Who we are

NCM History

NCM is a Swiss company, founded in 2015 in Geneva to provide private investors with fully dedicated asset management services and throughout alignment of objectives and interests

What we do

NCM has developed a real know-how in antifragile portfolio construction built around a specific expertise on Derivatives, Gold and precious metals broadly.

Licensed by FINMA as a manager for collective assets, we manage almost CHF 1 billion in client assets.

Our expertise is available in 2 formats:

Portfolio Management

Advisory services & managed accounts for UHNWI and Family Offices

Investment Funds

3 Swiss-domiciled funds actively managed to generate alpha

What is antifragility?

Antifragility is a concept introduced by Nassim Taleb.

While fragile systems collapse in a crisis and robust models simply withstand it, a third category – antifragile strategies – are able to take advantage of chaos to thrive.

In the current period of extreme economic and geopolitical uncertainty, it is important not only to be resilient, but more importantly to turn this volatility into an ally. 

In practice, this translates into strategies that combine a decorrelated asset base, capable of resisting “black swans” and representing the core of the portfolio, with a flexible and opportunistic investment component.


Our primary mission is to preserve your capital, while growing it progressively and permanently. This is why risk management lies at the heart of our investment process, bound with your performance objectives. In an ever-changing world, quantitative and qualitative approaches, diligence, as well as transparency are the key pillars to guarantee your peace of mind.

Our Team

Hans Ulriksen | CEO/CIO Portfolio Manager

After obtaining a Master in Finance from Suffolk University, Boston (USA) in 1999, Hans has spent the following 23 years working in financial markets related fields, mainly on equity and cross assets derivatives trading desks before moving to the portfolio management industry. At the managerial level, Hans headed a leading French Private Bank trading floor in Switzerland and then served as CIO in several asset management boutiques. He joined Noble Capital Management in 2017.

Christopher Boudin de l’Arche | Deputy CIO Portfolio Manager

Graduated in 2007 with honors from a Master degree in Market finance at French University of Nice – Sophia Antipolis, Christopher spent the following 8 years within a leading French Private Bank, first as a Structured products and derivatives specialist and then as Deputy Head of the Discretionary Portfolio Management department. He joined Noble Capital Management in 2015 as a Portfolio Manager and Investment Advisor. Along with his professional experience, Christopher teaches since 2010 Market finance in two French Universities at the Master degree level.

Pierre Mahon | Risk & Compliance Officer

Pierre graduated in 2009 with a Master of Science in Statistics, including a risk management and financial engineering specialization. He has an extensive experience in the field of risk management and compliance, which he has acquired over the last 12 years through senior positions in several Swiss banking institutions. He joined Noble Capital Management in 2020 as head of Risk and Compliance.

Charles Gueriteau | Portfolio Manager

Charles studied applied mathematics and computer science, and then completed his cursus with a master’s degree in market finance at the University of Caen in 2016. After several internships at Fidelity International and BNP Paribas in New York and in Paris, he joined Métropole Gestion, the Paris based Asset Management company. As an Assistant Portfolio Manager, Charles developed a stocks picking Value approach. In 2021, Charles joined Noble Capital Management portfolio management department.

Karel Van Der Ben | Middle Officer

Karel joined Noble Capital Management (NCM) SA in January 2021 as Middle officer and Risk Analyst. Prior to joining the company, Karel was working in a single-family office alongside his academic master thesis research. He holds a Master’s in Finance, Financial Entrepreneurship and Data Science from HEC Lausanne and a Bachelor’s in Management and Commodity Trading from the Geneva School of Applied Science.

Stéphane Barbier de la Serre | Head of Business Development

Stéphane Barbier de la Serre is a graduate of the Institut d’Etudes Politiques de Paris and holds a Master’s degree in Management of Financial and Banking Institutions from the University of Paris Dauphine. He has more than 30 years of experience across asset classes (commodities, equities, FX) and lines of business (institutional sales, advisory, market analysis). He joined Noble capital Management in 2023.

Nicolas Ganne | Portfolio Manager

After obtaining a Master in Finance from Kedge Business School in 2007, Nicolas worked for 10 years in Europe and Asia in structuring, quantitative strategy and equity derivatives teams at a leading French bank. Before joining NCM, he was a senior broker and derivatives trader at a major US brokerage company. Nicolas has more than 16 years of experience in derivatives trading and cross-asset market analysis, with extensive knowledge in technical analysis and behavioural finance. He is a certified Technical Analyst (CFTe). He joined Noble Capital Management in 2023 as a Portfolio Manager.

Board of Directors

Gustav Koskull | Chairman

Gustav graduated from Webster university in 2002 and has been working for 20 years in the investment and financial sector, amongst other with two leading French Private banks in Switzerland. He founded Noble Capital Management (NCM) SA in 2015 and took the position of Chairman of the Board of NCM in 2021. He is currently running a Family Office in Geneva, as well as holding various Board of Director positions.

Yann Wermeille

Yann obtained a DES in Criminal Law and a Law degree at the University of Geneva and is a CFA charterholder. He has been active in the financial sector in the areas of private banking, asset management, investment funds, capital markets and investment banking. He began his professional career with two banks in Zurich before moving to the Swiss Financial Market Supervisory Authority (FINMA), where he was a Member of the Executive Board and in charge of the Markets Division. He also co-founded an Asset Manager of collective investment schemes as well as a Swiss SICAV before going on to launch an active ownership fund. He is currently a Member of the Board of Directors of numerous companies.

Didier Darcet

Didier is co-founder of Gavekal Intelligence Software and has been managing money since early 1990. He successively moved from the derivative trading space, to hedge fund management, and global asset management. He was Treasurer of Bank of America Paris, then head of interest rate arbitrage and prop trading at Bank of America London in the 90s. He founded Insight Finance in 2000, an equity arbitrage quantitative hedge fund, and managed the portfolio until 2006. He then turned to global portfolio management within Renaissance Capital and joined Gavekal in 2014. Didier has a double background in nuclear physics from Supelec –Paris, France- and in political sciences from Science Po –Paris, France.