Hervé Thiard – From the Strait of Hormuz to leading Pictet Asset Management France
The reason every day feels like the first is that, when Hervé gets to the office in the morning, he always asks himself: How can we be successful today? “Our working environment is constantly shifting. It's essential to keep questioning ourselves. We exchange about all manner of topics from AI to biotech to emerging markets. It's crucial to stay informed.”
His interest in geopolitics and international affairs crystallised during the early years of his career, when he was lieutenant (commissioned rank) in the French Navy between 1987 and 1988, during the Iran-Iraq War. While on mission, Hervé spent many months at sea, often in the Middle East, patrolling off Iran and Iraq, in the Strait of Hormuz. This would mark his entire career. He became aware that political decisions can radically change the situation on the ground. Staying informed was vital, in the truest sense of the word.
His time in the French Navy also taught him about working in a multicultural environment, as he was surrounded by people from diverse backgrounds. “Serving your country is a great learning experience. I learnt how to work alongside people more focused on being than having. You also grasp what it really means to take responsibility.”
Everyone I spoke to during my recruitment process showed the same pride in working at Pictet.
After returning from the Indian Ocean, Hervé decided to look for a more conventional job, but without narrowing his horizons. “When I got back to France, I felt like my world had shrunk. I wanted to find a job with an international dimension, so the idea of working in the stock and financial markets appealed to me.”
Hervé, who holds a business degree from École de Commerce de Rouen, was appointed head of the securities back office at Banque Worms. “I come from a family of engineers, and I’ve always enjoyed taking a look at the inner workings of things, finding out about the complexities of administrative processes.” This approach helps him to understand the challenges faced by our back-office colleagues and the important role they play. Even today, Hervé admits that he enjoys what goes on backstage as much as what happens front of house.After two years in the “engine room”, Hervé took up marketing and then development roles in the asset management arm of Bank Worms.
In 2003, he was approached by Rémy Best and Laurent Ramsey, who were in charge of asset management just as the Group was looking to open its first office in Paris. “I must admit that I knew virtually nothing about Pictet. But I had met the sales representative responsible for exploring the French market. Her passion and charisma impressed me, which made me want to find out more about the company.”
As a manager, my role is to keep my teams calm and to act as a ‘lightning rod’, so that they can focus on developing the business.
This marked the start of a (very long) recruitment process, during which Hervé met several Pictet representatives. “I must have seen at least 10 people from different departments, from Legal to Human Resources, and of course several Managing Partners. And all of them, without exception, told me the same story, with a clear roadmap and no room for doubt. Above all, everyone I spoke showed the same pride in working for Pictet.” It didn’t take much to convince Hervé, who had the feeling that this was the start of a wonderful adventure.
His journey at Pictet began in June 2003, when he moved to Geneva to finalise the administrative and regulatory formalities for the opening of the Paris office. Those early days confirmed his initial impression. “I soon sensed that I was in the right place. I was particularly impressed by how knowledgeable and sophisticated my colleagues were, the commitment to excellence at all levels of the organisation, and the fact that everything ran smoothly.”
Hervé had a memorable, if somewhat disconcerting, experience one of the first times he attended a meeting of the Board of Partners. “Five months after my arrival, I had to present my roadmap to the Partners. I thought I had prepared well and I had tried to anticipate all the tricky questions they were going to put to me.”
At the end of his presentation, Hervé anxiously awaited the questions he was sure would come, ready to defend his business plan. To his great surprise, there were none; just a “Thank you and goodbye”. Totally taken aback by what had just happened, he called Rémy Best, the Managing Partner responsible for the business line. “I was nervous, I immediately asked him if the Partners really wanted to keep me.” Rémy Best simply replied: “The plan you’ve just presented is YOUR plan. So, that’s the best plan.”
This was how Hervé was introduced to what he now calls “Pictet-style management”, which, in his words, leaves a great deal of freedom and room for manoeuvre. “It’s a very powerful motivating factor, but also forces you to take individual responsibility. From the outset, I was given an entrepreneurial role and a great deal of trust was put in me. At the same time, if I had any doubts, I knew I could ask the Partners for advice. As a rule, they didn’t tell me exactly what to do, but they helped me to find the right answers, by asking me the right questions.
Today, it’s this management style, based on trust, that Hervé tries to apply to his teams, who number around 15 staff in total, divided between Paris and Brussels. “I think my role is also to keep my teams calm and to act as a ‘lightning rod’, so that they can concentrate on developing the business, without having to worry about politics or internal problems.” To keep them motivated, Hervé frequently tells them: “Don’t worry, just enjoy yourselves. Take the initiative, meet people and be visible!”
How does Hervé see the future and development of PAM France? “My aim is for us to become a leading player in the asset management sector in France, offering a comprehensive one-stop-shop service. I would like investors to turn to us spontaneously, first, whatever the product they are looking for. It’s an ambitious goal, but I believe that by working hard in the field and thanks to the excellent reputation of our brand, we can achieve it.”
As for his own future, Hervé hopes to continue to pursue his two passions: open-water swimming and his work with École de la Deuxième Chance, an association which helps young people from disadvantaged neighbourhoods to find employment. And all this, of course, while remaining dedicated to Pictet, the Group he joined over 20 years ago. In a final burst of enthusiasm, he says: “It’s been pure joy!”
