For the third year running, Compagnie Monégasque de Banque (CMB) has been named Best Private Bank in Monaco by World Finance magazine.
“I am truly honored that CMB has been nominated this year again Best Private Bank in Monaco,” CEO Francesco Grosoli tells Forbes Monaco. “This award indicates strong customer recognition and trust, and highlights our efforts to offer the best quality of service to our clients.”
In the year of coronavirus, the 2020 World Finance Private Banking Awards honored financial intuitions “that can walk this fine line” of coping with significant technological changes and major demographic shifts in the world of private banking and wealth management. This includes CMB, which was founded in 1976 and has 250 employees, and Pictet, which won for Best Private Bank in Switzerland.
A subsidiary of the Mediobanca Group, with a consolidated balance sheet total of €5.2 billion (as of December 31, 2019), CMB recently raised more than €470,000 for the Princess Grace Hospital Center to help provide coronavirus-specific medical equipment and material for virological and serological Covid tests.
In 2016, CMB became the first private bank to create a Women and Finance Academy “to improve the financial culture of women and enhance their autonomy and confidence in managing their wealth.” It also launched the Academy First Investment in partnership with the International School of Monaco in 2018 to teach high school students the ins and outs of financial markets.