Header NC - Governance - 1400x650 - optimised


More than a one man company: a team

Carmignac’s business model has been designed with controlled growth in mind since the company was created in 1989. The company has gradually brought in the resources and practices needed to manage assets of €55 billion. Today, four committees decide on long-term strategy. They assess risks and investment opportunities. This structure ensures that Carmignac will remain strong and enjoy long-term success.

Board of directors

  • Composition : 10 internal and external members.
  • Role : Set strategic directions of the company and oversee its smooth running.
  • Frequency : Minimum twice a year  
    Internal members :  
  • Edouard Carmignac, Chairman of the Board of Directors and Managing Director Carmignac Gestion
  • Eric Helderlé, Managing Director Carmignac Gestion Luxembourg
  • Maxime Carmignac, Managing Director Carmignac UK
  • Frédéric Leroux, Head of Cross Asset  
    External members :  
  • Paul-Henri de la Porte du Theil, was CEO at Crédit Agricole Asset Management then honorary Chairman of the Association Française de la Gestion Financière (AFG) until 2015. He is also a member of various marketplace associations. Paul-Henri de la Porte du Theil joined Carmignac’s Board of Directors in 2015.
  • David Field, joined Carmignac Gestion as a Commodity Analyst in 2005, and then was promoted in 2006 to become manager of the Carmignac Portfolio Commodities Fund, a position he held until May 2014.
  • Alain Meulnart has held the position of CEO at Saint Louis Sucre, Ifapartners and Evialis. He is a graduate of the Swiss Federal Institute of Technology Zurich.
  • Gérard Corne, an experienced professional in the fields of property and finance. He is currently the main shareholder and Managing Director of GERIFIM GROUP and GERI INTERNATIONAL. Gérard Corne has been a member of the Board of Directors of Carmignac Gestion since its creation.
  • Jaime Espinosa de los Monteiros, former vice-president of Kepler Capital Markets, is currently chairman of Amper SA, ATL Capital and Espinosa Partners Asesores. He is also a director of Zadig Fund and the main advisor to Kepler Capital Markets. Jaime Espinosa de los Monteros joined Carmignac Gestion’s Board of Directors in 2013.
  • Eric Le Coz, joined Carmignac Gestion in 1998 as Portfolio manager in charge of derivative strategies. He was then promoted Director of Product Development, Member of Investment Committee in 2004, then appointed Deputy Managing Director in 2011 and Managing Director of Carmignac Gestion Luxembourg from 2012 to 2016.
Gouvernance - 174776170v2.jpg

Presentation of the remuneration and appointments committee

Carmignac Groupe’s remuneration and appointments committee is in charge of remuneration-related matters. It assists the governance bodies of the group’s companies in the selection of new directors and the assessment of the Company’s HR policy.

Members :
- Mr Paul-Henri de la Porte du Theil, Committee Chairman
- Mr David Field
- Ms Maxime Carmignac

Strategic development committee

  • Composition : 12 key members of staff representing all business lines.
  • Role : Enforce a general strategy and oversee the company’s various projects.
  • Frequency : Quarterly  
    12 permanent members:  
  • Eric Helderlé, Managing Director Carmignac Gestion Luxembourg
  • Christophe Peronin, Deputy Managing Director Carmignac Gestion
  • Maxime Carmignac, Managing Director Carmignac UK
  • Giorgio Ventura, Global Head of Sales
  • Pascale Guillier, General Secretary Carmignac Gestion
  • Didier Saint-Georges, Managing Director, Member of the Investment Committee Carmignac Gestion
  • Frédéric Leroux, Head of Cross Asset
  • Rose Ouahba, Head of Fixed Income
  • David Older, Head of Equity
  • Sophie Derobert, Head of Human Resources Carmignac Gestion
  • Ivan Monème, Head of Communication Carmignac Gestion
  • Cyril de Girardier, Chief Financial Officer Group
Gouvernance - 509052388v2.jpg

Investment committee

  • Composition : 42 members of the management team: fund managers, analysts and members of the Investment Committee.
  • Role : Carry out a macro and microeconomic analysis to fine tune the investment strategy.
  • Frequency : Daily.

  >> See also Management Team  
What makes Carmignac different?  
The Committee is comprised of all fund managers and analysts. Macroeconomic data, market events and risk factors are discussed every morning and analysed around the table. Fund managers express their opinions on all issues.

Risk management committee

  • Composition : 8 members of company’s staff.
  • Role : Identify, quantify and analyse the risks related to our management.
  • Frequency : Monthly

  >> See also Risk management  
Careful monitoring of risks is at the heart of the investment process.  
We pay close attention to identifying, quantifying and analysing the risks attached to our management. Our committee continuously monitors the risks associated with the investment process applied to each portfolio. It reviews the main indicators and holdings requiring special attention. The Committee studies each new product and the risks that it presents.

At an operational level, Committee members manage risks related to the proper execution of transactions and ensure compliance with internal procedures.  
8 permanent members :

  • Eric Helderlé, Managing Director Carmignac Gestion Luxembourg
  • Christophe Peronin, Deputy Managing Director Carmignac Gestion
  • Maxime Carmignac, Managing Director Carmignac UK
  • Patrick Temfack, Head of Risk Management
  • Jean-Yves Lassaut, Conducting Officer in charge of the Risk Management Luxembourg
  • Tatiana Khorina, Head of Compliance
  • Guillaume Huteau, Front Office Risk Manager
  • Julien Chéron, Fund Manager
Gouvernance- 30177282v2.jpg