15 Sep 2006 , Monaco/Frankfurt : Dresdner Bank opened its Monaco location today, making it the only German bank with a presence in the principality. Andreas Georgi, member of Dresdner Bank’s Board of Managing Directors, and Charles Sirna, managing director of the new subsidiary, hosted close to 500 international guests from the political and business communities, as well as from high society, at a festive gala. Prince Albert II of Monaco made a personal appearance at the ceremony to congratulate Dresdner Bank on the opening.

EFG International, a private Zurich-based bank, said it is to acquire Monaco-based private bank Banque Monegasque de Gestion from UniCredit Private Banking SpA, a subsidiary of UniCredito Italiano SpA.

Swiss Life's Banca del Gottardo said it has agreed to sell its Banque du Gothard (Monaco) unit to Banque Jacob Safra (Suisse).

ONE of Scotland's largest privately owned independent financial advisers is to establish a base in Monaco to serve some of the world's wealthiest clients.