The Riviera's Danish Community

Written by Cressida van Zyl-Pithey

From Reporter Issue 103

HONEST, RELIABLE AND ALWAYS ON TIMES

That's one local Brit's assessment of the Danes in business here. But who are they and what are they doing? Cressida van Zyl-Pithey has been finding out.

Those Danish qualities mentioned in our title are worth bearing in mind if you need to have your house painted, set up a computer system, buy insurance, fit out your yacht with a new propeller - and quite a lot of other things. Danish-run businesses here cover a wide field. Some, of course, are very small, others very big, parts of large organisations reaching far beyond this region.

"Health and wealth"

That's true of the Danes who are here to look after your health and manage your wealth. First, International Health Insurance Danmark. This company was founded in 1917 as a domestic health insurer in its home country. In 1979 it moved into the expat market and now has thousands of clients worldwide. Explains local representative Lone Guiran (who, from her office in Nice-Etoile, combines that post with that of Danish consul): "I suppose in recent years the two big shifts in our activity have been the increasing number of non-Scandinavians who've come to us - we work in English - and then there's the growing stress now on the corporate market. With the growth in overseas postings and with business travel part of so many executive's routine we've tailored our products to meet company needs. For example, a firm can buy a block of, say, 2000 hours of medical insurance which can be applied when needed to any of their staff. Then again we put much more emphasis on prevention than we did twenty years ago and this is much appreciated by management. We've set up what we call the University of Well-Being. Clients who are enrolled for this have their health tracked regularly by specialists and can hope to avoid some of the medical misfortunes which can disrupt a career. Of course, we still welcome the individual client. We've got a wide range of policy options and they're applied with great efficiency. No, we're not the cheapest of medical insurers but we're certainly one of the best. I'm always glad to talk to people who'd like to know what we can do, both for an individual or a company."

Moving from health to wealth, there's Jyske Bank and Danske Bank. "We're newcomers - we only opened our doors in January," says Jyske's Cannes-based local manager Thomas Westh Olsen (pictured), "but we're a household name in Denmark where we are the country's third largest bank." Like most other foreign banks here, Jyske Bank is not open for ordinary retail transactions. "That's right. Here in the South of France we're offering private banking services. Let me enlarge on that. Basically, we're offering a unique combination of property financing and asset management. On the property side we're looking at homes worth 400,000 euros and above. Sometimes people want a straightforward initial mortgage. No problem but we also specialise in cases where a client wishes to release the equity on his existing residence - that's the additional value that's been created since he bought it. We then advise how this can be invested to maximum advantage. Of course, we're also here to advise the client who comes to us with capital to invest." Olsen is very clear about the strengths of Jyske Bank: "On the property financing side we've got a lot of background. I've just come from ten years running our Gibraltar office which covered southern Spain and the Algarve. That gave me a wealth of experience. On the asset management side I'd say our strength lies in what I'd call our informed restraint. What do I mean? Our CEO Anders Dam insists that our values are of prime importance - and first among them is rejection of 'the culture of greed'. In the long run it literally doesn't pay. We ask for a client's confidence and reward this with the quality of our performance. Our track record's there to prove it." Thomas Westh Olsen and the members of his team, are always ready to advise potential clients in English and in the languages of Scandinavia.

"It's just not the same mentality"

As the Nordic community here has grown so has the range of Danish businesses. Alex Balkin (his father was Russian) has played a part in both areas of growth. He has fathered two sets of twins here and now runs the local branch of Scanazur, a Copenhagen-based company which advises Scandinavians, especially, settling here. "This is in many ways a different world," points out Alex. "We begin by helping them through the complex area of property acquisition but we deal with every aspect of what we call local problem solving." Alex's notion of "a different world" came up repeatedly in my conversations with Danes. Erik Jensen who's worked as a painter and decorator all along the Coast for nearly twenty years (assisted now by his son Nils) says, "It's just not the same mentality - you see it in the attitudes to punctuality, estimates, simply doing what you'll say you do - as Danes are used to. When I was apprenticed back in Denmark I had respect for the client drummed into me. If I say I'll do a particular job in Menton or Saint-Tropez next Tuesday then I'll be there." That reputation of the Danes a British businessman in Antibes summed up for me - "honest, reliable and always on time" - brings them a lot of business from within the wider anglophone community. As does their easy use of English. "Certainly," agrees Steen Andersen, an AXA insurance agent in Nice, "it's a great help. Insurance is a complicated field and I can explain things clearly in a way that makes sense to a Brit or a South African, for example." Michael Kayser who runs SM2S, a computer consultancy, also realises his excellent English is a great advantage. "I set up systems, sort out problems, and I have to be able to make things clear to those who are barely computer-literate - and, to go back to an earlier point, I'm reliable which isn't always true of the locals." A mildly dissenting voice here is that of Aksel Andresen who represents Gori, a Danish manufacturer of two- and three-bladed yacht propellers based in Golfe Juan. "Maybe my sector - marine services - is rather special. To survive you've got to match international standards and I'd say most of my French colleagues do just that. To be fair, to be good at your job you don't have to be Danish." Well, perhaps not, but in my observation it certainly helps.

BACK TO BANKING...

Danske Bank International has had a representative office in Cannes for the past five years. When doing business with such a major player in the Scandinavian expat community what can a client expect to receive ? Says local manager Carsten Thylgard, "We concentrate on our core activities: tax planning, inheritance management and investment. We believe we offer an exceptional service in our chosen fields."

Danske Bank International avows considerable experience and expertise in these areas of particular concern to expats. "The parent bank in Copenhagen has existed for over 130 years." Thylgard reminded me, "We've been in the international private banking business for around three decades. Then we've got the knowledge. Our head office is in Luxembourg and that's an ideal place from where to survey the whole European tax scene and associated fiscal laws. On the investment side, we're from a banking system in which decisions are based on real knowledge and there's no impulse to take unnecessary risks. We're sound, that's the word. Look at our long-term credit ratings - Aa1 with Moody, AA- with Standard and Poor."

Currently, most of Danske Bank's local clients are Scandinavian. "That in itself says a lot," points out Thylgard. "We Nordics value above all professionalism and the development of continuing business relationships. We are delighted to meet with anyone in the wider English-speaking community who's looking for ongoing advice. The financial world is very volatile these days and expert understanding is essential."

WELKOMMEN I NICE!

Danes don't often speak French unless they live here and that's part of the reason for the success of Minne and Anderes Kornum with their Sans Souci hotel in Nice's old town. How did this couple of Copenhagen lawyers end up here? "Our youngest daughter - she was 16 at the time - was being very difficult and we moved her down here so she could sort herself out, and it worked. But we fell in love with Nice and decided to stay. We knew it was a gamble, but it's worked. The hotel's simple but comfortable, very reasonably priced but good value for money - and in a wonderful location next door to the Palais de justice. You get en suite facilities, TV and an IKEA kitchen! We get people on holiday in the summer and for longer stays in the winter. One lady was with us for a year. Lots of Danes but we get Brits as well. We've created something special. It's the C�te d'Azur - with a dash of Danish blue!"

CONTACTS REFERED TO IN DANISH FEATURE