The move is part of its European expansion, reports Reuters.
The announcement was made on Wednesday. This new office in the Principality will house the “Private Wealth Management” branch of Goldman Sachs.
Management of the office has been entrusted to the experienced Arnaud Caussin, Thibaut Lambert (formerly with Barclay’s) and Serge Olive. Their remit is to advise wealthy residents of the region, particularly with regard to investments and wealth management.
The opening of our presence in Monaco is critical to delivering on our regionalisation strategy and overall growth plan.
Chris French, Goldman Sachs EMEA co-head of private wealth management
“On a global scale, the growth of its private banking activities is a strategic priority for Goldman Sachs,” the group said in a press release, which specifies that its objective is also to “develop its workforce accordingly”.
Source: monaco-tribune.com
