We are pleased to announce that Banque Richelieu Monaco has been recognized by Euromoney in two categories:

• Monaco’s Best Pure Play/Boutique Private Bank
• Monaco’s Best for UHNW

The Euromoney Private Banking Awards are the leading accolades in private banking and wealth management, acknowledged across the global industry.

For over 20 years, these awards have honored banks that have truly excelled in providing their clients with the best possible advice, services, and solutions.

Once again, our outstanding momentum, the relevance of our business model, and our communication efforts have been rewarded.

Best for UHNW: Banque Richelieu

Banque Richelieu excels in serving super-wealthy individuals and families.

Ultra-high-net-worth (UHNW) clients with over €30 million ($32.7 million) in assets under managementaccount for 38% of the bank’s client base, while those with €10 million-€30 million in AUM making up aquarter of the base.

The bank delivers pragmatic and swift decision-making, adapting to cultural differences via a team covering 12 nationalities, collectively fluent in 10 languages. Key areas of expertise include wealth management, alternative investments, discretionary portfolio management, private banking lending solutions and private equity.

Clear, high-quality reports and transactional facilities are accessible online to clients, while data handlingand operations have been transformed by improving the core banking system.

Best pure play / boutique private bank: Banque Richelieu

Banque Richelieu stands out for its boutique private banking services in Monaco, in particular its strong financial growth and wide-ranging discretionary portfolio management (DPM) offering.

Assets under management grew by 19% in the first half of 2024 to reach €4.3 billion ($4.68 billion), while itsloan book expanded 6%, to €879 million, during the awards period.

As part of its DPM offering, the bank holds a monthly group investment committee and a weekly support selection and analysis meeting, and publishes a quarterly newsletter. The DPM team includes the chief investment officer, a group strategist and several portfolio managers.

The team also welcomed relationship manager number 100 during the review period.

The bank offers bespoke DPM mandates and solutions for clients with a minimum of €3 million, allowing them to define their investment objectives and develop a strategic portfolio allocation with specialists. They can choose from a range of products including bonds, equities, alternative assets, structured products and commodities.