Compagnie Monégasque de Banque is proud to receive two prestigious awards from
The European: ‘Customer Service Private Bank of the Year’ and ‘Monaco Banking Ambassador 2017.’
The two awards recognise the bank’s continuous commitment to its clients and to support the local culture and community. The titles complement each other. Having a privileged relationship with international clients, who can rely on readily available, in-house experts to manage their wealth and investments – isn’t that the finest way to promote Monaco across the borders? This dual ambition has been at the heart of CMB since its creation, as well as maintaining the bank’s essential values as a market leader.
A bank focused on its clients
The quality of a private banking service depends to a large extent on knowing the clients, their personal financial goals and issues they are facing. A bank needs to be able to anticipate a client’s needs, offer advice and custom-made accompaniment. No client-bank relationship is the same, this is why it is crucial for a bank to be reactive and personalise their service to build a long-term partnership based on trust. That The European awarded CMB the ‘Customer Service Private Bank of the Year’ for the second year running, offers the bank much encouragement to continue on its path of excellence.
“The key to success is building relationships that go beyond one-time projects and provide value to these clients on a consistent, ongoing basis,” says Werner Peyer, CEO of CMB. “At CMB we use a proactive approach when working closely with individuals, families and companies. Together we try to find the best solution that fits the specific needs of each of our clients.”
This commitment can also be found in several of CMB’s development strategies. First, maintaining the level of expertise. Employees spend many hours in training in order to better assist their clients with all their concerns in an ever-evolving regulatory environment. Second, the bank offers each client group an environment to develop their projects and encourage personal and professional fulfilment. CMB created Investments of Passion, Next Generation and the Women and Finance Academy, which serve this goal of self-actualisation. The Philanthropy Academy is a new addition, aimed at creating synergies between the participants and philanthropic stakeholders in Monaco, a city-state known internationally for its humanitarian actions. It is to nurture this daily relationship that CMB operates in Monaco, near its clients and in the heart of a place that it has embodied for over forty years.
A bank has rarely been this closely connected to its place of birth, Monaco. Over the last four decades the story of CMB and the Principality of Monaco have been intertwined and created for all the players a favourable environment to set-up and roll out innovative projects. CMB was created and has grown within the Principality, possessing its own subsidiary, Compagnie Monégasque de Gestion (CMG), dedicated to fund management, where committed fund analysts and managers work together on a daily basis.
Since its inception, CMB’s development has been in sync with the development of Monaco’s financial centre. On one hand, CMB has put its efforts into the development of private banking services in the Principality and has always been committed to supporting the development of the financial place. On the other hand it allows its clients to benefit from the advantages and characteristics of the Principality and assist with their investment projects. CMB is a leader in funds created under Monegasque law offering investors a highly diversified range of services.
It is this proximity, which guarantees an essential characteristic of a private bank – its reactivity. This allows clients ongoing access to their personal account managers. The local origins, the stability of the management and the desire of the bank to maintain a relatively small size also allows CMB to have rapid decision and approval cycles. This reactivity and the ability to keep a steady dialogue with its clients is one of its founding values and are fully in line with the Monegasque traditions of hospitality and transparency. The diversity of CMB’s clientele is a natural illustration of the diversity of the bank’s employees. More than 20 nationalities coexist within the institution, which takes advantage of this wealth of culture to operate across all the world’s financial centres.
The strength of a relationship lies in the ability of an institution to anticipate its clients’ needs by providing them tailor-made advice and support at every stage of their projects. Because of its structure, independence and size, CMB is naturally committed to this approach working alongside its clients, their families and their advisors.
CMB is an official partner of the Monaco Pavilion at the World Expo 2017 in Astana, Kazakhstan. The Expo is being organised under the theme ‘Future Energy’. This, along with the three sub-themes – ‘Reducing CO2 Emissions’, ‘Living Energy Efficiency’, and ‘Energy for All’ – will allow the Expo to present the state of energy today and to showcase sustainable solutions and innovative technologies.
CMB’s participation in this international event is consistent with Prince Albert II of Monaco’s goals of making the Principality a forerunner of sustainable development, innovation and responsibility.