Currently, global financial markets are meeting new obstacles every day. Folks who can be considered frontliners while the economy was taking a big hit are now undergoing a renaissance, as they rise again. Loic Fery is one of those people.
The 45-year-old works as the CEO of Chenavari Investment Managers, and his net worth is at $5.5B. When the economic crisis jostled the market, Fery just launched his career and began making sales. At the moment, he is determined to make a profit out of all his hard-earned dough.
Launching his career in the middle of a crisis
Back in 2007, when global markets were getting hit by the financial crisis, Fery was establishing himself in Europe’s trading world. He was only 33 years old when he became the Global Head of Credit Markets in Calyon—the investment branch of Credit Agricole.
Fery, at that time, oversaw 200 traders who were about to contend with the best firms of London and New York. Due to some reasons, Fery had to let go of his job.
When times were hard, he picked himself up started again
As the crisis was still ongoing in 2008, Fery attempted to rebuild his career from scratch. He only had $50M in the form of capital and made a team out of his former coworkers. Eventually, a trader named Frederic Couderc—currently at 45 years old today—co-founded Chenavari.
The goal of establishing the company was initially aimed at making money through wagering on recovery credit markets. Fery’s project got praise from many folks, and he received lots of investments, which he then turned into huge profits. The business took many names and developed further.
Facing Coronavirus—as if the recession wasn’t enough
Fery, who is now a major player in the investment arena, wasn’t prepared for the pandemic. Still, he was able to pull himself through, and his firm even makes a lot of money until now.
Fery’s opinions about the outbreak are related to the uncertainty of the market. There is a possibility that the majority of the global markets could be on the verge of another recession. As if the death toll of humans isn’t enough, the world markets are now also suffering various difficulties, with many businesses shutting down. The worst part is that these effects might be everlasting.
Moreover, Fery stated that a lot of the central banks still haven’t come to lend their support in the ongoing situation and are just trying to examine it silently.