10 Things You Didn’t Know About Edouard Carmignac

Edward Carmignac. You may have heard of him; he’s the discerning French financier and art-loving philanthropist. Although you may know him by reputation, there is so much more to this intriguing individual. Delve into the fascinating facts about Edouard Carmignac that are often eclipsed by his business acumen and philanthropic pursuits.

1. An Impressive Educational Background

Edward Carmignac’s success did not come by chance, but was rather molded by his rich educational background. He obtained his degree from Sciences Po – a social sciences university in Paris- in 1969. As an aspiring youngster with a thirst for knowledge, his academic journey did not stop there.

Edouard travelled across the Atlantic to Columbia Business School in New York. In 1972, he graduated with an MBA in Finance, a foundation that would heavily influence his future career path. He has often stated how his time in New York instilled in him a forward-thinking and open-minded approach to investments.

2. A Career that Began in the United States

Following his graduation, Edouard spent about ten years working for various banks in the United States. In 1972, he joined the investment bank Smith Barney, and later became a financial analyst at IBM.

Working in the United States not only equipped him with the necessary experience, it also exposed him to the American society and culture, another aspect of his life that has significantly shaped his work and viewpoints.

3. Founder of an Asset Management Firm

In 1989, after gaining a considerable amount of experience in the financial sector, Edouard decided it was time to create his own Empire. He returned to his home country of France and established Carmignac Gestion, an asset management firm. Today, the firm manages assets worth billions of Euros.

Despite the ups and downs of the global financial market, Carmignac Gestion has managed to remain afloat and thrive. This success is largely attributed to Edouard’s unique and strategic approach to asset management.

4. A Passion for Philanthropy

Beyond the world of finance, Edouard has a deep passion for philanthropy and uses his resources to support various causes. He established Fondation Carmignac, a philanthropic foundation that supports contemporary art and photojournalism.

This foundation manages Carmignac Photojournalism Award, an annual award that funds and promotes an investigative journalism project that highlights human rights violations worldwide. It also manages a contemporary art collection with over 300 works of art.

5. A Collector of Contemporary Art

In addition to his day job as an investor, Mr. Carmignac is a revered collector of contemporary art, with a collection of over 300 pieces held by the Fondation Carmignac. Its vast collection has works of art from renowned artists like Andy Warhol, Roy Lichtenstein and Jeff Koons, all housed at the foundation’s headquarters on the island of Porquerolles in the south of France.

His love for art extends beyond collecting; he has also sponsored numerous art exhibitions. By doing this, he ensures that the public gets to enjoy the works of art that he holds dear, further nurturing the culture of art appreciation and preservation.

6. An Avid Polo Player

Among his multiple interests, one that surprisingly comes up is his love for polo. Edouard is a keen polo player and a vibrant figure in the polo scene.

His love for polo is so great that he even owns a string of polo ponies that are stationed at his residences in London and Geneva. He not only finds the game joyful but also considers it a fine blend of strategy and teamwork, which resonates with his business principles.

7. A Dramatic Reshuffling of Carmignac Gestion’s Leadership

As part of his transition plans, Carmignac surprised everyone in the business world by appointing a complete outsider as the company’s CEO in 2015. David Older, a former media and information industry specialist, was entrusted with the management of the Carmignac Gestion Group.

In 2018, Edouard stepped down from his position as a fund manager and handed over the reins to his son, Maxime. Having previously worked at Morgan Stanley and Rothschild, Maxime brings a wealth of experience to the family business.

8. His Intuition and Risk-Taking Propensity

Edouard is known for taking huge financial risks, a trait that has played out prominently in how he runs Carmignac Gestion. His ability to follow his gut feeling and make decisions according to his intuition has repeatedly led to significant financial payoffs.

This quality has also placed him at the forefront of the financial world, forecasted recessions and offered his clients valuable insights into the financial market. Hence, it further solidifies his reputation as one of the most successful businessmen in the financial world.

9. The 2010 Scandal

In 2010, Edouard faced scandal when it was revealed that his firm had invested more than 15 percent of its portfolio in small Spanish bank Bankia, which went bankrupt. However, he faced the scandal head-on and managed to reassure his clients, proving his resilience and ability to steer the ship during crisis.

This scandal did not only test his leadership skills but his reputation as well. Despite this, he managed to keep the company moving forward, making it stronger than ever.

10. A Devoted Father and Husband

Despite his busy schedule and business engagements, Edouard is a dedicated family man. He is happily married to his wife, Mercedes Carmignac and is blessed with three children; Maxime, Charles and Heloise.

He has successfully managed to instill his business acumen and love for art in his children, particularly in Maxime who joined him in his business and has been learning from his extensive wealth of experience.

In conclusion, Edouard Carmignac’s life is a roadmap of success, philanthropy and art appreciation. From his love for polo to his business ventures, he represents the eclectic mix of a modern day businessman. He truly personifies a persona characterized by professionalism, creativity, passion and a knack for risk-taking.

Useful Links:
Carmignac Gestion
Fondation Carmignac