Gerardo Duplat, from La Française, is our Sales Manager of the Month

Gerardo Duplat is Head of Business Development for Europe, LATAM and Middle East at La Française. He is Colombian by birth, although he has spent almost half of his life in Europe, as at the age of 20 he went to study in France. There he studied his Master's degree in Finance and Corporate Strategy at Sciences Po University. In 2006 he joined Ofivalmo as International Sales Manager for Italy and Spain, and in 2009 he joined the small team of La Française, as International Sales Manager for Iberia and Latam. Since September 2020, he is also in charge of the Business development for Europe, LATAM and the middle East.

When and how did you start your career in the financial industry? Did you have any other vocation?

I fell in love with the stock market when I was seventeen. At the time, I was an exchange student in Iowa (U.S.) during my senior year in high school, and my host family was running an IFA in Minnesota. Consequently, I watched financial news on the TV and listened to stock market updates almost all the time. 

I started my career at the trading desk of what is today BBVA in Bogota. Thereafter, I moved to Paris and joined ADI Alternative Investments (an independent hedge fund manager specialised in Merger/ Credit and Convertible bonds arbitrage strategies). I experienced first-hand the 2008 crisis as ADI basically closed after Lehman. And then, La Francaise came along.

How does a normal day as a Head of Business Development Europe, LATAM and Middle East at La Française look like? How do you organise yourself?

As in most companies, Mondays are basically dedicated to meetings, namely a weekly videoconference with the international business development and marketing teams to highlight recent and upcoming commercial activities.  Tuesday to Thursday, I generally make a point of being on the road: face to face meetings with investors and prospects, roadshows, conferences/events etc. We are extremely active and organise roadshows across Europe on a regular basis, so every week we’re in a different country. I try as much as I can to be on the ground to have local views.  

Keeping abreast of current financial and economic events requires time and concentration. I try to save at least one hour a day for that. Our industry and strategies are all very global. Events happening across the globe can and do impact our business.  For example, what’s happening with property developers in China, Tech Small Caps in the US, Subordinated Bonds in Europe or a Crypto stablecoin going under. 

What is the most interesting part of your role? What do you enjoy the most?

The best part of my job is interacting on a weekly basis with professionals from more than 20 countries. Interacting with so many cultures and travelling to so many places is one of the most enriching experiences to be had. Realising how different we all are is a humbling lesson that never ceases to surprise me.  

Which assets do you think will perform best during 2022 considering the current volatility in the market?

So far this year, the only strategy that has worked well is being Short of anything. Everything from Govies, to IG Credit, Equities and HY is down this year. It’s one of those years when it’s very difficult to make a call in terms of which asset class will eventually rebound more. 

That being said, we believe Investment Grade Credit is becoming interesting finally, as well as Cocos given the low default rates (they trade similarly to deep HY). Once there will be a bit more of clarity as to whether we’ll have a soft or hard landing globally speaking (not only in the U.S. but also in China, which still has to reopen and in regards to the Russia/Ukraine conflict), we see potential on US Small Cap Growth companies which have had one of their worst years ever, along with Asian High Yield which has also suffered probably the worst year in history, mainly due to surging defaults of Chinese property developers. 

In your opinion, what are the key drivers for successful fund distribution?

Fund distribution used to be (and still is of course a lot) all about AUM (size) and ratings (i.e., Morningstar stars). Today, there is more room for new thematics, niche strategies and Alternative Real Assets such as Real Estate or Private Debt.  Storytelling (a valid investment strategy in today’s inflationary environment for example) and innovation play a big part. But in the end, it’s all about relationship building and asset management is a business of people. A transparent and responsive relationship with clients in good, but especially in difficult times, is the foundation of long-term relationships. 

How would you describe yourself in 3 words?

Passionate, Perseverant and Open.