The idea behind Monaco Private Label came a few years ago, says Genta. “[We thought] there are people who would be willing to invest in Monaco who deserve a special approach.” Formerly a Google executive, Genta was appointed to his current role in 2018. He is responsible for modernising the country as well as building and managing an ecosystem that attracts and integrates UHNWIs, family offices and investment funds. Monaco is a “people country”, defined by its relationships, he says, and Monaco Private Label is a community where members act as ambassadors of the Monaco brand; they must contribute to the causes of the principality. What they bring ranges from investment opportunities to expanding Monaco’s footprint in their own regions. “There is a real focus on philanthropy and environmental causes,” Genta adds. But rather than being transactional, the relationship is collaborative and based on trust; there wouldn’t be conversations about what is expected and what to give in return.

While acknowledging what Monaco Private Label could bring to the Greater Bay Area will take time to build, Genta is looking forward to further exchanges and partnerships between the two, saying, “Monaco is focusing on business and tech ... and we hope to see more people from Macau and Hong Kong come and see us and invest with us.” Hickox, who is Galaxy Entertainment Group’s representative on the SBM board, says that in addition to the Monégasque organisation and Galaxy continuing to work together, the two regions will also strengthen and evolve their relationship beyond borders. “While the two might not necessarily be in each other’s backyard, [they could] go into a third region, where we could expand our collective footprint together.”

Today, Monaco Private Label has 2,000 members around the world. Membership, which is free, comes at the recommendation of Monaco’s consuls and ambassadors. Generating access to the right people in the two regions is key: Monaco Private Label is about “creating networks between influential people in Greater China and Monaco”, says Hickox. “And hopefully, that facilitates investment and discussion both ways.” It also opens the doors to education, philanthropy and cultural exchange; plus, of course, “There’s a nice air of exclusivity about Monaco Private Label—people are hand-selected to join the club.”

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