Ermira Marika – Journeys without a map

“I can relate to that,” says Ermira Marika, an Equity Partner and Head of Developed Markets Credit at Pictet Asset Management. “I was born just before that track came out, and I have since realised that sometimes not having the luxury to choose can be the best gift for the future.”

Born in Tirana, Albania, Ermira's family moved from south-eastern Europe to Switzerland when she was 15 and settled in Bern, where she started at Gymnasium Kirchenfeld. “Kirchenfeld was a great school for me, and the programme to integrate foreign children was amazing. I learnt German and French fairly quickly, but then I realised that not speaking Swiss German would not help much when making friends, so I learnt that too, to better integrate.”

Determining which is more influential – nurture or nature – is difficult, but the Albanian school system relied heavily on science. Essentially, logic formed the basis of her education. Thus, being rational in her approach to school and later at university came naturally to her. She attended the University of Geneva, gaining a BA in Business Administration and later added a Master's in Finance. “I had no lofty dreams about what I wanted to do. I thought about art history because I was inspired by various artistic disciplines growing up. But then I realised that route was not an option I could afford, so I chose to study finance. To some, that trajectory seems strange, but I actually believe that art and finance are not as far apart as some might think – you have to be creative to succeed.” 

After university, she joined Pictet as an intern in the Quantitative Equities team. For years, she thought she had simply got lucky in landing a role at Pictet, but there was a specific reason she was hired. “When I interviewed, we hardly talked about finance, which I thought was odd. Gérard Huber, head of the division back then, asked me about my (cultural) background  and reference points. Only after he retired many years later did he share the real reason he hired me – he was looking for something different, not in gender or ethnicity, but rather in diversity of background and thought. He believed that having people with unusual life paths on the same team would lead to creativity and ultimately an investment and social edge. This still resonates when I hire for my teams.”

After a year, she moved into fixed income as an analyst, focusing on CHF bonds, and after almost eight years, she became the team's head in 2013. “Some people say that fixed income, particularly CHF bonds, is monotonous. But that is not the way I see it. On the contrary, I think investing can be a creative process. You need to apply perspective, conceptual thinking and an understanding of history if you want to innovate and create something new.”

Ermira's willingness to adapt and self-reflect has played an essential role in her success amid the competitive environment of fixed-income investing. “After many years, I see finance as something that can (and should) harness all kinds of hard and soft skills from everyone's personal journey to create better outcomes – from investment process innovation and business growth to client engagement and powerful people leadership styles.”

Ermira's 26-person team manages CHF 26 billion in assets under management (AUM) across credit strategies. She merges her rational thinking with empathy to be an inspiring leader. When asked what she would tell her younger self, she is quick to respond: “Take the time to enjoy the journey and have the instinct to lean on others all the way. I love what I do because of the constant search for the right balance between structure and creativity, but it is so much greater doing it in a good team. Now, after more than 20 years at Pictet, I feel a sense of gratitude and want to help nurture and support another generation of diverse thinkers, better investors, and creative entrepreneurs.”