Chloé Boscagli Leclercq reveals her ambitions for Monaco Private Label (MPL)

The MPL helps attract influential figures to the Principality and retain those who already live here.

After a brief presentation in February on the development of the Monaco Private Label (MPL), the new director, Chloé Boscagli-Leclercq, agreed to provide more detail on her ambitions for the community, whose purpose is to attract, integrate and retain future and current Principality residents. Its network has an international reach, with 2,000 entrepreneurs, investors and business leaders from over 60 countries. It is an integral part of the Attractiveness Unit, headed up by Frederic Genta, Interministerial Delegate for Attractiveness and the Digital Transition, with Chloé Boscagli-Leclercq as its Director.

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Your career has been very varied to date, can you tell us about it?

Absolutely. I left the Principality after passing a scientific baccalaureate at the Lycée Albert 1er, then went on to take a preparatory course at the Lycée Henry IV before attending HEC. At the same time, I enrolled at the Sorbonne to specialise in taxation and business law. I’ve always been very interested in a wide range of subjects, and I began my professional career with a Parisian tax firm. After several years, I returned to the Principality, and was with the SBM for 9 years, where I was in charge of cross-functional projects. Elected as a local councillor in 2015, I was and still am responsible for fabulous and exciting portfolios: early childhood, youth, but also parity and gender equality. I’ve always had a wide range of activities. Even as a child I took ballet, piano, violin and music theory all at the same time. So yes, as a mother hen to my two children, I have a particularly busy life, but I love it!

What is your role at the MPL?

The MPL was created 15 years ago. It is a tool that serves to identify well-known entrepreneurs and investors abroad, who are friends of the Principality. The first step is to meet them in their home country. Through the consular and diplomatic network, the aim is to identify exceptional figures, who have impeccable moral character and are consistent with Monaco’s values. Generally, these individuals with very considerable assets are drawn towards charitable causes. We meet with them so that they have a dedicated contact in the Principality. We then invite these elite personalities to come to Monaco, to prove to them that the Principality is a unique, business-friendly place, with a soul. The members of the MPL help to promote the Principality and pass on that message.

What trips have you made since taking up your post?

Frederic Genta wanted us to focus in particular on developing the European community, and specifically the most prevalent nationalities in the Principality: the British, the Swiss and the Belgians. We went to London, Brussels, Stockholm and Davos. This year we’d like to go back to London, then Athens and Oslo.

Can we call it a luxury concierge service?

I’ve already hear that term used, but I don’t think it’s quite right. The aim is to give these figures the best possible welcome by supporting them through the initial formalities in the Principality. Whilst retaining our governmental role, and without trying to replace the experts, we try to satisfy their requests and provide our members with a special connection with the Principality.

What are your ambitions with the MPL?

Our ambition is for Monaco Private Label to be the Attractiveness spearhead. We would like to enrol more members aged between 30 and 50, and we know that the Principality has what it takes to meet their aspirations. To help with this, we now work with residents who share the quality of life they enjoy in the Principality with their friends. Our aim with the MPL is to create human connections that are based on trust. Of course, the system set up by my predecessor has proved itself, with certain residents settling here as a result. We are trying to provide a dual boost: we are keeping up our activities abroad through the Société des Bains de Mer (SBM), the Association Monégasque des Activités Financières (AMAF), the Monaco Economic Board (MEB), and we have the support of the diplomatic and consular corps. We are also working with an array of public and private partners to bolster the local network and strengthen the bonds between resident members and the Principality.

The idea is also to attract more of the existing residents?

Exactly. Many things have been put in place to integrate residents from outside Monaco into our country, and we want to maintain this, while increasing the number of MPL members who are already Monegasque residents so that we can work towards full integration in Principality life. At present, 10% of our members are residents and we hope to increase this to 20% in the near future. This will create a virtuous circle, since they in turn will be able to help us. To that end, we will be increasing the number of our annual events from eight to around twenty. This will also help to develop members’ sense of belonging.

What arguments do yo use to attract these figures?

The Principality has a number of unique assets, not least of which is its stability. That’s what people look for if they want to develop their business or make plans for their family. On that front, we have solid arguments in terms of security and institutional, economic and budgetary stability. But while we are stable, we are not static – far from it.

How do people join the MPL?

Potential members are recommended and carefully selected. We then meet with them and, once these two stages have been completed, they may be enrolled. Without naming names to respect our members’ privacy, we tend to focus on economic leaders and brilliant entrepreneurs.