Young, Rich and Swiss - A Profile
A closer look at Michèle Frey-Hilti - Member of the Board at Hilti Group
Dear Insider,
The next generation of the wealthy in Switzerland is growing up…
…and moving forward.
A recent panoramic overview by Handelszeitung profiled 100 of the richest persons in Switzerland under the age of 40.
We bring you even more insights - not only on the people, but also on their businesses, their ambitions and their potential impact on the country for years to come.
The first profiles is Michèle Frey-Hilti…and it’s an interesting one. 💡
Building beyond
The Hilti Group is a global brand, founded in 1941 - with its headquarters in one of Europe’s smallest countries: Liechtenstein
As a construction machinery and system supplier, it employs over 20’000 people in more than 100 different countries. Not bad for a firm based in…Schaan.
Of course, the backstory of its success - and that of Michèle Frey-Hilti - is about family.
As the grandaughter of the group’s founder, Martin Hilti, Michèle has been “destined” to move up in the company ranks from early on.
And yet, her career path has actually been quite normal - sort of.
A degree in International Events Management from the European Business School London gave her an elite educational (head)start.
But from there, she went back to business at a much lower level - starting out as a Customer Service Rep and later working as Product Manager, both good vantage points for learning the business from the ground up.
After learning the “nuts-and-bolts” of Hilti, the 3rd-generation Hilti made a lateral move into a managerial role at the Hilti Foundation - one of the essential (and active) elements of the group.
While serving as Managing Director, Michèle led the charitable activities of the Foundation - among other things its engagements in supporting the arts and providing affordable housing and global emergency relief.
Giving and getting
The Hilti Foundation - as well as the family branch, the Hilti Family Foundation - gives the company a reach and a character beyond the building and construction industry.
And Michèle Frey-Hilti is the (young) face of it.
In a country as small as Liechtenstein, supporting culture and making a good impression at the same time might not seem like much of “an art” - but the Hilti family has done it well.
From the Liechtenstein Symphony Orchestra to the Hilti Art Foundation - the name is everywhere.
People power
💡Insider Insights
Liechtenstein has long lived in the shadow of its larger neighbors - Switzerland and Germany as well.
But as Hilti Group clearly demonstrates - small companies (in small countries) can do very well.
Michèle Frey-Hilti clearly demonstrates two essential dynamics of family business in the region.
Loyalty - no matter what experience, no matter what your education, if you are part of the family - you are destined for greatness. One the one hand this guarantees continuity. On the other hand, it ensures the perpetuation of a secretive, close-knit Führungsgruppe.
Innovation - choosing “one of your own” doesn’t seem to foster progress. But the barriers to innovation with a firm often come from the personal frictions of “outsiders” trying to force new things on the old guard. By promoting internally - in the family - Hilti and other Swiss firms like it can avoid the ego trap that so often hinders innovation.