Since Donald Trump won the U.S. presidency, business has been booming for Monaco-based businessman Manfredi Lefebvre d'Ovidio.

The financial services sector, including banks, insurance companies and mutual funds, is the biggest beneficiary of the formalisation of savings, ICICI Bank chief Chanda Kochhar said.

President Donald Trump flew overnight to the World Economic Forum in Davos, Switzerland, where he will push his "America First" agenda and seek more fair, reciprocal trade between the United States and its allies.