The Firm


Giverny Capital Inc. manages private accounts for its clients. Our investment philosophy is based on the long-term ownership of outstanding businesses through common stocks purchased at attractive valuations.

The cornerstone of our approach is to have our clients and the portfolio manager in the "same boat". So we buy for our clients the same securities as in the personnal portfolio of the money manager (the Rochon portfolio).  We believe in making money the old fashion way: through the long-term stewardship of client assets invested in great companies.

The Name Giverny

A lot of people have asked us: "Why the name Giverny?"

Giverny is the name of a small town in France, north of Paris, where the famous painter Claude Monet lived from 1883 until 1926. Over the years, he built one of the most beautiful gardens in the World, which became the main subject for his paintings in the latter part of his life.

There are two reasons why I named the company "Giverny". First, it was in honor of Claude Monet and his creations, both his garden and his paintings. Second, I often compare the craft of a money manager with that of a gardener: To have a great garden takes decades, not a few months. To successfully grow great trees and flowers, you have to understand your environment and capabilities (you can't grow the same flowers in Quebec than in Florida). You have to know the soil, the temperatures, the orientation of the sun, etc. And to build a garden is a dynamic process: you have to continually take great care of your plants.

But the most important ingredient of all is PATIENCE. As I always say: "You won't get much of a garden, if you remove a tree after six months because it hasn’t grown fast enough". A portfolio needs the same patience. Great companies weren't built in a few years. Like trees, they need decades to blossom.

Francois Rochon


Visit the Internet web site of the Claude Monet institut at Giverny

The Team


François Rochon

President and Portfolio Manager

Francois Rochon was educated as an engineer at the École Polytechnique of Montreal.  After graduating with his Masters Degree (in Science), he worked as a researcher and network engineer for INRS-Telecom and Teleglobe Canada.

Following his lifelong passion for investing, he decided to focus his career on professional money management.  After managing family accounts between 1993 and 1996, he joined Montrusco & Associates as an analyst and was then promoted to Portfolio Manager.  At Montrusco, Francois managed US accounts totaling more than $250 million.

In December 1998, Francois founded Giverny Capital in order to offer investment management services to clients based on his investment philosophy of owning outstanding companies for the long term.

Francois has writen a regular investment column in the magazine "Les Affaires Plus" and has been interviewed by MSN Money and a number of television programs such as “Capital-Actions” on the RDI network .  He also had a column on and La Presse's web site for a few years.  Now you can watch his weekly video presentations on and read his column in "The Gazette" on tuesdays (twice a month).

A chapter in Andy Kilpatrick’s book, “Of Permanent Value: The Story of Warren Buffett” is written about Francois’ career.  

He also sits on various boards of directors.


Jean-Philippe Bouchard

Vice-President and Portfolio Manager

Jean-Philippe Bouchard graduated in finance from the John Molson School of Business at Concordia University.

He joined Giverny Capital in 2002 as a financial analyst. Jean-Philippe was named Vice-President in 2004 and Assistant Portfolio Manager in 2006.  He is also the chief compliance officer. 

Jean-Philippe Bouchard has also written for the magazine "Les Affaires Plus" on a number of occasions.


Karine Primeau

Administration Director & Associate

Karine Primeau graduated in accounting from the Université du Québec à Montréal. She started her career at Raymond Chabot Grant Thornton with the private wealth management dvision.

Karine joined Giverny Capital in 2005 as an Account Administrator.  She was promoted to director in 2010.




Nicolas L'Écuyer

Business Development Director & Partner

Nicolas L'Écuyer graduated from École Polytechnique of Montréal and later earned a Masters in atmospheric science at Université du Québec à Montréal. In 1993, he started his career as a meteorologist at MétéoMédia and then joined their sales and advertising team in 1998.

He joined Giverny Capital in 2005 as Business Development Director.

Nicolas L'Écuyer is also a World Class bridge player. He was Canadian champion in 2000, 2003, 2008, 2009 and 2012. He regularly plays for Canada in international tournaments.


Sandra Saubat

Account administrator

Sandra Saubat studied office technology at Cégep André Laurendeau.

She began her career at the Federation of Chambers of Commerce of Quebec as a secretary/receptionist. Subsequently, she worked as an agent of certification at the OACIQ (self-regulatory organization of Québec Real Estate Brokerage).

Sandra Saubat joined the Giverny Capital team in November 2012 as customer service assistant.


Laetitia Lehoux

Internal Legal Counsel

Laetitia Lehoux is a graduate of the Faculty of Law of McGill University in both Civil Law and Common Law and also holds a Bachelor of Commerce degree from McGill University. She was admitted to the Québec Bar in 2010. Prior to joining Giverny Capital she worked as a private practice lawyer in a law firm where she was in charge of a business clientele.

Laetitia Lehoux joined the Giverny Capital team in 2017 as Internal Legal Counsel.



Marta Yürss Álvarez

Executive Assistant

Marta Yürss Álvarez graduated from USC (Universidad de Santiago de Compostela) in English Philology. She debuted her career as an Executive Assistant at Inter-Mobile, a French specialist in telecommunications and mobile applications. She has also worked as a Translator and Proof-reader for various art catalogues and websites.

Marta Yürss Álvarez joined the Giverny Capital team in 2017 as Executive Assistant.



Gabrielle Bouchard

Assistant to the Giverny Capital Art Collection

Gabrielle Bouchard holds a Bachelor degree in Art History from McGill University and a Master in Management of Cultural Enterprises from HEC Montreal.

She coordinated the International Symposium of Contemporary Art of Baie-Saint-Paul from 2012 to 2014 along with artist and curator Serge Murphy. She also cofounded the FAAQ (Foire en art actuel du Québec) in 2013. She works as Project Manager for visual artist Marc Séguin since 2015. She is also in charge of training visual artists in the field of the art market in order to guide them on their career development.

Gabrielle Bouchard joined the Giverny Capital team in 2015 as Assistant to the Art Collection of the company.


Patrick Léger

Director of Giverny Capital Advisors LLC

Patrick Leger earned a BA from McGill University, an MBA in finance from Vanderbilt University and is a CFA charterholder. 

Prior to cofounding Giverny Capital Advisors in April 2009, Patrick was with Steginsky Capital LLC in Princeton and PricewaterhouseCoopers LLP in New York.  Patrick is a member of the New York Society of Security Analysts.

Patrick has been invited as a guest lecturer by several educational institutions to speak about investing and finance.  He is actively involved with alumni relations for the Portsmouth Abbey School in Portsmouth, Rhode Island.  

Patrick also follows and analyses some companies in cooperation with the Montreal office.