Max-Hervé George
Founder - Chairman & CEO
ABOUT US
We Are Icona Capital Alternatives. As part of SWI Group, we operate with a team of over 20 professionals across our offices in the UK, Luxembourg, Switzerland, and Singapore, controlling and managing over €10 billion in assets. Our team is led by a Board with a proven track record of successful and lucrative investment. Through this personal insight, our research expertise and understanding of constantly developing market trends, we seek to identify and unlock the finest opportunities across Europe, Asia and the United States that can deliver unparalleled results for the long-term. We also possess the ability, agility, and dynamism to give investors the upper hand.

Founder, Chairman and CEO
Founded in 2019 by Max-Hervé George, an experienced entrepreneur, investor, and property developer, Icona Capital Group has grown rapidly into a global leader in investment management.
Learn More about Max-Hervé George
Under Management
Investment Vehicles
Employees
Business Areas
At Icona Capital, our team is driven by a collective passion for identifying exceptional investment opportunities across Europe and the United States. Led by a Board with a proven track record in achieving highly successful and lucrative outcomes, we bring unparalleled insights into the constantly evolving global market landscape. Our expertise in research, market trends, and investment strategy empowers us to discover and unlock the most promising opportunities for long-term growth.
Max-Hervé George
Founder - Chairman & CEO
Bruno Vannini
Managing Partner
Alexandros Morochovski
Global Head of Investment
Roberto Giacalone
Global Head of Liquid Strategy
Federico Reschigna
Vice President
Margaux Hirzel
Global Corporate & Administrative Affairs
Stephanie Aslan
Global Head of Credit
Ivana Hitrec
CFO
Klara Bujdoso
General Counsel
Michala Chatel
Chief Marketing Officer

Max-Hervé George, is a distinguished French entrepreneur, property developer, and a billionaire. He is the Founder, Chairman, and CEO of Icona Capital. Prior to establishing Icona Capital, George co-founded Ultima Capital Group, where he served as a CEO, showcasing his expertise and leadership in the financial and investment sectors. His entrepreneurial acumen and impact have earned him widespread recognition. In 2019, George was named to the prestigious Forbes 30 Under 30 list and featured on the magazine’s cover, a testament to his significant influence in the business world. George was ranked among the top 100 successful young individuals and the 300 richest people by Bilan, a leading Swiss Business Publication. Throughout his career, he has directly and indirectly been involved in transactions worth billions of euros, further affirming his strategic expertise and commitment to driving growth in both private equity and property development.
Expertise
Experience
Associations & Awards
Member - International Judo Foundation

Founder - Ultima Capital


With extensive experience in infrastructure, data centres, and real estate, Bruno Vannini, our Managing Partner brings a wealth of expertise in driving strategic investments and managing complex projects. His professional journey includes senior roles at the top-tier law firms such as SBKG & Associés, Clifford Chance, and Orrick, Herrington & Sutcliffe LLP. In these positions, he provided legal counsel on a wide range of high-profile transactions, honing their ability to navigate intricate legal and business environments within the infrastructure and real estate sectors. In addition to his legal and professional accomplishments, he has held leadership roles within prestigious organizations. Notably, he served as a former Board Member at the Global Trade Centre, contributing valuable insights and strategic direction to international trade initiatives.
Expertise
Experience
Associations & Awards
Former Board Member at Global Trade Centre


Alexandros, or “Alex,” is responsible for leading Icona Capital’s investment strategy and execution. With a background in distressed real estate and structured finance, Alex has structured and managed over €1 billion in assets across various sectors. Before moving to the buy side, he sat with J.P. Morgan within the Special Opportunities division, structuring over €2 billion in real estate lending and loan acquisitions.
Expertise
Experience

Roberto Giacalone is a seasoned macro investor with more than 25 years of experience in global financial markets. Before joining Icona Capital, Roberto held senior investment positions at hedge funds, mutual funds, and proprietary trading desks, serving as Chief Investment Officer (CIO) and board member, among other roles. With over twenty years of market experience and a strong academic foundation in economics, he has successfully navigated four major financial crises, consistently delivering positive results for his clients. Roberto holds a PhD in Economics.
Expertise
Experience

Federico is responsible for sourcing and executing Real Estate deals across Europe at Icona Capital, with a primary focus on data center acquisitions. He brings over eight years of real estate acquisitions experience, combining deep expertise in data centers with a broad track record across logistics, office, and retail. He has worked at PURE DC (Oaktree Capital’s data center platform) and at Thor Equities, where he focused on logistics and data center investments. He began his acquisitions career at Cromwell Property Group, covering office, logistics, and retail acquisitions across Europe. Federico holds an M.Sc. in Real Estate Investment from Cass Business School.
Expertise
Experience

Margaux Hirzel brings a wealth of operational and administrative expertise to Icona Capital. As an Executive Assistant to the CEO, she manages key corporate affairs, ensuring smooth executive operations. Previously, Margaux served as Managing Partner at Ultima Collection, where she played a pivotal role in accounting management, property pre-openings, and overseeing real estate projects to ensure smooth operations. Known for her operational expertise, she is instrumental in coordinating complex logistics and administrative functions, enabling efficient execution at all levels.
Her career also includes roles at Hotel Royal Savoy Lausanne, where she served as Finance Coordinator, overseeing income audits, accounts payable, and receivable processes.
Expertise
Experience

Stephanie Aslan leads Icona Capital’s credit strategy, drawing on her extensive career in investment banking and real estate finance. In this capacity, Stephanie led numerous high-profile real estate single asset and portfolio financings across Europe both at Citigroup and Nomura. Prior to that, Stephanie also acted on the buy-side at Blackstone, as Head of Capital Markets of their logistics subsidiary Logicor where she focused on the successful sale of the unit to CIC in 2017.
Stephanie started her career in the Financial Management Program of GE Capital and has over 20 years of experience in the finance industry. She holds a Master in Management (majored in Finance) from EM Lyon in France.
Expertise
Experience

Ivana has two decades of experience within finance and accounting. She started with the worldwide recognised company, E&Y, and became a financial controller amongst large companies occupying roles such as Finance & Compliance, Board Member and then CFO. She moved to Icona Capital and SWI Group in 2024 where she occupies the role as CFO.
Expertise
Experience

With 20 years of legal experience, Klara Bujdoso is a seasoned advisor specializing in high-value, complex cross-border transactions. Her career spans top-tier international law firms including Dentons and PwC’s legal services, private equity, and senior in-house roles, including serving as General Counsel for Globe Trade Center, a publicly listed company. Based in Icona’s Luxembourg office, Klara plays a key role in overseeing general legal matters for the entire Icona Group. She applies a strategic, business-focused approach to legal advisory, supporting the group’s growth and operations across multiple jurisdictions.
Expertise
Experience

Michala Chatel has extensive experience in marketing, brand strategy, and communications across the luxury, travel, and corporate sectors. Previously, she was Managing Partner at Ultima Collection, overseeing global operations and brand management. She has also held key roles at The Travel Corporation, IATA, Clarins Fragrance Group, and IBM Software Group. At Icona Capital, Michala leads marketing, brand positioning, and communications, overseeing campaigns, digital marketing, and strategic initiatives to strengthen the company’s institutional presence.
Expertise
Experience
Icona Capital’s distinguished board has experience spanning a multitude of industries, markets, and high-value projects.
Arnaud Roy de Puyfontaine
Advisory Board Member
Jaume Sabater
Advisory Board Member
Olivier Jollin
Advisory Board Member

Arnaud Roy de Puyfontaine, Chairman of the Management Board and CEO at Vivendi, is a distinguished and highly respected leader in the global media and publishing sector. With decades of experience, Arnaud has played a pivotal role in shaping the strategic direction and growth of Vivendi, steering the company through periods of transformation and innovation. Recognized for his exceptional contributions, Arnaud has received numerous prestigious accolades, including being named Chevalier de l’Ordre National de la Légion d’Honneur and awarded an Order of the British Empire (OBE). A visionary leader, Arnaud continues to drive industry advancements, fostering a culture of creativity and strategic growth.
Associations & Awards
Chairman & CEO - Vivendi

Awarded OBE


Jaume Sabater is the founder and CEO of Stoneweg Group, a global leader in real estate investment and management, with a strong presence across 7 offices and a dynamic team of over 145 professionals. Jaume has been instrumental in driving the company’s strategic direction and expanding its international footprint, establishing Stoneweg as a key player in global real estate markets. Prior to founding Stoneweg, Jaume Sabater held the position of Director at Banque Privée Edmond de Rothschild S.A., where he specialized in real estate and alternative investments. During his tenure, he played a pivotal role in the launch of the first Swiss Real Estate SICAV (ERRES), a groundbreaking investment vehicle that has since become a benchmark in the industry. .
Associations & Awards
Founder & CEO - Stoneweg Group

Former Director - Banque Privée Edmond de Rothschild S.A.


Olivier Jollin is an experienced executive in the real estate sector with more than 20 years of involvement. He is recognised for his skills in managing high-end financial structuring projects, showcasing his expertise in financial engineering and banking arrangements. Before founding Group Origin, Olivier was the President of Bell Racing Helmets, where he drove the company’s growth and innovation. He is also a mentor at X-HEC, where he has shared his knowledge and experience over the years.
Associations & Awards
Mentor - X-HEC

Founder - Group Origin

At Icona Capital, our values are the guiding principles that define who we are and how we operate in the private equity space.
We pride ourselves on being approachable and fostering an environment where open communication thrives.
At the core of our operations lies transparency and integrity. We believe that openness fosters trust and is essential to building meaningful, long-term relationships.
Innovation is at the heart of our strategy. We continuously seek out fresh ideas and cutting-edge solutions that allow us to stay ahead of the curve and drive meaningful change within the industry.
At Icona Capital, we are more than just a team—we are a cohesive group bound by a shared vision of success. Our culture is relationship-driven, with collaboration and mutual support at its core.
Excellence is the standard to which we hold ourselves accountable. We are committed to delivering the highest quality in every aspect of our work, from the meticulous due diligence we conduct to the strategic insights we offer.