Monaco / Gulf countries: Connecting two hubs of global attractiveness

Francesco Grosoli, CEO of CMB Monaco, analyzes the synergies between the Principality and the Gulf countries. At the heart of his vision: two unique territories, built on stability, excellence, and attractiveness, that still have much to build together.

Q: Francesco Grosoli, what ties do you see between Monaco and the Gulf countries?

F.G.: There is an obvious connection between Monaco and the Gulf countries that remains underexploited. These two territories share common fundamentals: security, stability, quality of life, a controlled tax environment, and a unique ability to attract talent and wealthy families from around the world. Like Monaco, the Emirates have overcome their geographical constraints to build a model oriented towards international reach and excellence.

In the past, the natural meeting points for these clients were London, Geneva, or Cannes. Today, Monaco has also become an essential crossroads. This summer, the Principality welcomed an especially strong presence of Gulf nationals. What was once merely a stopover for them is now becoming a place where they want to stay, invest, and return.

Q: What strikes you most about the evolution of this region?

F.G.: One perceives a constant determination to innovate, anticipate, and elevate the client experience. During my many visits to Qatar, Kuwait, and Bahrain, one red thread stood out: nothing is left to chance. Services, urban planning, governance…everything is designed with excellence in mind. This resolutely service-oriented approach resonates strongly with us as a private bank.

Q: Concretely, what do you want to build between Monaco and the Gulf?

F.G.: Monaco is a strong brand, but its position as a financial center remains relatively underrecognized in the Middle East. We therefore need to work in depth to make it a credible alternative to Switzerland or the United Kingdom. The missions of the Monaco Economic Board (MEB) in Bahrain and Abu Dhabi go in this direction: bringing institutional players and key businesses together at the same table. CMB Monaco is fully committed to this outreach effort.

Q: How can you attract this high-end clientele?

F.G.: To meet the standards this clientele is accustomed to, we need to adopt the codes of luxury: tailor-made service, excellence, and lasting relationships. CMB Monaco is evolving in this spirit. We want to be perceived not only as a leading bank, but as a true partner of trust, with the same commitment to excellence as the great luxury brands.

Q: A word about your ambitions for the years ahead?

F.G.: The future of Wealth Management first and foremost requires much more technology. It is an industry that still lags behind, while the next generation – the one that will drive the great intergenerational transfer of wealth – no longer sees digital tools as a benefit, but as a basic expectation. Our ambition is clear: to deliver exceptional service, aligned with our clients’ lifestyle and expectations, and to position Monaco as a natural banking destination for entrepreneurs, families, and investors worldwide. This will be achieved through closeness, the deployment of cutting-edge technologies… and flawless execution.

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