Paris, April 17, 2023
Richelieu Group continues its development and announces changes in its governance
While the Group is celebrating its fifth anniversary this year, its private banking activities, both in France and in Monaco, have been particularly dynamic in today’s complex market environment.
Banque Richelieu is a family-owned wealth management group composed by a financial holding company in Paris, Compagnie Financière Richelieu, two private banks, Banque Richelieu France and Banque Richelieu Monaco, and an asset management company, Richelieu Gestion.
La Compagnie Financière Richelieu continues its development and strengthens the partnerships between its different subsidiaries.
In order to support this development, the Supervisory Board of Banque Richelieu France and the Board of Directors of Banque Richelieu Monaco have approved, subject to the approval of the French and Monegasque regulators, the following changes within its governance:
Banque Richelieu France
– Sylvain Fondeur is appointed as Chairman of the Board of Directors.
Sylvain Fondeur, 40, holds a Master’s degree in Finance from Neoma Business School and has over 10 years of experience in Audit and M&A. He started his career in 2007 in PwC Luxembourg’s asset management department and joined PwC France’s Transaction Services department in 2010 as Senior Manager. Specialized in M&A transactions in the financial services sector, Sylvain joined Compagnie Financière Richelieu at its foundation in 2018 as CFO, a position he still holds today, and has also become Member of the Management Board of Banque Richelieu France in 2019.
Banque Richelieu Monaco
– Thomas Lhuillier is appointed as Chief Executive Officer and Chief Operating Officer.
Thomas Lhuillier, 40, graduated from Victoria University of Wellington and University of Paris 1 Panthéon-Sorbonne. He started his career in 2006 at Crédit Foncier de France and in 2008, he became Head of English-speaking clientele of the Monegasque branch. In 2011, he joined the Société Générale Group as a Developer of international UHNWI clients. He contributed to the business development of Société Générale Private Banking Monaco before being in charge of the real estate financing department in 2014, and then the Business Development department in 2015. In 2017, he was appointed Commercial Director. He left his position in 2018 and became Deputy General Manager of Banque Richelieu Monaco. With his experience in international private banking, his knowledge of the Monegasque financial market and his skills in Private Banking, Thomas Lhuillier’s mission is to steer the growth strategy of Banque Richelieu Monaco.
– Slim Jaziri is appointed as General Manager and Chief Operating Officer
Slim Jaziri, 42, holds a Master’s degree in Market Finance. He started his career in 2004 as a research and IT development engineer. In 2007, he joined Société Générale Group where he successively held the positions of Quantitative Research Engineer, Head of Credit and Market Risk Modeling Unit and Senior Credit Officer in charge of risk supervision for international corporate financing. He then became Risk Director at Société Générale Private Banking Monaco. In 2018, he joined Compagnie Financière Richelieu at its foundation as Risk Director of the Richelieu Group. As part of his duties as Deputy Chief Executive Officer of Banque Richelieu Monaco, Slim Jaziri will particularly be in charge of Operations, Treasury, IT, Human Resources, Legal and Regalian Functions.
– Nicolas Rajner is appointed as Chief Investment Officer
Nicolas Rajner, 41, holds a Master’s degree in Investment Management from City University, Bayes Business School in London. He has over 19 years of experience in the financial markets, notably at BNP Paribas Asset Management, ETF Securities Ltd and more recently HSBC Private Bank (Monaco) as Head of Investment Management. In 2018, Nicolas Rajner joined Banque Richelieu Monaco as Head of Advisory and was appointed Deputy CIO in 2021. In his new role, he will be in charge of implementing the investment strategy within the framework of the discretionary and advisory management mandates.
“I am pleased with these talented appointments and I am confident in their ability to continue the positive and sustainable development of the Richelieu Group, alongside all our employees, who are invested in our success. I wish them great success in their future challenges” declares Jacques-Henri David, CEO of Compagnie Financière Richelieu.
At the end of December 2022, the Group had reached its target of EUR 5.6 billion in assets under management thanks to the performance of commercial inflows, as well as EUR 8 million in net income, representing an increase by 128% compared to 2021 and a 28% increase compared to its budget. It has a solvency ratio (CET1) of 25.5%.
About Richelieu Group
We are a family banking group on a human scale, specialized in wealth management and asset management, managed from Paris by the holding company Compagnie Financière Richelieu. Today, Banque Richelieu groups together 3 boutiques, totally focused on their clients and constantly adapting to their demands with a recognized speed of execution:
- Banque Richelieu France: private bank offering a complete wealth management service with tailor-made advice and management
- Banque Richelieu Monaco: boutique private bank for international high net worth individuals
- Richelieu Gestion: the asset management company that offers international, multi-thematic and sustainable management solutions.
2023 celebrates the Group’s 5th year in its current structure. Five years of optimization, construction, and creation of synergies that have given us a solid foundation.