Andbank Monaco SAM was created on 1 July 2011 when the Andbank Group wanted to expand its offer dedicated to high-end international Private Banking clients. We meet Mr. Gérard GRISETI, CEO & Partner, at the head of this discreet but very efficient bank.
Ten years of presence in Monaco is important...
Especially as our ten years in the Principality coincide with the Group's ninetieth anniversary in Andorra! Monaco is a place that is perfectly suited to offering high quality services, which is what we like. We share a common set of values with the Principality: solid growth, stable governance and openness to a highly internationalised world. Monaco's banking and financial environment is attractive to high net worth clients. All these reasons, combined with the quality and loyalty of our staff, have enabled us to enjoy ten years of profit and growth...
Is the Andbank Group specialised in Private Banking?
Yes, since its creation. Andbank is established in a dozen countries, mainly in Europe and Latin America, and today has over a thousand employees. We work on long-term solutions to enhance the value of our clients' assets and our offer is constantly adapted to their future needs. We spend time with our clients and provide them with a fully personalised service. We listen to their expectations and adapt our management to their wealth objectives, our aim being to ensure the sustainability and growth of their wealth over the long term. Our relationship with time is very important. We are a private banking group, owned by families, we are not listed on the stock exchange, so we are not under constant pressure from markets, rating agencies and institutional investors. We build and develop our relationship with our clients over the long term. Private Banking is not just one of the Group's activities, it is its unique business and part of our DNA.
As a Monegasque bank, what is your added value?
As a result of what I have just said, one of our characteristics is that we manage our clients' portfolios in a very conservative way, with a permanent objective of capital preservation. In this way, we seek to obtain the best return in a context of moderate volatility. This management strategy implies a great deal of flexibility in the choice of investments, as our managers can make arbitrages in terms of asset allocation at any time, according to their own view of the markets.
Andbank Monaco has more than 50 employees, and we offer a very complete service: trading room, portfolio management and investment advisory team, credit department, securities services ... everything is on site, which is very comfortable for clients. Their portfolios are managed by a dedicated team of financial market professionals, experts who select the most suitable investments for their profiles. And the portfolio allocations are constantly adapted and adjusted, depending on market conditions.
Finally, one of our major strengths is Monaco! We are "Ambassadors" of the Principality, its stability, its economic dynamism and the Monegasque financial industry.
Financing and credit activity is constantly increasing in Monaco and we are actively contributing to this. The number of Multi-Family Offices is constantly growing. We are seeing an increasing weighting of professions focused on asset management and engineering... The dynamism of the "Finance cluster" is very positive for our clients!
We like to define ourselves as "a family bank serving families and entrepreneurs". A sort of "multi-family office bank". Although we are not the best known group in the international private banking sector, if clients come and stay with us, it is because of the human dimension and the quality of the personalised service that we strive to offer them.