Ludovic Subran, the Persuader, and his analysis of the current World Economy

Is the World Economy “On the road to nowhere” ? What are we supposed to do with our trading stocks ? “Should I stay or should I go” ? Well these questions and many more found a partial answer on July the 6th in the Novotel of Monaco.

The Monaco Economic Board Members had the “once in a year” opportunity to listen to Ludovic Subran, Chief Economist at Allianz Insurance, for an evening around the topic :Will the war of capital take place?

The conference room showed no vacancy, Mr Jean Castellini, Minister of Finance and Economy in Monaco, and Mr Balthazar Seydoux, President of the Finance and National Economy Commission from the National Council of Monaco, were present, and after a smart introduction by Mr Michel Dotta, President of the Monaco Economic Board, the floor was wide open for Ludovic Subran. The lights dimmed and the startling economics’ facts started to flash across the room.

Many hot topics were discussed. The geopolitics currents between Europe, the USA, China and Russia. The Dollar vs Euro. The Ukraine – Russia crisis and its consequences. The unknown long term effects of the pandemic in our economy. The energy crisis. World inflation … and many more nail biting analysis.

How long for the economic sanctions on Russia to disappear ? At least 10 years according to Ludovic Subran.

Will the Euro vs Dollar crash continue ? It will come back to $1.10 to a Euro in 2023 but will remain very low till then said Mr Subran.

Is the Stock Exchange crash over ? The Allianz Chief Economist was rather pessimistic “expect another 15% drop in the coming months”.

What about the energy price ? Will the increase linger ? The Allianz Insurance Oracle mentioned that while the energy inflation in France increased by “only” 7% thanks to the taxation shield, it increased by 200% in Italy… and it’s Summer time. Expect a rude awakening when comes the Fall … “and Winter is coming”, not just on Winterfell.

Sounds gloomy ? Well, Mr Subran tempered, “we are in a recession phase and sorting will be done” concerning the companies and business that had been sustained up till then. Good old Darwinism is back (perhaps) and if you have a solid company, hold on, the best is yet to come as another growth phase will follow.

Some thoughtful questions followed Mr Subran’s vibrant speech concerning the position of Europe regarding Russia which Ludovic Subran summed up as the “Iranisation” of Russia with its arsenal of financial blockades. How about our politics in Europe ? “After 2 years of COVID fighting, they are all tired, it’s human. They should have passed power to less exhausted team mates”. After 1 hr and 45 minutes of one man show, it was time for Ludovic to “drop the mike”.

But it was not over. On the seventh floor of the Novotel Monaco, the Monaco Economic Board had organized a cocktail for the members and extended the opportunity to have private talks with Ludovic Subran. Baccana Digital Consulting seized the chance ask Ludovic a few questions regarding Saudi Arabia, the United Arab Emirates, India and China and the game of influence in this booming part of the Asian world. Thank you Mr Subran !

This economic conference was a success. It is always a genuine pleasure to listen to Ludovic Subran whether you are a rookie or professional. Ludovic has that ability to make the most complex economic system understandable to a golden retriever. We just had to talk to a few attendees during the cocktail to sense that every person present fell under the charm of the speaker. Everybody left the conference room with notes to share with their team which says a lot. We will sure be back next year to listen to you Mr Subran. We took some notes for comparison too!

2nd UHNWI summit at the Monaco Yacht Club

On June the 27th 2022, took place the 2nd ANNUAL UHNWI INSIGHT SUMMIT addressing the topic of “The 21st Century Uber Luxury Client – Insights from practice and research.

The summit was organized by the Cluster Yachting Monaco and the International University of Monaco, in partnership with Monaco Capital of Advanced Yachting, in the realm of the Monaco Yachting Club, and an important crowd related to the yachting industry showed up on this lovely day in the warmth and eternal glamour of the Riviera.

After an introduction by Gregory Benassi of the Cluster Yachting Monaco, followed by Jean Philippe Muller General Director of the IUM, Dr Annalisa Tarquini-Poli and Dr Phil Klaus took the stage in master class act to define “What matters most to the Ultra High Net Worth Incomes and why traditional marketing won’t work anymore“. Did you know that by 2025, 45% of the world’s wealthiest people should be younger than 45 years old ? Well, Dr Tarquini-Poli and Dr Klaus showcased some amazing data and facts that Baccana Digital Consulting sipped like there were no tomorrow.

This class act was followed by another high time with Chiara Mascarucci, Co-founder of Blind Experiences, and Tom Marchant, Owner and Co-Founder of Black Tomato, two bright professionals of the Luxury Travel Industry that shared their knowledge in “How to engage wealthy clients.”

The finale came with a round table moderated by Charlotte Hogarth-Jones of Boat International, who animated the talk regarding “Challenges and opportunities for managing UHNWI customer experience, insights from the frontline.” The speakers, Alexander Staarjes, from Pernod Ricard, Winston Chesterfield, Founder of Barton Luxury and Wealth, and Raphael Sauleau, CEO Fraser Yachts, shared their insights and rich experiences regarding customer experience. The award of the best case study goes to Mr Sauleau with the set up of a mock up pirate attack of a chartered luxury yacht by another superyacht in the Caribbeans. It was right after the Covid, and the families aboard each yacht were related and had not seen each other in more than a year … memories for life.

The summit was a success. We just had to talk to some of the attendees during the lunch break to understand that every invitee learnt something that day and came out with a different perception of the UHNWI market and how to engage it. This summit also gave our company food for thought, and we shall make sure to attend the 3rd Summit in 2023, always in Monaco, World Capital of the Luxury Yachting Industry.

CIIE 2019 in Shanghai China

In November 2019, the Baccana Group, with the MonacObor company, was present in China at the Shanghai 2019 China International Import Expo.

“181 countries and regions represented, more than 3800 foreign companies exhibited, almost a million visitors… and Monaco was there.”

Indeed, with the help of Her Excellency Mme Catherine Fautrier Ambassador of Monaco in China, and the Monaco Economic Board, Monaco made it tho the greatest trade show on Earth. With a 130 sq meters booth at the colours of the Principality showcasing 8 different Monaco based companies.

The Baccana Group introduced MonacObor and its cross border ecommerce platform set to be launched in Spring 2020 to the Chinese public.

The Monaco booth encountered a great success and MonacObor is already aiming at participating to the CIIE 2020 !