Banque Havilland Monaco changes owners to become Moncrief Private Bank
© Banque Havilland
A consortium of international investors has formally announced its acquisition of the Monegasque bank, which will be renamed in the fourth quarter of 2025.
The acquisition of Banque Havilland (Monaco) SAM by a consortium of international investors has officially received regulatory approval, in a new chapter for the financial institution. It will be renamed Moncrief Private Bank (Monaco) SAM in the fourth quarter of 2025, becoming the only independent private bank based locally in the Principality.
The transaction, which has been approved by Monaco’s Commission de Contrôle des Activités Financières (CCAF – Financial Activities Oversight Committee) and France’s Autorité de Contrôle Prudentiel et de Résolution (ACPR – Prudential Oversight and Resolution Authority), puts an end to a period of uncertainty for the bank lasting several months. The acquisition comes after previous negotiations fell through. Announced in September 2024, in particular with an initial consortium that included Martin Gilbert, Chairman of Revolut Bank, they were ultimately unsuccessful.
Tech profiles modernising traditional finance
The new consortium includes three experienced entrepreneurs in the fields of fintech and wealth management. Jason Bates, co-founder of UK neo-banks Monzo and Starling Bank, brings his expertise in digital banking innovation to the table. He is joined by Maksym Koretskiy, a Ukrainian investor specialising in financial technologies, and Jim McColl, a Scottish businessman who has lived in Monaco for over two decades. Their alliance reflects the new owners’ strategy of combining traditional wealth management expertise with the latest technological innovations in the financial sector.
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Guaranteed continuity for customers
The new management team was reassuring about the stability of existing services. Patrick Dauguet, Managing Director of Moncrief Private Bank, said in a press release that there would be no interruption in service for customers, with the teams of advisers and the product range remaining unchanged for the time being. “The combined expertise of the new owners will not only bring more stability and excellence to the business, but their vision for a new digital offering in the region will bring added value to our clients over the coming years,” added the Managing Director.