Hermès heir calls for enquiry into missing shares after wealth manager's death

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Hermès store. Credits: Unsplash.

Nicolas Puech, heir to the prestigious French luxury leather goods house Hermès, has formally called for an enquiry into the mysterious disappearance of his substantial Hermès shares. This urgent demand comes in the wake of the tragic death of his former wealth manager, Eric Freymond, whose passing was reported last week by the Tribune de Genève and Le Point as a suicide.

In a statement released to AFP via his lawyer on Monday, Puech expressed his sorrow: "It is with sadness that I learned of the death of Eric Freymond, in such tragic circumstances." He added, "I sincerely hope that the circumstances of his death will be quickly clarified by the Swiss authorities." Despite past public and legal disputes, Puech extended his "most sincere condolences to his family."

Puech described Freymond as "a friend and advisor with whom collaboration was always based on complete trust" for twenty-five years. However, this relationship "unfortunately broke down following extremely serious events related to my six million shares in Hermès International, on which full light has yet to be shed," Puech's statement continued.

The 82-year-old Puech, a great-grandson of the Hermès founder, inherited six million shares, constituting 5.76 percent of Hermès' capital. At current share prices, these holdings are valued at nearly 14.5 billion euros. A central, unresolved question in this complex affair is whether these shares were sold during the period when Bernard Arnault, head of rival luxury conglomerate LVMH, discreetly acquired a stake in Hermès.

The case took a dramatic turn in 2023 when Puech, often described as estranged from his family, claimed to be financially ruined. He subsequently filed a complaint against Freymond, alleging that his former wealth manager had employed subtle arrangements to make his shares vanish. While Geneva courts cleared Freymond, Puech, who resides in Switzerland, also lodged a similar complaint in France. "The search for the truth must prevail and be established by the courts, with serenity and rigour," Puech's statement concluded.

Last week, Freymond's lawyers responded to their client's death, stating that the former wealth manager had been "broken by the violence of suspicion."

This article was translated to English using an AI tool.

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