At her first meeting with the Monegasque press, Bénédicte Chrétien, Chief Executive of CFM Indosuez Wealth Management, flanked by Sophie Armando, Deputy Chief Executive, Sophie Couve de Murville, Global Head of Advisory, Jad Bardawil and Vincent Cartillier, Co-Heads of Wealth Management, outlined the six pillars underpinning the Monegasque bank’s new strategy. This roadmap combines the strength of a major group, local expertise, managerial transformation and international ambition, guided by a single principle: putting the client back at the heart of the model.
The first pillar of this new strategy is to evolve the organisation towards a genuine ‘advisory architecture’, with the private banker taking the lead. It is the banker’s role to coordinate increasingly specialised areas of expertise: finance, property, insurance, investments, wealth engineering and succession planning.
This approach responds to the evolving needs of an increasingly international and multi-jurisdictional clientele, who seek both ‘visibility, stability and proximity’ and comprehensive solutions. The wealth engineering and life insurance team thus comprises nine experts based in Monaco, working together to deliver a 360-degree approach.
The sales force comprises nearly 60 private bankers, with an average age of 45, 40 per cent of whom are women. This team is further bolstered by access to Indosuez Wealth Management’s 15 geographical markets and the expertise of the Crédit Agricole Group.
CFM Indosuez also boasts Monaco’s largest trading floor, comprising around 50 multilingual experts who speak six languages and have an average of 18 years’ experience in the financial markets. Internationally, the investment teams comprise some 150 professionals. The bank also highlights 25 years of expertise in private and unlisted markets, as well as an execution system providing market access from 8.00 am to 10.00 pm via its Luxembourg office. A tangible sign of this approach is that the investment advisory services boast a 95 per cent satisfaction rate.
This structure is accompanied by a managerial transformation and a commitment to fostering greater proactivity amongst the teams. The aim is no longer simply to execute, but to identify opportunities, propose solutions, anticipate risks and deliver greater value creation at key moments in clients’ lives.
Bénédicte Chrétien situates this evolution within what she considers to be the very foundation of the banking profession: the duty of loyalty, which is reflected in the duty to advise.
Added to this requirement is a clearly stated commitment: that of ‘humans enhanced by technology’. Technology and artificial intelligence are set to become the norm; they enable us to enhance analytical capabilities, automate certain processes and optimise portfolios. But what sets us apart lies elsewhere: in the banker’s ability to understand the unspoken, the implicit, the context and the unique history of a family.
CFM Indosuez therefore aims to combine technological power with human intelligence, serving a bank that employs 400 staff in Monaco and is the Principality’s leading employer in the financial services sector.
This strategy also rests on a profound evolution in governance. The Executive Committee has been 80 per cent renewed, whilst also becoming younger and more diverse in terms of gender representation. For Bénédicte Chrétien, this diversity of profiles, experiences and skills allows for the exchange of perspectives and constitutes, in itself, a quality of governance.
Diversity is also cultural. The Wealth Management teams bring together nearly twenty nationalities and a dozen foreign languages. They serve a client base extending far beyond Monaco, from French Polynesia to New Caledonia, from Latin America to the Middle East, via the United Kingdom, Northern Europe, Switzerland and South Africa.
This international dimension does not detract from the firm’s roots: on the contrary, CFM Indosuez embraces this dual identity – deeply Monegasque in its history and international in its teams and clients.
Out of 25 banks, CFM Indosuez is the only one that is listed. Bénédicte Chrétien highlights this as a genuine competitive advantage, particularly with wealthy families and entrepreneurs.
Listing imposes discipline, financial transparency and stringent governance requirements, including a Board of Directors, an Annual General Meeting and the presence of independent directors. These are all factors likely to bolster the confidence of high-net-worth clients who are particularly attentive to the financial soundness of their bank.
This position also fuels CFM Indosuez’s ambition to play a consolidating role in the Monaco financial centre. The integration, in March 2026, of BNP Paribas Monaco’s Wealth Management client base is the latest example of this. The transaction also saw 37 BNP Paribas staff members join the bank. CFM Indosuez aims for this integration to be exemplary in terms of smoothness, continuity and quality of service.
With a 104-year history in the Principality, CFM Indosuez defines itself as the bank for families and entrepreneurs. This long-standing presence enables it to build relationships spanning several generations and to approach wealth management from a long-term perspective.
The ambition, as summarised by Vincent Cartillier, is clear: to be “the family’s bank, not just that of a single generation”. This involves getting to know not only the clients but also their children, understanding the aspirations of the new generation, and supporting clients through the various stages of their financial lives, both private and professional.
The international dimension is the other aspect of this strategy. The bank highlights, in particular, the growth of its Anglo-Saxon client base, its presence in Brazil for over 20 years, and the strong momentum observed in the Middle East.
One figure in particular illustrates the loyalty claimed by the bank: its recommendation rate stands at 50 per cent, meaning that one in two clients has recommended the bank to a friend or family member.
This track record is also recognised internationally: CFM Indosuez Wealth Management has been named “Best Bank” for the 10th consecutive year by the international magazine Global Finance. Beyond the award itself, it is this consistency that testifies to the strength and stability of the business model.
The final priority, and undoubtedly the most forward-looking, is to make CFM Indosuez ‘the Bank of Meaning’. Wealth management is facing three major transformations: the Great Wealth Transfer, the arrival of the Next Gen and the rise of Women in Wealth, which are gradually changing expectations regarding wealth management.
By 2030, 30 per cent of global wealth is expected to change hands. Fifty per cent of this transfer is projected to take place in the United States, 25 per cent in Europe and 25 per cent in Asia. At the same time, the share of global wealth held by women is set to rise from 31 per cent in 2015 to 41 per cent in 2026.
These new wealth holders are no longer seeking merely security and returns. They are increasingly questioning the impact of their investments, how well they align with their values, and the long-term legacy they will leave behind.
CFM Indosuez channels this search for meaning through a number of commitments. With regard to the blue economy, the bank points out that it launched its CFM Indosuez Sustainable Development offering as early as 2003 and has, for several years, been developing initiatives linked to ocean conservation and the blue economy. Over the last five years, these initiatives are reported to have raised around 100 million euros and channelled 600,000 euros to various projects. The bank is also committed to sustainable property and boasts an ambitious and proactive policy on environmental certification.
The third area is that of education and culture, notably featuring a 27-year partnership with the Ballets de Monte-Carlo, as well as commitments to the New National Museum of Monaco, Pink Ribbon Monaco and organisations working in education and health, such as AMADE and Fight Aids.
CFM Indosuez has a threefold ambition: to become a leading bank for both its clients and its staff, whilst consolidating its role as a key player in the Monegasque financial centre. This strategy combines the strength of a major international group with the personal touch of a century-old institution, serving families and supporting the transfer of their wealth.
Photo : @Olivier Remualdo
