman of Revolut Bank, and corporate financier Ivan Murphy, a long-term Monaco resident. The consortium also includes notable figures such as former Formula 1 team owner Eddie Jordan, Dutch industrialist Bart Duijndam, and Christopher Murray, a shareholder in Monument Bank. The investor group aims to reinforce the bank’s balance sheet and expand its private banking operations in Monaco.
This consortium, made up of both international and Monaco-based entrepreneurs, has expressed its commitment to securing the bank’s future. “We are delighted to have the opportunity to acquire Banque Havilland (Monaco) SAM and to restore the trust of its loyal clients and staff,” said Ivan Murphy, Executive Director. “We are excited to work with the existing team to close this transaction and move forward to build a strong traditional independent private bank in Monaco.”
The development comes after Andbank Monaco submitted a non-binding offer for the purchase of Banque Havilland Monaco. In a press statement on Monday, Andbank Monaco said that it had pulled out of the deal: “On August 21st, Andbank Monaco SAM announced the submission of a non-binding purchase offer for Banque Havilland (Monaco) SAM, subject to the completion of audit work and due diligence. Following this analysis period, Andbank Monaco SAM decided not to proceed with the transaction and will not submit a purchase offer for Banque Havilland (Monaco) SAM.”
The deal between Banque Havilland (Monaco) and the new consortium of investors is expected to be completed by the end of the year, subject to regulatory approval.
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