Goldman Sachs is back in Monaco
(Boursier.com) — Goldman Sachs is back in Monaco. The New York-based bank received approval last month to open a branch there for its wealth management unit, about six years after its local office was closed, according to official documents obtained by ‘Bloomberg’ . “The breadth of our presence in Monaco is critical to delivering on our regionalization strategy and our overall growth plan,” said Chris French, Co-Head of Private Wealth Management for EMEA. “Monaco is an important jurisdiction for our Private Wealth business in Europe”. The US firm’s wealth management unit has recruited dozens of advisers from Europe, the Middle East and Africa in recent years as part of a strategy set out by chief executive David Solomon to make one of the largest banks in the world less dependent on trading.
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