Following the shock departure of Claude Palmero in 2023, Salim Zeghdar, appointed acting Administrator of the Prince’s Assets, has been officially elevated to the key role by Sovereign Ordinance.
It is official. Salim Zeghdar has become one of the most powerful men in Prince Albert’s inner circle.
After accepting an acting role on 7th June 2023 following the controversial ousting of Claude Palmero, Salim Zeghdar was appointed Administrator of the Prince’s Assets (l’administrateur des biens) by Sovereign Ordinance No. 10.283, published in the Journal de Monaco on 22nd December 2023.
At the same time, Valentina Franco was appointed Assistant (Attaché) to the Administrator of the Prince’s Assets, effective 1st January 2024.
Who is Salim Zeghdar?
Salim Zeghdar was born 8th August 1970 in Monaco. On Friday 5th July 2019 in the Journal de Monaco, it was confirmed that Zeghdar had been naturalised as a Monegasque citizen.
The 53-year-old is a well-known local figure, most notably as deputy president of the luxury trade show Top Marques, as well as managing director of Monaco Live Productions, and most recently as general director of the newly-launched TV Monaco.
Salim Zeghdar’s role now is to manage the personal fortune of the Prince, the Princely Family, and that of the Sovereign House.
The controversy continues
Claude Palmero, 67, was a key figure in the Palace for 22 years, first serving under Prince Rainier III and then his son, Sovereign Prince Albert II.
After becoming embroiled in the so-called ‘Rock Files’ (Dossiers du Rocher), a series of unverified leaked documents alleging corruption at the highest levels, Palmero was relieved from his position on 7th June 2023.
Claiming innocence, Palmero lodged an appeal against his dismissal with Monaco’s constitutional court, known as the Supreme Tribunal, on 13th July, seeking one million euros in compensation and his reinstatement. His case was rejected. Palmero has since indicated that he will take his case to the European Court of Human Rights.
Meanwhile, Prince Albert, together with his sisters Princess Caroline and Princess Stephanie, are reportedly taking legal action against Palmero.
In an interview with Monaco Matin in November 2023, the Prince said that an audit had been conducted on the ‘Sovereign Household’ following Palmero’s sacking, prompting the Princely family to file a “criminal complaint”.
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Photo of Salim Zeghdar at the press launch of Top Marques in 2023, by Monaco Life