The private wealth arm of banking giant Goldman Sachs has unveiled an operation in Monaco after it hired three professionals to serve clients in the principality.
The Monaco team will work closely with ultra-high net worth individuals in the region to offer wealth management and investment advice. Goldman Sachs’ opening in Monaco follows the closure of an office in the region in 2016.
The bank said that growing its wealth management business is a “strategic priority” and it has ambitions to scale its offering to clients in the Europe, Middle East and Africa (Emea) region significantly.
Goldman Sachs Private Wealth Management (PWM) is closely involved in the ‘One Goldman Sachs’ strategy, in partnership with the asset management, global markets and investment banking divisions, aiming to create a one-stop-shop offering for its clients.
Chris French, co-head of PWM for Emea at Goldman Sachs, said: “The opening of our presence in Monaco is critical to delivering on our regionalisation strategy and overall growth plan.
“Monaco represents a significant jurisdiction for our private wealth business in Europe and the branch launch will enable us to better serve our clients in the local market and to contribute to the local community.”
Arnaud Caussin, Thibaut Lambert and Serge Olive will be part of the Goldman Sachs PWM team in Monaco.
Caussin is co-head of Goldman Sachs Monaco SAM. He joined Goldman Sachs as a managing director in 2021 to help set up the franchise in the principality. Prior to joining the firm, he spent 22 years at Barclays in Monaco.
Lambert is co-head of Goldman Sachs Monaco SAM. He joined Goldman Sachs as a managing director in 2021 to help set up the franchise in the principality. Prior to joining the firm, he worked at Barclays as a managing director from 2003 to 2021.
Olive is a private wealth adviser at Goldman Sachs.