A consortium led by Martin Gilbert, Chairman of Revolut Bank, alongside Monaco-based financier Ivan Murphy, is set to acquire Banque Havilland (Monaco) SAM…
The group of investors also includes prominent Monaco residents, such as sports entrepreneur Eddie Jordan and Dutch industrialist Bart Duijndam. The acquisition comes after Banque Havilland’s recent difficulties, offering a new direction for the Monaco subsidiary of the troubled bank.
Banque Havilland Group confirmed in a press release that they had entered into exclusive negotiations with the consortium, stating the investors would bring stability and growth to the Monaco bank. The consortium is set on revitalising the private bank with a focus on its clients and employees, about 20 of whom currently work at the institution. “We are delighted to have the opportunity to acquire Banque Havilland (Monaco) SAM and to restore the trust of its loyal clients and staff,” said Ivan Murphy, Executive Director.
The acquisition, pending regulatory approvals, is expected to be finalised before the end of the year. This move signals the end of a challenging chapter for Banque Havilland, which has faced significant regulatory issues in recent years. The bank was fined €4 million by Luxembourg regulators for anti-money-laundering failings, and its license was revoked by the European Central Bank, prompting the group to wind down operations.
While the purchase involves only the Monaco branch, Revolut, a major player in the digital banking world, is expanding its global footprint. Having applied for a Swiss banking license, the British neobank is also present across Europe via its Lithuanian base, offering a wide range of financial services. The acquisition will likely strengthen Revolut’s position in the region, aligning with its mission to simplify money management for individuals and businesses worldwide.
This acquisition follows the withdrawal of Andorra’s largest bank, Andbank, from a similar deal earlier this year after a due diligence review.
