Nicolas Icard (SKEMA 2016) Market Risk and Treasury at LVMH - “Passion is the cornerstone of success”

Nicolas Icard, a graduate of the Class of 2016 currently working in Market Risk and Treasury at LVMH in Paris, answered SKEMA Alumni’s questions.

Could you introduce yourself and tell us about your professional journey so far?

As part of my studies at SKEMA and my Financial Markets & Investment (FMI) specialisation, I did a few internships in finance in the corporate and banking sectors. My final year internship at LVMH in back- and middle-office treasury confirmed my fondness for market risk management in a corporate environment. I started my career in financial auditing at EY to hone my knowledge of corporate finance and learn a way of working that combines accuracy and speed of execution. I then joined the LVMH group in the Financing and Treasury department as market risk and treasury manager.

What does your work at LVMH involve?

Within the team, we sit across the holding companies, the subsidiaries of the LVMH group, and we look after financing and aspects relating to treasury and foreign exchange risk. One of my main duties is to manage currency hedging for the group’s subsidiaries based on their budgets and our policy for action on the markets. This management includes valuing financial instruments and preparing a number of market watch reports to analyse the risks associated with our exposure and investments. We also manage the financing needs and the different acquisitions of the LVMH group’s holding companies.

Why did you choose to work for this company?

I had always been drawn to the LVMH group because of its excellence and the multitude of subsidiaries within the group. Besides being the global leader in the luxury goods sector, LVMH contributes to France’s reputation around the world and the group preserves French know-how in many areas. It is always easier to work in a field and to be interested in it when you can identify with the company’s values and you share its vision. The strength of the LVMH group lies in its dynamism and its constant drive to grow and to reinvent itself through its different subsidiaries. That is even more interesting when you have to manage the different acquisitions.

In what ways did the school and the training you received there help you at the start of your career ?

I chose SKEMA for two reasons: its Financial Markets & Investment specialisation, and the possibility of studying on an overseas campus as early as the second year. These two elements enabled me to tailor a study path that would make me operational quickly once out on the job market. My two years in the United States on the Raleigh campus allowed me to improve my English while discovering a new culture. The different classes I took during the last year of my specialisation were also pivotal to obtaining my final year internship.

What were the reasons behind your choice of career?

At the end of my second gap-year internship, I realised that I wanted to work in the finance department of a large company, because I really wanted a concrete approach to finance, with a business dimension. So I chose to intern at LVMH in treasury. During that internship, my manager advised me to start my career in auditing in order to develop a way of working that is valued in corporate environments and more particularly in treasury positions. I kept in touch with him after my internship and I didn’t hesitate when he contacted me to invite me back into his team at LVMH.

What is the best piece of advice you ever received and the one you would give a student or fresh graduate wanting a career in luxury?

The best piece of advice I ever received was to never give up on my career aspirations. This can seem obvious, but there isn’t just one path that leads to a particular job, and career paths that are unusual or that may at first glance appear to be unrelated can sometimes lead to the same types of positions. As for the advice I would give, it doesn’t apply to the luxury industry alone, because the latter doesn’t require a single specific quality - on the contrary. The creativity, innovation, excellence and know-how of the luxury houses require passion above all. To me, passion is crucial because it allows you to push your limits and to understand a lot more easily the different challenges inherent in a particular sector or position.

Do you keep in touch with the other alumni/the alumni network?

I mainly stay in contact with some of the friends I met during my American years, and I got the opportunity to get a friend/alumnus a job at EY before leaving my auditing position.

Your fondest memory of SKEMA?

My fondest memory will always be the years I spent in the United States. The possibility of travelling across the country and discovering a new culture was an enriching experience. To me, it is important to really use your study years to travel, to discover new horizons, and in doing so realise how lucky we are to be able to live in France.

What are your plans for the future?

With three years of experience now under my belt in treasury at LVMH, I’d like to continue to advance within the group, with the goal of joining the front office of a company in three to five years.

Contact: Nicolas Icard, Market Risk and Treasury at LVMH