Privatam: a WealthTech focused on innovation and services
Published on August 30, 2021
Massimo Passamonti is passionate about innovation, technology and management. This engineer graduated from the Polytechnic School of Milan and the Ecole Centrale de Lyon and specialized in finance after an experience at CERN. After working as a Director in London for Commerzbank AG, then as Director of structured products at Mediobanca, his entrepreneurial spirit took over: he created Privatam seven years ago, and is its C.E.O. today. He is currently completing an Executive MBA at INSEAD in Fontainebleau. Interview.
How was Privatam born?
The company was created in 2014 in Monaco by four partners, three of whom are based in Monaco and one in London. Today, 27 associates work with us in Monaco, and we are expanding rapidly. We plan to hire three new associates by the end of the year to support our future growth and develop our business. Our ambition is to continue to improve our support to asset managers in the creation of their tailor-made investments, all over the world.
What markets are you positioned in?
Our main market is Latin America. So it's a market that we know very well and to which we are attached. We have been established there since 2014, we have an office and teams there. It is our historical market and we want to continue to expand our business there while developing new markets. Our DNA comes from there and we are very proud of it.
Switzerland is also an important market for us. We opened an office in Zurich three years ago.
But Privatam's headquarters are in Monaco and we are very happy with that, even if it is not always easy to recruit employees there. However, we do manage to attract experienced and international talent. Diversity is very present at PRIVATAM and is illustrated by the fact that we have 40% women, all age groups, 19 nationalities and a dozen languages spoken. We believe that diversity is a real asset.