Pierre Ricq, you are a lecturer at ISFB and Program Director of the ISFB Family Officer Certificate, an innovative program for professionals working in a family office. Can you tell us about your background and what led you to design such a program?

My banking experience spans more than 16 years, mainly working for family offices in Switzerland and Europe. Over the years, I have observed a significant evolution in the banking offering for this client segment. With the rapid growth of the sector, more and more wealth managers are leaving the banks to join independent structures such as Single Family Offices (SFO), Multi Family Offices (MFO) or External Asset Managers (EAM). High-net-worth clients prefer these One-Stop Solution models, to benefit from a long-term relationship with a single point of contact capable of managing, controlling and consolidating their assets.

This program, unique in Switzerland, enables participants to work alongside top-quality local experts, each specializing in a key area of the family office. It is against this backdrop that we have designed a course combining theory and practice, to meet the sector's need for professionalization. In just 6 ½ days, this certificate provides a global vision of the main challenges facing the Family Office, while facilitating the creation of a solid network of professionals.

Thanks to the expertise of these contributors, participants benefit from a rich learning experience rooted in the realities of the sector, enabling them to develop the essential skills needed to evolve in a complex and demanding environment.

What are the major challenges facing family offices today?

Today's family offices face complex challenges, particularly in managing the interests of wealthy families over several generations. Each family has its own particular DNA, and so each family office operates differently. Family governance is a key element, as it must harmonize intergenerational visions and ensure cohesion within the family. This involves not only the transmission of values and estate planning, but also conflict management to ensure the continuity of assets.

Another major challenge is investment management, where the balance between capital preservation and growth is crucial. Direct real estate, in particular, plays a central role, offering both stability and long-term value, while diversification into assets such as private equity is also necessary to maximize returns.

At the same time, cost control, particularly with service providers such as banks, is becoming fundamental to maintaining the profitability of family offices. Rigorous management of these relationships not only helps to reduce unnecessary costs, but also to negotiate more favorable terms.

Finally, digital transformation is a key challenge: new technologies, such as artificial intelligence and data analysis, offer powerful tools for optimizing asset management and strengthening the security of family information.

Who is this program for, and what are its specific features?

This program is designed for professionals working in the family office sector, whether they are from single or multi-family offices, independent asset managers, bankers, lawyers, brokers, trustees or even academics wishing to move into this field.

It aims to provide participants with the skills they need to stand out in a highly competitive environment. The modules on offer cover a wide range of topics, from investment strategies to real estate management and estate planning. The course also includes topics such as credit solutions and the integration of philanthropy into the family structure, not forgetting the use of digital tools to facilitate asset consolidation and management.

By training the professionals of tomorrow, this certificate contributes to raising the industry's standards and reinforcing its professionalization. This trend is confirmed by the recent SGF-HSG 2024 study, which highlights the fact that many single family offices are calling for the introduction of a regulatory framework to protect family structures and ensure the sustainability of the Swiss financial system. With no international standard to date, Switzerland could become a pioneer in this sector. This program will prepare you to play an active role.

Modules and speakers :

• Family DNA: Monica Espinosa (Union Bancaire Privée - UBP)
• Governance: Honora Ducatillon (Pictet)
• Wealth Management: Charles-Henry Monchau, CFA, CMT, CAIA (SYZ Group)
• Private Markets: Aurélie Maillard (BlackRock)
• Hedge Funds: Sherban Tautu (Ten Edges)
• Credit Solutions: Yannis Eggert (Resolve)
• Real Estate: Yves Cachemaille - MRICS & Vincent Leroux (CBRE)
• Legal & Risk: Aline Fournier (Geneva Compliance Group)
• Wealth Planning: Alexandre Bardot (Lemania Law)
• Philanthropy: Etienne Eichenberger (WISE)
• Digital Tools: Ludovic Regard (Lombard Odier)
• Private Office: Nicole Curti (Capital Y)

Pierre Ricq

Director of the Family Officer Certificate and Senior Family Advisor (UBP)