Articles
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- Category: Products and Services
After completing his PhD in mathematics, Tommaso Mingazzini began his career with Deloitte in Milan. He now works in the management company GFG (Groupe Financier de Gestion), Monaco SAM as Risk Manager. At the latest event staged by the Monegasque Association of Financial Activities (AMAF), he had the opportunity to present the AAA (Active Asset Allocation) allocation model. Designed by GFGLAB, the quantitative department of GFG, the model makes it possible to invest systematically in the financial markets with the goal of maximising the risk-return ratio.
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Marc Sallé de Chou came to Monaco in September to head Crédit du Nord Monaco after a long career in the Group. We asked him about his first impressions of the financial centre.
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- Category: Interviews
Cumulating Caisse Nationale and Caisse Locale functions was the Monegasque feature chosen by Mr. Jean-Jacques Campana, Director of Caisses Sociales de Monaco, at our last interview: "It provides a good view of the problems at field level and enables fitting proposals to be made". Responsibility for the Caisses is enormous: 51,000 employees, 4,100 self-employed workers as well as 33,000 retirees and 23,000 eligible parties have to be managed. Developing the work resources and methods is thus essential.
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The Egmont Group organised a training session on strategic analysis from 23 to 27 October 2017 in Kuala Lumpur, Malaysia.
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On 11 October, an event was held in Munich, Germany, to promote "Destination Monaco." This event was organised by Monaco Tourist and Convention Authority (DTC), and brought together more than a hundred tourism professionals from the Bavarian capital.
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- Category: Living in Monaco
At a press briefing today, the Minister of State and Jean Castellini, Minister of Finance and Economy, gave an overview of the 2018 preliminary Budget (PB).
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- Category: Training
On Tuesday, in the presence of the authorities, the Minister of State, Serge Telle, received employees who had been awarded the Monegasque Professional Certification. This certification was instigated by the Prince's Government on the initiative of the Monegasque Association for Financial Activities (AMAF).
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Banks are currently facing a transformation unlike any their sector has ever seen. This phenomenon is rooted in the democratization of the internet, which occurred at the start of the 2000s and picked up pace in 2007 with the arrival of the first smartphone. The banking system needs to reinvent itself to integrate the new business paradigm which is emerging.
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- Category: Living in Monaco
Financial activities are one of the five pillars of Monaco's economy, with almost 116 billion euros in deposits and securities as at 31 March 2017. The sector is thus in good health, providing the state with increasing revenues which, in tandem with a sensible spending policy, has led to a balanced budget, and even a surplus.
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- Category: Legal Environment
Within the framework of Monaco's commitments to the OECD and the European Union, its banks have started making preparations to collect and submit information relating to the accounts of some of their clients, using an internationally accepted standard. At the last "Rendez-Vous Gordon S. Blair", Gilbert Delacour, associate and Managing Director, delivered a progress report on the implementation of the automatic exchange of information in Monaco and related practical requirements for banks.
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- Category: Training
The results are just in for the 1st intake of the Bachelor of Business Administration, Monaco Banking & Financial Services option, whose the new formula was introduced in September 2016: 12 out of 14 students passed. This particularly satisfactory outcome encourages the partners to repeat this formula in autumn term 2017. So, 13 candidates from around 20 applications have already been accepted for the coming intake.
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Since 1992, ACI Monaco - The Financial Markets Association has been committed to promoting the founding values which it shares with its worldwide federation. It supports the development of social and business relationships for Monaco-based financial sector workers, and promotes training programmes, and the implementation of best practice for the profession. Through its actions, ACI contributes to the development of the banking and finance sectors in Monaco.
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- Category: Legal Environment
Convinced that the Monegasque cyberspace, a vector of growth, must be a safe, lasting and reliable space, the Government of Monaco, via the Department of the Interior and the Monegasque Digital Security Agency (AMSN), has organized an information meeting for the Operators of Major Importance (OIV) of the Principality on the cyber risks and the legislative measures envisaged.
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The deputy secretary general of the French Prudential Supervision and Resolution Authority (ACPR), Mr Frédéric Visnovsky, spoke during the recent AMAF business lunch on the theme of the challenges facing the Monaco banking system and the role of the ACPR.
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- Category: Living in Monaco
The Association of Monegasque Financial Activities (AMAF) lies at the heart of the dynamics of the Principality's economy. The AMAF is essential to the development of the banking industry and oversees all the related institutions and companies.
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Filippo Colombo, Deputy Chairman, and Bruno Frateschi, Managing Director, are the two founders of VOLTYLAB "Investments & Partnership". Working with a limited number of partners, with total honesty, independence, and transparency is their company's aim.
