Mon 16 Apr 2018
News - Getting to know better: Edoardo Picco
Edoardo Picco
Edoardo is a manager with a wide experience in Italy, Luxembourg and Ireland in the bank system, his focused is in asset management services and investment vehicles.
He is a general manager in Luxembourg, in a management company owned by a listed Italian bank, and the Ceo in Ireland.
The last 15 years he's been acting as advisor in private equity and m&a deals, offering support to small family office, club deal and investment companies that need Luxembourg solutions. He is an Indipendent Director, certified at Insead and ILA, he is a board member ( ex and non ex ) in several Luxembourg companies and also in entities supervised by the CSSF.

What are in your opinion, the key attributes for a Director?
A good Director should have at the same time the capacity
To listen
To talk
To share
That means that a Director should be openminded , with a continuous attitude to listen the other Board Members reasons and suggestions.
To always talk honestly and directly, trying to give colleagues the impression he is fully committed on the Board duties.
To share experiences, goals and sometime failures with other Board member, with the aim to build together a stronger and clever Board.

What do you think makes a great Board?
A great Board is composed by great members.
It seems to be a joke, but the simple reality is deeper than how appears.
An important USA corporate advisor used to say “ keep it simple and stupid “ (kiss method ) just to say that the more you try to simplify the problems and to disassemble the situation in simple step to take, the more you can effort huge milestones.
A great Board is a mix of experiences, humanity, openness to the challenges.

What would you change to improve the effectiveness of Luxembourg Boards?
Again, a Board should simplify the processes.
In a world where complexities are becoming more and more a leit motive for the business, a Board should support the company by using an approach focused on:
Let the information chain shorter and effective
Let the answer time to a problem shorter and straight to the point
Let the management have updated guidelines

What is the best or worse business decision you have ever made, and why?
When Board member in a family company and facing a generation changes moment, I made my best decision to let all family members to write their own reasons, goals and future business vision, then I put together the common points I found in every single report, so I demonstrated them they had the same vision with only some different perspective.

What does the outlook of Luxembourg look like, 10 years from now?
If Luxembourg will still continue to improve its own capacity to be an European hub with high skills and international profiles, it maybe will still remain one of the most important financial location; but to improve this the government needs to stay openminded and market oriented.

How can ILA contribute to the economy, better boards and society?
As ILA is offering his services to Board members and professionals, by giving a continuous improvement of the skill and updating knowledges and experiences, by default this means to have better Board members.
Better board member could contribute to a better company , and better company means nowadays attention to social problems , enviroment, diversity,.etc.etc.