Issue 20

Inside this issue…

1. An interview with Muriel Larieux Tokam Maptue - we discuss career skills, spring week and internship applications, time management, and more!

2. A deep dive into a real-life ‘Succession’ story involving the takeover of luxury conglomerate LVMH

3. A new opportunity from Goldman Sachs!

I hope you enjoy this issue and, as ever, feel free to reach out with feedback and suggestions!

Erin McGurk

An Interview with…

Muriel Larieux Tokam Maptue

Why have you decided to share your advice and experiences with Girl Economics?

I am the older of four, so helping people out and making sure they don’t make the same mistakes as me is second nature to me. I love what Girl Economics stands for and wish something like this had existed when I started university five years ago. In a male-dominated industry, seeing a platform dedicated to young women trying to leave their mark is refreshing. I have amassed a lot of experience over the years, and if one of the things I share can help or motivate others, why not?

You’ve had lots of incredible internships and been part of many highly competitive insight programs. What advice would you give to people starting to apply to these programs?

  • It may seem time-consuming, but it's crucial to tailor your CV and cover letter to each role you apply for. This shows the recruiter that you're genuinely interested in the position, not just looking for any job.

  • When applying for student opportunities, you are bound to receive rejection emails. Don’t take them personally. Remember, each rejection is a redirection towards a better opportunity. It's a chance to learn and improve your application for the next role.

  • If possible, attend as many networking events as you can. That way, you can networkwith students going through the same journey while networking with representatives from the industries you are trying to break into.

  • Most job offers are conditional on you getting a specific grade. Remember to make time for your studies and, if possible, time block a couple of hours in the week for job applications.

  • Resilience is vital in the job application process. There may be moments when you feel like giving up. My advice is to take a break when things get overwhelming. But remember, don't give up until you've received a job offer from your dream role or company. Each rejection is a step closer to your success, so keep pushing forward.

  • LinkedIn is a powerful tool for job hunting. By networking with people on LinkedIn, I've received numerous referrals and been fast-tracked in the recruitment process. Engage with professionals in your target industries and companies on LinkedIn. Like and comment on their posts to show your interest.

Remember, each rejection is a redirection towards a better opportunity. It's a chance to learn and improve your application for the next role.

In your experience, what do you think are the most important skills that people looking to work in economics or finance should have?

Two things are ‘curiosity’ and ‘passion for the industry’. There are various ways todemonstrate these. For instance, attending networking events is a good starting point. Prepare a list of excellent and thought-provoking questions to ask the speakers, and don’t hesitate to network with them after the event. Another way is to engage in industry-related discussions on platforms like LinkedIn, showing your interest and knowledge in the field.

Recruiters are looking for students who are commercially aware now more than ever. Therefore, you must stay abreast of current affairs, especially if you have an upcoming interview. You are already subscribed to Girl Economics, so kudos to you. My favourite way to stay up-to-date with current affairs is by listening to the ‘FT News Briefings’ podcast by the Financial Times. The podcast discusses all things finance, tech, politics, etc, and the episodes are between five to fifteen minutes long.

Another way you can demonstrate your curiosity and passion for the industry is by completing online courses, which you can do via platforms like LinkedIn Learning, Coursera, Udemy, etc.

 

Could you tell us about The Job Seeker Hub and why you decided to start it?

I developed this idea two years ago while preparing for another interview for an industrial placement role. Looking for a job in the UK is a job of its own, and the market's competitive nature does not make it easy. Like everybody, I made many mistakes when applying for jobs, but I felt some could have been avoided had somebody told me about them. The Job Seeker Hub is a platform dedicated to providing valuable resources and support to university students as they navigate their career journeys. Our weekly newsletter, The Job Seeker Hub newsletter, currently has 200+ subscribers, and it discusses anything from writing a stand-out CV to preparing for an interview to networking in the workplace. I am excited to announce our new newsletter series, ‘In Their Shoes’. 'In Their Shoes' provides firsthand insights, guidance, and inspiration from individuals who have triumphed in their career journeys. From navigating the tech industry to excelling in finance, mastering marketing, and pioneering innovation, our guests represent diverse backgrounds and industries. In each episode, we'll sit down with a different guest to delve deep into their career journey, the obstacles they've conquered, the wisdom they've gained, and the advice they have for job seekers like you. Whether you're just starting or aiming for new heights in your career, 'In Their Shoes' offers invaluable insights to help you succeed.

We will soon launch our services offering, including LinkedIn optimisation, CV and cover letter writing, and interview prep.

I have many exciting plans for the Job Seeker Hub and cannot wait to share them with everyone. One of my long-term goals is to secure sponsorships with big companies like HSBC, Bloomberg, etc. I also want to launch a mentorship program for students looking for jobs, and ideally, mentors will be representatives from our sponsors' companies.

I know I have said a lot already, but if you are curious/intrigued and would like to find out, please get in touch with me either on my private LinkedIn page or via The Job Seeker Hub LinkedIn page.

 

You have so many incredible achievements on your LinkedIn, how do you find the time to balance all of your commitments with education?

Time management is critical; do not take more than you can handle. I love planning the week on Sunday evening or Monday morning. Google Calendar and Outlook are my best friends. I use Outlook Calendar to save all school-related events I have to attend in the week and Google Calendar for non-school-related events. I also try to do at least four hours of deep uni work a day, and I like to use Pomodoro YouTube videos to time myself.

 

What are your plans for the future?

I will graduate with my BSc in Economics in July 2024 if everything goes well. My short-term goal is to secure an internship in the finance industry this summer. I am also applying for a master’s degree in finance from universities in London and France. After completing my master's degree, I hope to secure a full-time role with an investment bank,

Got something else you’d like to ask?

If you have burning questions you’d like me to pose to future Girl Economics Interviewees, do reach out on LinkedIn!

A deep dive into…

Succession: Who Will Take Over the LVMH Empire?

Bernard Arnault, the head of luxury conglomerate LVMH, is orchestrating succession plans for his five children to eventually lead the company. Two of his sons are set to join the LVMH board, with the possibility of more family members assuming leadership roles in the near future. The transition comes amid challenges for the luxury sector, and Arnault aims to avoid the pitfalls of poorly managed successions seen in other French business dynasties.

Bernard Arnault took a simple construction company, which he inherited from his father, and turned it into the world’s leading luxury goods firm (and currently the 20th largest company by market capitalisation). In the process, he made himself one of the richest men on the planet. At the time of publishing, he is, in fact, THE richest person alive. But, he is also 75 years old and, despite raising the age limit for his role as Chief Executive of LVMH to 80, is going to need to step down from his role very soon. This leaves a vacuum of power at the top of LVMH which will be filled by one of his children. There is lots of speculation over which child will eventually take over the firm and some interesting developments have emerged over recent days…

Who needs to Keep Up With The Kardashians when you can Analyse the Arnaults? (Sorry)

As a bit of background, LVMH is the parent company of many of the world’s top luxury brands including Tiffany, Bvlgari, Dior, Loewe, Louis Vuitton, Chandon, Guerlain and more 👇

LVMH is operating in a sector which, after years of booming growth, is now experiencing quite a significant slowdown as nations grapple with rising costs of living and, in particular, as China’s growth lulls (China was the primary driver of much of the expansion in the luxury goods market over the past decade or so). This means that whoever succeeds Bernard will need to employ some much more inventive and disruptive strategies than the firm previously deployed, and some analysts feel that this makes it likely that multiple Arnault children will run the firm in tandem.

But who are the people poised to take over? Let’s take a look…

Delphine Arnault

Bernard’s oldest child and only daughter is Dephine who actually began her career as a consultant at McKinsey. She then joined the family business as a deputy managing director at Dior before becoming Vice President of Louis Vuitton and then moving back to Dior as CEO.

She currently sits on the board and the executive committee of LVMH which makes some people believe that she is in prime position to take over the firm as a whole…

Antoine Arnault

Antoine worked through the advertising and marketing side of LVMH, taking on roles at Louis Vuitton where he was in charge of launching campaigns with public figures including Angelina Jolie and Mikhail Gorbachev (quite the range!).

Antoine is also on the board with Delphine and is the CEO of LVMH’s holding company, Christian Dior SE. Again, this makes some people see him as the primary candidate for succession.

Alexandre Arnault

As executive Vice President at Tiffany, Alexandre began his career at McKinsey (a bit of a pattern here!) and KKR. He has been nominated for a seat on the board and will, if the board votes in favour, join it on Thursday this week.

Frédéric Arnault

Heading up the watches division at LVMH, Frédéric is the last contender for succession (Bernard’s youngest son Jean seems to have largely been ruled out). He also started out at McKinsey (seems to be somewhat of a prerequisite at this point!) and then enacted significant modernisation within Tag Heuer - perhaps he could replicate this for the company as a whole?

Why keep things a family affair? The Arnault children have grown up living and breathing LVMH and have been involved in the business for many decades. To insiders, this means they have a far deeper understanding of the business than any external manager could have, however it does open up the risk of emotional ties blinding sound business decisions. Despite this, it looks as though the groundwork’s are firmly being laid for one (or more!) of the Arnault children to take the reins of the company in the not so distant future. Expect slightly more infighting to come!

5 Daily Articles

Opportunity Corner

The "10,000 Women" course from Goldman Sachs gives you ten modules covering various aspects of business management and entrepreneurship. Led by industry experts, the program provides both practical education and interactive activities and if you manage to complete all ten courses then you might be eligible to join the Goldman Sachs 10,000 Women global alumni community. The course is open to all!

That is all for this issue, remember to share Girl Economics with anyone you think would enjoy reading it! See you in the next issue,

Erin McGurk

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