Local private bank CMB Monaco has announced that it will continue to allow its employees to work from home even as Covid restrictions are being lifted, giving workers flexibility and lessening overall stress.
CMB Monaco was one of the first banks to react at the start of the pandemic by creating a telework programme so that the chain between clients and bankers was unbroken. The vast majority of the bank’s 265 employees were working in this manner throughout the health crisis.
Now that the worst seems to have passed, the bank has decided to carry on using this method of working in a post-Covid environment, extending the offer to 64% of their employees to work from home one or two days per week.
The decision to embark on this experiment was based on several factors. First, the bank’s clientele became accustomed to communicating remotely with their financial advisors. This new comfort factor has allowed the bank to give customers the same experience and service, but now in a different way.
The second is that employees have found telecommuting to be more productive and generally less stressful. Commutes take their toll mentally and eliminating them a few days a week has been found to boost concentration, making for an overall better work-life balance.
The final reason is in line with the philosophy of the Principality. This is the environmental impact of fewer commuters on the road. The reduction in pollution caused by employee’s cars as well as the lessening of road traffic combine to be a significant benefit to the environment.
CMB’s Chief Executive Officer, Francesco Grosoli says he is “convinced that we are facing a radical change and a key turning point. It is utopian to think that we can and should go back to business as usual before the pandemic.” He added that, “We have been able to reinvent ourselves and even achieve excellent results in a tumultuous and unprecedented period. It is now up to us to reinvent tomorrow’s world of work together.”
More than 150 entrepreneurs have joined the Monaco Economic Board for its General Assembly and Rendez-vous des Members,where past successes and future plans were shared.
Monaco Economic Board (MEB) members, institutional partners and local personalities including Minister of State Pierre Dartout and Minister of Finance and the Economy Jean Castellini came together on 7th July for the Ordinary General Assembly of the Monaco Economic Board and a meeting of members that followed, marking “the great reunion” after a year marked by the Covid-19 pandemic.
“In this context of health crisis, the MEB has been able to adapt, with the desire to support its members in their activities, especially those who have been most affected, and to continue its mission of promoting the Principality,” said MEB president Michel Dotta.
While the year 2020 started out with a bang with a mission to Russia and the signing of a cooperation agreement between the MEB and the CCI of the Novosibirsk Region, several trips were canceled due to health restrictions in Paris, Rome, Salzburg, Barcelona and London, as well as promotional operations organised with Monaco’s ambassadors and consuls abroad.
The MEB did manage to get in some missions to Lisbon, Mexico City and London before the pandemic hit, as well as in Serbia for the signing of a memorandum of understanding between the MEB and the ICC of Serbia, as part of the official visit of HSH Prince Albert II. Photo of MEB General Assembly 2021
In local operations, the MEB has tested new formulas such as business breakfasts organised around the accreditation of Ambassadors in the Principality, small gatherings which will be repeated in the coming months. Meanwhile, the MEB’s traditional conferences brought to the Principality the expertise of the “stars of the economy” – Chief economist of Coface Julien Marcily, President of the Cahiers verte de l’Economie Jean-Pierre Petit, Chief economist of the Groupe Allianz Ludovic Subran, and Sophie Vincent, Director of IMSEE.
In presenting the year’s events, Guillaume Rose said that the MEB had adapted quickly during the pandemic and utilised digital technology to offer various “MEBinaries” to its members, covering topics such as finance, international trade, energy transition, real estate, tourism and yachting, or business destinations like Kazakhstan and Italy. The MEB also joined forces with Extended Monaco, the Principality’s digital transition program, and the FEDEM to organise digital workshops. 2021: New horizons
According to the MEB, the year 2021 started at the same sustained digital tempo, but it was marked by the return of face-to-face events with star forecaster Christophe Barraud. The MEB will soon participate in several major events, including the Monaco Yacht Show, and Monaco Business during which a partnership agreement with the Italian CCI in Nice will be signed.
December will see the Ambassadors of Destination Monaco forum and gala in Italy which will welcome many delegations from countries including Quebec, Austria and South Korea. 2021 will also mark the 10th edition of the Eco Trophies, which celebrates the talents of local entrepreneurs.
For its next missions, the MEB has given priority to Europe. Upcoming trips will be organised in Florence, Antwerp, Milan, Saint Petersburg, and Amsterdam.
Meanwhile, Dubai will be given extra attention. “During the six months of the Dubai World Expo, several sector missions and at least one generalist will be organised in partnership with the Monaco Pavilion and the Dubai Chamber of Commerce,” said Guillaume Rose.
At the end of the General Assembly, marked by the appointment of a new female steering committee, Finance and Economy Minister Jean Castellini recalled in his speech how the crisis has revolutionised the way people work and communicate in the public and private sectors, saying: “We had to innovate and adapt constantly. We must learn from the consequences. We must continue to act together, as we did in an emergency and in the interest of the country, and not fall back into old habits. ” 38th Rendez-vous des Members 38th Meeting of Members
MEB members then headed to the Mediterranean Gardens of Monte-Carlo Bay where the 38th Rendez-vous des Members took place – for the first time since January 2020. More than 250 economic players in the Principality were able to network during the evening, while several dozen contacts or appointments were made by the MEB team. During this meeting, Michel Dotta and Guillaume Rose also highlighted the Green Fund, which aims to finance the energy transition of local businesses. Finally, they paid tribute to Stéphane Giaccardi, who has departed the steering committee after 16 years as secretary general.
Monaco Life with MEB press release, photos by MEB
Clean Equity conference to focus on sustainable tech
Clean Equity Monaco, an invitation-only conference showcasing the best new sustainable technology companies, is returning to the Principality this month to wow investors and get the word out on what they’re doing to change the world.
Hosted by Innovator Capital Bank and the Principality of Monaco, Clean Equity is back on 22nd and 23rd July and opening its doors to 30 up-and-coming sustainable technology companies who will be presenting their ideas and products to financiers who may be able to make their dreams realities.
The chosen companies are given the opportunity to present to and meet with prominent corporate, financial, strategic, sovereign and family investors, as well as government officials, end users, trade media outlets and known industry representatives in a bid to raise funds to take their visions to the next level.
Companies send two representatives and are each allotted a 20-minute presentation as well as a question-and-answer period to expose their projects to the right investors. This is further strengthened by networking sessions, lunches, workshops and a gala dinner that ends with the best of the best be chosen for the Clean Equity Awards.
The awards, which are created by renowned artists, are presented by Prince Albert II and are given for excellence in three areas, namely research, development and commercialisation.
This year’s event will expand on last year’s with a vast audience joining the conference via live streaming brought by partner EarthX. They are looking to top last year’s online attendance, which hit 25,000 people.
Since the expo was founded 13 years ago, they have been able to introduce and nurture more than 350 companies who have gone on to raise more than $2 billion in capital.
Start-up incubator MonacoTech has stepped up its support for young innovative companies with its new FabLab, a scientific laboratory that will help with the formation of prototypes and PoCs in everything from marine biotechnology to medical devices.
The FabLab was designed and set up to enable MonacoTech start-ups to carry out innovative and concrete work necessary for their development, mainly in the fields of biology, health and electronics.
The laboratory will allow for experimentation and a convergence of knowledge for PoCs (Proof of Concept), but it can also be used for prototyping and developing products and processes. It will allow startups to design, create, assemble, test, improve and use their prototypes.
“The FabLab acts as an accelerator of opportunities for the promoters of innovative projects, it is a place of manufacture itself,” said MonacoTech in a statement. “But above all, it is a collaborative space open to a community in order to realise a concept, to bring an idea to life. It is a place of innovation and knowledge sharing in favour of pooling skills, equipment and the emergence of collaborative and transdisciplinary projects resulting from innovations by MonacoTech startups.”
The lab is organised into two areas: the “wet” area for work particularly on cells, and the “dry” area for other activities.
The FabLab is currently being used by three startups: Surgisafe, which is developing an intelligent suction cannula capable of immediately detecting abnormal or cancerous tissues during a surgical intervention, Coraliotech, which is producing innovative molecules from coral organisms for cosmetics and in the medical sector, and Novetech Surgery, which is creating innovative orthopaedic implants for use by veterinary surgeons.
The FabLab has everything needed, from ventilated cabinets for chemicals and a C02 incubator for cells, to a fluorescence microscope and spectrophotometer. The fleet of equipment will evolve with the projects and new activities.
The laboratory complements the range of services already offered within the MonacoTech incubator and it expects to attract some serious new projects thanks to the addition.
“This should allow new startups to find in MonacoTech the conditions for the development of their projects, but also to bring out new innovations, and to promote the knowledge and know-how of the Monegasque ecosystem.”
Photo credit: MonacoTech
Custom racing helmets going under the hammer for charity
A collection of custom-made racing helmets painted by renowned artists are going on the block at the Prince’s Car Collection to raise money for the children’s cancer hospital in Nice.
In an event organised by the Monaco Liver Disorder Association, and under the patronage of Prince Albert II, 90 custom-painted racing helmets will be going up for auction by Artcurial on Saturday 17th July at 5pm. The event will take place live at the Collection des Voitures de SAS le Prince de Monaco at Les Terrasses de Fontvieille.
The unique collection features helmets that have been turned into incredible works of art by come of today’s most inspiring artists. Some have simply been beautifully painted for effect whilst others have been transformed into something akin to sculpture.
For example, Charles Bataille has turned a helmet into a smiling fish in his Poisson-clown monécasque design, while D.H. Zimic’s La Princesse aux ours features cuddly toys clambering up the sides.
The entire collection can be previewed at the Collection des Voitures de SAS le Prince de Monaco at Les Terrasses de Fontvieille from 15th to 17th July.
Artcurial has a full listing of the helmets up for grabs, all of which have starting bid prices of €800. Those interested can watch or bid live on the house’s website, www.artcurial.com or bid live at the auction site. All proceeds benefit the department of Neonatology and Haematology and Paediatric Oncology at Archet II Hospital in Nice.
Revealed: New 'Grace de Monaco' brand, all proceeds go to the arts
It was a heavily veiled secret as the Princess Grace Foundation USA called philanthropists and exclusive media to the Hôtel de Paris courtyard on Friday evening. The vibrant, live display set the scene for what promised to be a big reveal.
And it was. Grace de Monaco – a worldwide icon and forever Monaco’s sweetheart, is now a global brand that is setting a new standard at the intersection of luxury and philanthropy, an important new chapter in her iconic legacy.
“Even when she passed away, Grace had so many long-term relationships with Cartier, Mont Blanc, Dior, who were all continuing to create incredible products around her brand,” Brisa Carleton, CEO of the Princess Grace Foundation USA, tells Monaco Life. “This is a continuation, but it was important to the Princely family to make sure that her story was being told.”
The first in the Grace de Monaco line of sustainably-produced luxury products is a signature fragrance, Promenade sur le Rocher, presented on Friday to her son, Prince Albert II of Monaco. Photo of Prince Albert receiving a bottle of the Grace de Monaco perfume, by Gaetan Luci, Prince’s Palace
“I was a bit nervous working for this project because Princess Grace is such a legend,” perfume creator Olivier Cresp reveals to Monaco Life, “but I knew that she really loved roses, so I mixed a duo of roses from Grasse and Bulgaria, quite powerful, feminine roses of excellent quality, and I added jasmin from India. That’s the classic, timeless fragrance. Then, in order to make it more avant-garde, I used fractions of patchouli and musk, and added warmth with some vanilla. And that’s it – a very minimalist, natural and modern fragrance that I am sure is going to be a great success.”
It is certainly an intoxicatingly romantic blend encased in an equally exquisite bottle, the design of which was kept secret even from the perfumer himself until this evening. Beautiful, dramatic, artistic … just as Princess Grace would have had it.
“When the foundation got in touch and asked if I could do something for them, of course I was deeply honoured, because Princess Grace is so iconic,” says bottle designer Jérôme Faillant-Dumas, who has worked for the likes of Chanel and Yves Saint Laurent. “I thought to myself, ‘Ok, if she were alive, what would she love to have for herself?’ So, I gave the bottle some haute couture spirit – golden ‘jewellery’ with a jasmin flower, frosted straight lines that must be done by hand on each bottle. The box also has embossed flowers – it is all very haute couture.” Photo by Gaetan Luci, Prince’s Palace
The Grace de Monaco brand was inspired by the luxurious setting and timeless feeling of the French Riviera, and through this new initiative the Princess Grace Foundation aims to inspire and educate a new generation about her legacy.
The perfume had its soft launch in Monaco to give the local community time to “connect” with the brand, says Brisa Carleton, ahead of its global launch next year.
“We chose to start with a fragrance because it is less about a product and more about a sense and a feel, so people can start feeling Princess Grace here again. Then we will move into other very limited product lines. We will always be ultra-luxury and highly curated, very exclusive products as is appropriate for an icon.” Photo of Christopher Le Vine, Brisa Carleton, Prince Albert and John F. Lehman, Chairman Princess Grace Foundation-USA, by Gaetan Luci, Prince’s Palace
Brisa Carleton was brought in as CEO two years ago to usher the Princess Grace Foundation USA into a new era and explore alternative business models. Much of that time has been impacted by the Covid pandemic.
“That is partly what inspired us in doing this now, there has never been more of a need to fund the arts,” says Brisa Carleton. “We are excited to be blazing a new trail that will hopefully create a recurring revenue stream so that in ups and downs, the arts can continue to be funded.”
Uniquely, 100% of the proceeds of the Grace de Monaco brand go to the Princess Grace Foundation USA’s charitable activities.
“This brand is wholly owned by the foundation, so it really is luxury for good in every sense of the word,” says Brisa.
To finish the spectacular launch, Prince Albert had these words:
“It is my hope that you will support this project and serve as its ambassadors around the world. Please help us to ensure this endeavour thrives so that tomorrow’s extraordinary artists can achieve their dreams.”
For more information, visit the website: https://gdmonaco.com/en
