Finance: four MSc FMI students reach the final of the Global Case Competition at Harvard

The Global Case Competition at Harvard follows a demanding format: three weeks to deliver a full strategic report, under conditions mirroring those of a financial advisory firm. Each year, participants are challenged with a real or realistic M&A case, requiring sector analysis, company valuation, financial modelling and post-merger integration strategy.

In 2025, the brief given to teams was ambitious: to imagine a takeover of Pirelli by Ferrari. A complex scenario that demanded financial rigour, strategic insight and a sound understanding of industry dynamics.

“A target is imposed on us, just like in real-life mandates. From there, we build everything – market research, valuation, business model, risks and opportunities,” explains Antoine Pasco. “Our final submission ran to 40 pages, with 35 main slides and 5 technical appendices. We often worked evenings and weekends in the Bloomberg room on campus.”

A cohesive team driven by excellence

Behind the FMI Partners team are four complementary profiles, united by a shared goal: entering the world of investment banking after graduation. Team captain Maÿlis Mircich draws on strong experience gained during an M&A internship at Transactions & Compagnie: “I applied what I had seen in the field to shape our approach. It wasn’t just about finance – it was also about strategic positioning in a competitive sector.”

Antoine, who previously worked at Rothschild in asset management and then at Société Générale, handled the financial modelling and simulations. Maksim Nastasovic and Lamberto Maria Ermete Ferrero led the strategic thinking and overall project coherence.

“We immediately clicked, both personally and in our methods. We worked like a proper task force,” says Maÿlis.

A spotlight final at Harvard

The final pitch will take place in April in front of a Harvard jury, consisting of a 10-minute oral presentation followed by a discussion with professionals from leading banks, investment funds and consultancies. Beyond the competition itself, the finalists will also take part in an intensive weekend on the Harvard campus, with conferences, workshops, panels and networking events.