Banque Havilland Monaco: new twist thanks to fintech investors
© Banque Havilland
Almost a year after losing its European licence, Banque Havilland’s Monegasque subsidiary is preparing to rise from the ashes thanks to a trio of technology entrepreneurs.
According to Bloomberg, three investors are now preparing to relaunch the Monegasque business: Jason Bates, co-founder of British neobanks Monzo and Starling Bank, Ukrainian technology investor Maksym Koretskiy, and Scottish billionaire Jim McColl. This new consortium replaces the one announced in September 2024, which included Martin Gilbert, Chairman of Revolut Bank, and sports entrepreneur Eddie Jordan.
A radical transformation on the horizon
The new buyers, who are currently awaiting regulatory approval from the Monaco Financial Activities Supervisory Commission and the French Prudential Supervision and Resolution Authority, are planning a complete transformation. The establishment is to become a financial technology company focused on wealth management, under a new name.
The Rowland legacy finally over
The acquisition symbolically marks the end of the Rowland era for the banking institution, which was once controlled by the family of David Rowland, a close associate of Prince Andrew. Banque Havilland lost its Luxembourg licence last year following anti-money laundering failings.
The Monegasque subsidiary, which has been in operation since 2011, was not part of the windup process that was completed last week for the main group.