Monaco, MC
clear sky
9 ° C
13 °
5 °
12 °
11 °
15 °
17 °
14 °
Breaking News

Transport disruptions expected to continue as union strikes roll on throughout France

CFM Indosuez Wealth Management sells fraction of Monaco business

CFM Indosuez Wealth Management sells fraction of Monaco business

By Staff Writer - January 20, 2017

Mr Werner Peyer has been Managing Director of the Compagnie Monégasque de Banque since 2010.
Mr Werner Peyer has been Managing Director of the Compagnie Monégasque de Banque since 2010.

UPDATED 4:30 pm: CFM Indosuez Wealth Management has sold a fraction of its business in the Principality of Monaco, namely clients resident in African countries, to Compagnie Monégasque de Banque (CMB).

This agreement is in line with both CFM Indosuez Wealth Management’s proactive approach to limit client relations to residents of countries participating in AEOI (Automatic Exchange of Information) and with Indosuez Wealth Management group’s strategy to refocus its positions with clients in its key markets.

AEOI entered into force in Monaco on January 1, 2017.

With this transaction, CMB, the Monegasque private bank founded in 1976, welcomes eight highly skilled employees that will support and complement the bank’s international wealth management desk.

“We are very lucky for this great addition to the team, it allows us to get new perspectives on market opportunities” states Werner Peyer, CEO of CMB.

CMB has made all the necessary arrangements to ensure the smooth integration of customers and their advisors into the new organisation.

“Clients will profit from an excellent quality of service and will benefit from the solidity and deep roots of the bank within the Principality,” adds Federico Limiti, Head of Private Banking at CMB.

Having received the awards of “Best Private Bank” and “Best Customer Service Bank” in Monaco 2016 by the financial magazines the Financial Times and Thomson Reuters groups, the bank has now been able to reach €11 billion of Assets Under Management.

Article first published January 20, 2017.

READ ALSO: HSBC shutting down Monaco private bank, clients to transfer to CFM Indosuez
READ ALSO: Credit Suisse Monaco sale complete

Previous articleSolar pilot hopes to convince Donald Trump
Next articleMonaco takes international security threat seriously


December 9, 2019 | Business & Finance

Markets weekly


The outcome of Thursday’s UK general election will be a key talking point for markets near the end of the week, with a Conservative Party majority largely priced in financial markets.

December 5, 2019 | Business & Finance

YPO elects Economou as chairman

Cassandra Tanti

Monaco-based Anastasios (Tassos) Economou has been elected chairman of the Board of Directors of YPO, a global leadership community for chief executives. It was announced earlier this week that Economou will be the 69th member to hold this office and will succeed current YPO Chairman Elizabeth Zucker. He will begin his term on 1st July 2020. A member […]

December 4, 2019 | Business & Finance

Major step in green tech fund creation

Cassandra Tanti

Chinese Academy of Sciences Holdings Co., Ltd. and Innovator Capital Limited have signed a Cooperation Agreement, marking the next step in the process of setting up their joint venture. The JV, with Innovator Capital’s Sustainable Finance & Investment Corporation, will comprise a green technologies innovation fund and a transfer platform. The fund, which was first […]

December 3, 2019 | Business & Finance

Monaco explores eco-real estate tech system

Cassandra Tanti

Monaco will benefit from a ‘Real Estate Tech Innovation Program’ that is being developed in partnership with the ESCP Europe Business School in Paris. Prince Albert discussed the research program during a visit to the school last week, where he was also given an Honorary Doctorate Award for his environmental commitments. On Tuesday 24th November, […]