Pierre Théobald: You left Luxembourg in 2013. At the time, what motivated this choice?

Carla Dupont: At the age of 16, I made the decision to move to England to take an international baccalaureate. I grew up in Luxembourg City, where I went to primary school and then to the Athénée. I was a rather shy child, with little self-confidence. At 16, I felt the need to get out of my comfort zone.

Why England? That's a good question. The truth is, I chose a school rather than a country or a city. The school was in Oxford, a lovely little town about an hour from London, and the course was two years long. Everyone started and finished the course at the same time, and we all slept there. It was difficult to get started: the school system was very different and I didn’t know anyone. However, I quickly found my place and blossomed in this new environment. Today, I’m convinced that going abroad was the best decision of my life. I have since lived in seven countries.

In detail?

After England, I went to Spain for a four-year bachelor’s degree, during which I spent six months in China and another six months in Germany, doing work placements in Frankfurt and Munich. After that, I worked in Switzerland and Belgium, and I’ve now been in France since 2022.

Why didn’t you stay in England after the baccalauréat?

I applied to universities in England, but also abroad. The IE University that I joined in Spain was different in that it was organised in classes of around thirty students, like high school. I quickly felt at ease there, more so than I would have in a more impersonal lecture theatre. There were practical projects, like creating business plans. I was immersed in an atmosphere of American culture and American university life, but in Spain, with the advantages of Spain: the weather is good, the people are welcoming, the food is good, the cost of living is affordable...

Without these international experiences, would you be the same professionally speaking?

Certainly not. The first phase in England gave me a lot of self-confidence; I gradually left behind my shyness and became more independent. But there were some difficult moments. In China, for example, I arrived without a place to stay. I got in touch with someone on Wechat, and she showed me around different types of accommodation. The great benefit is that since I was 16, I’ve discovered a lot of different cultures.

Did leaving save you time?

I think so. And don’t forget that I started working in my field very early on, so I’ve already been able to gain quite a bit of experience. I’m still young, but I’ve matured. My time abroad has opened my mind and enabled me to acquire interpersonal skills and adaptability, which are advantages.

Was the decision to leave Luxembourg difficult?

At the time--and at my age--it certainly wasn’t an easy decision. But I’ve never regretted my decision to leave, and I still have a strong link with Luxembourg, both personally and professionally. I have kept one foot in the grand duchy and for the past three years I have sat on the board of Converginvest Capital Partners, an alternative investment fund manager investing in private equity funds.

How was your choice received amongst your family?

My parents always supported me in what I was doing. Their only fear was that I was in danger of losing one of the great assets of a Luxembourg education, which is a good command of German and French. In the end, my stays in different countries enabled me to maintain or even improve my level.

Your first posts were in Brussels and near Zurich. Were the attractions of Paris a factor in your decision to relocate there?

The job mattered more than the city to live in. It was an opportunity, I wanted to join IK Partners and be where things are happening in private equity. Paris is the perfect ecosystem to create the network I need for my job. Here, I leave the office and there are lots of banks and funds right next door. The charms of the city are a “plus,” but it wasn’t decisive.

How did you manage to fit in and make your mark when you arrived in Paris?

I was lucky enough to already have a few friends here, which helped my integration enormously. As a keen sports fan, I’ve found that it’s a great way of meeting people and forging links. Thanks to these activities, I’ve been able to widen my social circle and even start to build a small professional network. Finally, as Paris is an intrinsically captivating city, friends visit me frequently, which allows me to stay close to my surroundings whilst fully integrating here.

What challenges have you encountered as a Luxembourger abroad?

As a Luxembourger, multilingualism is clearly an asset, but it comes with its share of challenges. I’ve always tried to speak the local languages, but I still have a slight accent, which is unavoidable, and I’m always obliged to speak a language that is not my mother tongue, which--in front of management teams--could be intimidating. However, over time, I’ve come to realise that the people I’m dealing with don’t pay that much attention to this, and tend to appreciate the effort made to express themselves in their own language. This realisation helped me to gain confidence. But it was undoubtedly one of the biggest obstacles I had to overcome at the beginning.

What cultural differences between your host country and Luxembourg have made the biggest impression on you?

Let’s be honest, we’re a lot closer to French culture than we sometimes like to admit. But there are still things you have to learn to live with, like the famous strikes--a real national sport here! After a while of adjusting, I think I’ve even developed a little talent for grumbling myself!

I gradually left behind my shyness and became more independent.

Carla Dupont

What recommendations would you give to a Luxembourger looking to move abroad?

Honestly, if you’re young, go for it and spend a few years outside Luxembourg! It’s an incredibly enriching experience that will allow you to broaden your horizons and grow in every way: culture, experiences, encounters, resourcefulness... The advantage is that you always have this door open to come back to Luxembourg. So you might as well take the opportunity to discover something else first.

Even if you’re not at the other end of the world, what facets of your native country do you miss most on a daily basis?

There are things I miss, such as the ease of everyday life in Luxembourg. It may seem trivial, but knowing everyone--from the doctor to the hairdresser--is a real luxury. You don’t have to look for long, everything’s at your fingertips and that’s reassuring.

And what Luxembourg traditions and habits have you kept abroad?

I come home with Bamkuch [a cake in the shape of a ring] after every trip to Luxembourg.

How would you describe Luxembourg to your foreign contacts?

Luxembourg is a small, dynamic country where everyone knows each other in one way or another. Although we are a small territory, we have great cultural and linguistic diversity and real dynamism, particularly on the economic front.

How do your Parisian friends and family view the country?

Of course, I always hear the same jokes about the size of the country and all the stereotypes that go with it. But on the whole, I think people have a pretty positive view of us, not least because of our open, cosmopolitan mindset and our ability to speak three or four languages fluently.

I’ll ask you in a different way: what preconceived ideas about Luxembourg do you think need to be corrected?

One of the stereotypes that needs to be corrected is the idea that Luxembourg is a real tax haven. Luxembourg is a country with a stable and attractive tax framework, of course, but that doesn’t mean that its residents and businesses escape taxation. In fact, we are a particularly business-friendly country, which has been one of the key drivers of our economy and should be seen in a positive light, as few countries have managed to create such a business-friendly environment.

To what extent do you feel like an ambassador for Luxembourg?

I love my country and I'm proud to be Luxembourgish. Our ability to create such an international and inclusive environment is quite unique. Compared to other countries, we are less chauvinistic--I’ll come back to that--and this is reflected in the diversity of our population and our exchanges.

How has your exile changed your approach to your Luxembourg identity?

My experience abroad made me realise just how unique our Luxembourg identity is.

What is your view of Luxembourg from Paris?

I think Luxembourg has a great opportunity to seize, especially at a time when some countries are going through turbulence, such as the Brexit in the UK or the current political instability in France. Luxembourg could become an even more attractive hub for the financial industry and other key sectors. By taking advantage of these external challenges, we could attract the talent needed to drive further growth and strengthen our position as an international financial centre of choice. Our political stability and business-friendly environment are major assets in attracting investors and professionals from around the world.

Seven destinations in 12 years, you reminded us earlier. If you had a magic wand, which destination would you like to add to your list of achievements?

I’ve always wanted to go to the United States. But then covid came along and that complicated things. Not to mention the political situation there now, which doesn’t appeal to me very much. If I could telework all year round, I’d choose South Africa! Alas, I don’t think that will be possible [she smiles].

Would you be able to return to live in Luxembourg in the future?

Never say never!

World citizen

Now 29 years old, Carla Dupont has been working in Paris for the investment fund IK Partners since 2022, where she’s currently an associate director in the investment team. She also sits on the boards of three companies in France and the UK. Previously, Dupont, who has a passion for Hyrox--the discipline that combines running and crossfit--worked for Cobepa in Brussels and Partners Group in Switzerland, not far from Zurich. After completing an international baccalaureate at Oxford, she went on to study at IE University in Spain, where she earned a bachelor’s degree in business administration.

“My days are never the same”

“I’ve always been interested in private equity because you get an A-to-Z view of a project. You don’t just focus on the legal and financial aspects, you also have access to the strategic and relationship aspects,” explains Dupont, who has been working at IK Partners in the eighth arrondissement of Paris since 2022. “Being in a generalist fund, I deal with lots of different industries, which means that even if the job remains the same, my days are never the same.”

This article was written in  for the  of Paperjam magazine, published on 26 March. The content is produced exclusively for the magazine. It is published on the site to contribute to the full Paperjam archive. .

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