Best Monaco bank CFM Indosuez seeks to widen client base
The new CFM Indosuez campaign is aimed primarily at new English-speaking residents - © CFM Indosuez
The bank is also the oldest in the Principality, having been in existence for over a century.
“Work creates wealth”. This is the slogan for the new CFM Indosuez bank campaign that was launched a few days ago and is now gracing Monaco’s buses and advertising spaces.
Advertising
The aim: “to illustrate the alchemy between the value of work and the universal need to create, protect and grow one’s wealth.”
More specifically, CFM Indosuez, voted best bank in Monaco by Global Finance Magazine seven times in a row, hopes to remind people that while it is considered a Monegasque or French institution, it also has an international dimension.
Young English speakers in their sights
The aim is therefore to attract more English-speaking customers (particularly among the new Monegasque residents), who currently represent only a third of CFM’s clients, as Mathieu Ferragut, the establishment’s general manager, explained at a presentation lunch.
The other aim of this campaign is to remind people that CFM Indosuez is not just a bank, but a veritable asset management institution that plays a major role in the Monegasque economy, with two-thirds of local companies in its portfolio!
“At CFM Indosuez, we understand that work creates wealth. Whether you built up your wealth yourself or inherited it, work and responsibility are equal partners in achieving your ambitions. Our multi-disciplinary experts have been working with you since 1922 to help you develop a bespoke portfolio,” says the bank.
The establishment has been in existence in Monaco for over a hundred years now, making it the oldest bank in Monaco. Originally named Crédit Foncier de Monaco by Sovereign Order of Prince Louis II, CFM Indosuez came into being thanks to the backing of Monegasque investors, as well as the drive of Henri Marquet, an electrical engineer in charge of the Société d’Études pour l’Expansion Économique de la Principauté, and Charles Berragain, Vice-President of the Caisse Centrale des Banques Populaires de France.
Two key figures in the Principality, who initiated the strong bond between CFM Indosuez and a number of Monegasque institutions, such as the Oceanographic Museum, the Ballets de Monte-Carlo and AMADE.
One of only two Monegasque companies listed on the Paris stock exchange
With 400 employees and some forty market operators, CFM Indosuez is the Principality’s largest bank and one of only two Monegasque companies – along with SBM – listed on the Paris stock exchange.
But far from resting on its laurels, the bank is now aiming to attract new generations of customers, proving to young working people that Monaco is not just for the retired – quite the contrary. At a time when business travel is on the increase, CFM has physical branches in France, Belgium, Luxembourg, Switzerland, Brazil, Hong Kong, Singapore and the United Arab Emirates.
A line of human resistance against the digital onslaught, as Mathieu Ferragut attests: “After the success of online banking, we are seeing a reversal in that trend, with human relationships being extremely important.”
CFM Indosuez’s employees, most of whom are bilingual or even multilingual, are committed to supporting their customers quickly and efficiently. This support has not only earned the bank the title of best bank in Monaco, but also two awards for “Wealth Management Business Servicing The Principality of Monaco” from Wealth Briefing, the international specialist in business intelligence services for wealth management.