Are you going to be Rich?

Written on March 26, 2015 by Finance Masters Team in News

Blog post written by current Master in Finance student Javier Visedo (Spanish/American  citizen). Javier graduated from the Bachelor of Chemistry from Universidad Autónoma de Madrid with a very top grade. He also did one year Exchange at the University of Colorado, USA. He is a well-rounded student with a strong passion for finance, cheministry, physics and psychology etc. Javier won  a mathematics contest at university and obtained various academic awards during his years at university. Javier´s hobbies include playing the piano, martial arts, tennis, archery, dancing, organizing events, and social psychology.

In this article, Jaiver shares with us his personal approach to wealth and how it can be applied in our daily life.

are you going to be rich 

Have you heard about all those people who, in spite of making a lot, are up to their neck in debt? Have you ever thought to yourself, “If I only had more money all my troubles would go away”?

90% of people say that they have problems with money, and believe that having more money would solve their issues. What many do not realize, is that the problem is not the money itself, the problem is what they do with it when they have it! A clear example is winning the lottery: a lucky man/woman suddenly wins a million dollars, what do they do? They buy a great house with a big mortgage; they also get an awesome new car, go on trips and buy all sorts of widgets. A year later they run out of the lottery money, are absolutely broke and on top of that they have huge debts to pay. What happened?

A similar thing happens to at least 70% of the people when they get a raise in their salary: they start spending even more than their raise, ending up in even more trouble than before!

A very important thing in personal finance is to have your income be greater than your expenses, more money coming in than going out. That way you will have an increasing amount of money that you can save for a rainy day…or use more productively! (I will explain that later). Does that mean one cannot spend money on nice things or go on trips in order to reduce expenses? Not necessarily, in order to have that margin you can do two things: reduce your expenses (typical advice) or increase your earnings!

Reducing your expenses is easier than it sounds, every day we spend money on little things that we do not really need. While it seems like little money, if you add up all those cafes, nice lunches out, even what of us spend when we go out…if you add it up and see how much you spend in a month, or in a year, it is NOT a small amount. Noticing those small daily expenses (and also the not so small ones!) is very important if you want to be able to manage your personal finance, instead of being managed by it.

Now how can you increase your earnings? A raise, a better job position…this is the most common thought but, what about the extra money you have been leaving aside? You can put that money to work! Invest it and then you can have an extra source of income outside of your job! Let’s say that each month you are putting aside 10% of your income for investing (let’s say it’s $3000 a month, and you take out 300). After a year doing this you would have $3600 available, more than a month’s pay! You could invest all of that and get some nice extra money!

A final issue I want to talk about is the measure of wealth, how to decide if someone is wealthy or rich. While one usually thinks of this in terms of an amount of money, which may be 100,000 dollars, a million dollars, 10 million dollars…wealth to me is a matter of time. I would define it as how much time can you live your actual life without having to work. If you quit your job right now or got fired, how long would you last without having to make changes in your expenses, having to leave your hobbies and not be able to go out and do what you normally do? In many cases the answer is something close to 3 months. Independently of what they make, be it one thousand or ten thousand dollars a month, about 80% of people are only 3 months away from being completely broke!

So now I ask you, after you finish your studies in IE and get the great job that you want or start that awesome business where you will make a lot of money…will you be wealthy?


Dear IE finance alumni and candidates, we are very happy to announce that we will be traveling to Lagos, Beirut, Johannesburg, Cape Town, Cairo, Baku and Almaty in April & May, and we would like to invite you to join us in different events (depending on the city): “Discover Finance at IE” conferences, one-to-one meetings and others. Through these events, you will have the opportunity to learn how IE´s Masters in Finance have been designed by capital markets professionals in order to help you access or enhance your career opportunities in finance especially within the investment banking sector and explain what the possible professional exits there are within the sector. You will learn about different roles and functions within the industry, ranging from corporate finance, capital markets to private wealth management, and about the levels of career progression (from analyst level to Managing Director level), which of the four IE Masters in Finance is the most appropriate for your background and profesional experience in order to enter a certain role and function.

You will also meet with our finance alumni who are living and working in town. We will be glad to meet you and discuss your profile and how the top IE finance education at IE can help you explore future possibilities in finance.

The events will soon be open for the registration process on www.ie.edu/events, you can also send us your CV to MIF.admissions@ie.edu for more details. We look forward to meeting you soon!

MIF SEP2014 0140



 Interviewed by Viet Ha Tran, Senior Associate Director of Admissions, Finance Master Programs

We would like to share with you an interview we did with Antonios Kypreos just before the Semana Santa (Spanish Easter holidays) about his 5 year old investment advisory firm he started in 2010- Axion Financial Group.

Antonios Kypreos

Antonios Kypreos is a US/UK citizen; he holds a Master in International Management from IE Business School (graduated December 2009) and Bachelor of International Business Magna Cum Laude Distinction from Drexel University in Philadelphia, USA (graduated June 2005). Antonios has over 8 years of work experience in the investment world. Before attending IE, he worked for Wilmington Trust in Wilmington, Delaware, USA in their wealth advisory division working with ultra high net worth clients. Antonios completed an internship at Bear Stearns in New York and an internship for Smart Marketing Group in Philadelphia having worked as a marketing assistant to the late world champion boxer Joe Frazier. After IE (and after completing his IE exchange at Adolfo Ibanez University in Santiago, Chile), he started his investment advisory firm Axion Financial Group, based in Delaware, USA.

Viet Ha: Hi Antonios, I greatly appreciate your time for this interview despite your hectic daily schedule, I am aware that in 2010 after graduating from IE you created your own investment advisory firm, can you tell us what motivated you to launch your company?

Antonios: Thanks a lot for having me here for this interview. The idea behind Axion Financial Group was to offer a niche service to the high net worth client market segment that the large banks and brokerage firms were not properly servicing. Our goal is to offer “the family office experience to high net worth clients.” When I was working in the investment advisory world as an employee at the bank, I realized that banks and brokerage firms were not offering their high net worth clients (typically 1-10 million in investable assets per client/family) the same high quality products and services that they were offering their ultra high net worth clients (typically 20 million+ in investable assets per client/family). My goal when starting Axion was to create a firm that worked with a small group of high net worth clients, offering them a unique investment advisory service that was modeled after the family office services that the ultra high net worth clients typically received.

Viet Ha: Can you explain more about your business model and what makes it unique?

Antonios: Sure, my pleasure. We have a few areas of our business model that we feel makes our firm very unique in the world of investment advisory: 1) We work with a limited select client group that allows us to offer a high quality client service, as opposed to large banks and brokerage firms that work with hundreds or thousands of clients per advisor. 2) Our firm’s niche on the investment side are our offerings of a large unique selection of alternative investment products to our high net worth client group that due to the high investment minimums and the extensive due diligence required to evaluate these products, are not offered to the high net worth clients of banks and brokerage firms. 3) Our firm is set up as an RIA (registered investment advisory firm) in the state of Delaware and due to that, our firm has to adhere to a strict fiduciary standard of working in our clients’ best interests and not allowing for any conflicts of interest. This is compared to the broker dealer model that has a very high degree of conflict of interest that is typically used by banks and brokerage firms in their wealth advisory divisions.

Viet Ha: Who do you work with at your firm?

Antonios: I currently work with another family member and the firm is currently comprised of the two of us. The nice thing about our firm is that some of our client group is also family members, so we are working in the best interest of our clients and also our family as well. This helps give our clients high confidence as they know we are working for our own family as well as our non-family clients with the same investment products, services and philosophy for both our family and non-family clients.

Viet Ha: What gave you the courage to go by yourself and start your venture?

Antonios: I always wanted the chance to be an entrepreneur and had been waiting for the best opportunity. My previous experiences really helped me in giving me the confidence to start my firm. The experiences I gained at companies in the corporate world, as well as my experiences in my undergraduate and master degree programs contributed greatly to my ability to succeed in an entrepreneurial venture. My IE experience was definitely a great part of that as at IE I had the chance to work closely with an incredibly diverse and motivated student body. After working intensely in groups with motivated students from all over the globe I had gained a great sense of confidence that was easily translated into my current profession.

Viet Ha: What are the next steps for you and your firm?

Antonios: The next step for our firm is to continue to leverage our niche by offering our clients a unique mix of alternative investment products that are not typically offered to the high net worth clients of our asset range. We also are continuously searching the globe and performing due diligence on new investment options and opportunities that would be a potentially good fit for our family and clients. With our focus on excellent client service with a select client group, we are looking forward to continuing to grow our firm by referrals as we have done thus far and are excited for what the future may bring for our firm.

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Viet Ha: Best of luck with your company and I wish you continued success!

Antonios: Thanks for your time and thanks for the well wishes!


Thomson Training – Learn about finance resources at IE

Written on February 19, 2015 by Finance Masters Team in News

IE Library – Thomson Training.Next March 5, at 6:00 PM, IE Library invites you to a training session on Thomson One.

As you know Thomson One is one of the world’s most powerful financial tools. It offers a wide range of content for deep financial analysis. It is available in our Virtual Library, searching the Top Links menu.

To attend online, you can use this link: http://conference.ie.edu/biblioteca/

Learn and Enjoy!

IE has full potential access to all necessary tools in the finance industry!


New Economic Update by Ignacio de la Torre.

The next Economic Update with Ignacio de La Torre will take place on February 26th at 18.00 hours Madrid local time.

You can attend online through the following videoconference: http://conference.ie.edu/economicupdatebyignaciodelatorre

ENJOY AND LEARN! That is what it is all about!


Careers in Finance: Alumni Panel in Miami

Written on January 27, 2015 by Finance Masters Team in News

Are you interested in pursuing a Career in Finance or taking your current one to the next level? If so, IE has what you’re looking for…

As one of the world’s top business schools, whose belief in innovation and entrepreneurship are an integral part of its drive towards academic excellence, IE offers both MBA and Master in Finance and Dual Degree programs with the perfect combination of academic and practical experience to prepare you for a career in finance. Our urban based campus, set in the heart of the financial district of Madrid, is the ideal setting for participating in our Full-time programs, or through our World Awarded Blended Part-time programs as the next step toward your professional future.

Careers in Finance: Alumni Panel 

Thursday, February 19th, 5:30pm – 8:00pm

KPMG, 200 South Biscayne Boulevard, Suite 2000, Miami



We would love you join us in Miami on February 19th for a session that will include an interactive panel discussion featuring local IE Alumni working in various financial roles including the CFO of SAP Americas, the Director of Finance and Real-Estate for Burger King Corporation, a Vice-president of JP Morgan Private Bank and the Senior VP of Credit Risk at Santander Bank.

In this event, our panelists will address topics such as the paths to get started in the industry, current trends and growth opportunities.

We will also discuss the personal and career development training incorporated into IE’s programs which prepare students with the skills and knowledge necessary to explore the many opportunities in this field.

I look forward to meeting you there.

Guillermo Montes
Regional Managing Director
IE Center- Miami
South US, Puerto Rico and Caribbean



El IE acogerá el 17 de Febrero un gran evento donde reunirá a los lideres que desarrollan su actividad en el entorno de las finanzas islamicas.

En este desayuno organizaremos una breve exposición sobre cómo se está desarrollando la situación en Arabia Saudí, qué son las Finanzas Islámicas y cómo hacer negocios en la región.

Ignacio de la Torre, director de los programas máster de finanzas del IE moderará la mesa redonda en la que varios directivos españoles relatarán su experiencia trabajando en la región..

Contaremos con la presencia de:
• Celia de Anca: Directora del Programa Islamic Finance y Directora del SCIEF (Saudi Spanish Center for Islamic Economics)
• Ignacio de la Torre: Director Académico de los Masters in Finance del IE
• Diego Sobrón: Director Financiero- Talgo.

Un saludo,

Master in Finance Admissions Team


IE promotes an everlasting relationship among the members of the IE community, facilitates a common platform of business, career development and lifelong learning opportunities, with the objective to encourage personal and professional development of IE students and alumni, in accordance with the principles and values of IE. Networking at IE starts in the School’s classrooms and clubs and continues through the Alumni Association. IE Clubs are the umbrella structure under which we organize events worldwide, grouping activities according to functional area, sector, geographic region, or special interest.

We’ve just launched clubs.ie.edu, a new social platform to keep you updated on all our extracurricular activities! This new social platform, a joint effort from IE Campus Life, IEU Student Life and IE Alumni, is available online and can also be accessed through our iPhone and Android apps. You can now get the latest information about our events and clubs and also register all in one place. Check it out!



Talk with Master in Finance alumnus Niraj Pabari about his new start-up

Written on January 16, 2015 by Finance Masters Team in News

Interviewed by Viet Ha Tran, Senior Associate Director of Admissions for Finance Master Programs.

Happy New Year 2015 to all of you and welcome back from your vacation! We would like to share with you an interview we did with Niraj Pabari just after his New Year holidays about his newly developed mobile application.

Niraj Pabari is an Indian Swiss citizen; he holds a Masters in Finance from IE Business School (graduated May 2013) and Bachelor in Finance and Bachelors of Arts in International Relations from Webster University, Geneva. Niraj has 3 years of work experience in Finance between Geneva and Dubai. Before IE, he worked for such companies as Thompson Reuters Geneva, Management Trustees Geneva, Axia Investments SA and was also External Relations Manager for AIESEC Geneva. Right after IE, Niraj got a job in JP Morgan Dubai, and he was working there for about a year and a half. In October 2014, he decided to leave JPMorgan in order to launch his own startup, Airporter App Ltd. 
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Viet Ha: Hi Niraj, I greatly appreciate your time for this interview despite your hectic daily schedule, I just learnt that you recently created an exciting start-up, can you tell us what motivated you to launch this mobile application startup?

Niraj: Thanks for having me here. I got the idea of Airporter (the name of our upcoming application) sitting in an Airport almost a year ago. I was bored as I did not have a tablet or a laptop. Everyone around me was typing away on their mobile phone/tablets/laptops and I thought that it would be nice to have something which would allow everyone to connect. After sharing this idea with some friends and family, and surveying over 250 people, I saw that an application that would allow people to connect to each other within airports would appeal to people.   

Viet Ha: And what will this application do?

Niraj: The goal of Airporter will be to allow people within airports to connect. How many times have people been stuck at the Airport because they were either early, their flight was delayed or they were just bored and didn’t know what to do? Airporter will solve this issue. It will allow you to connect to other people within the same airport and socialize. Who knows, you could end up making a new friend, meeting your future boss or a potential business partner. The possibilities are limitless.  

Viet Ha: Who are you working with on this project?

Niraj: Rinat Diniulov, who studied with me during my Bachelor’s degree joined in as a partner in the startup and has played a key role in securing GPB 200,000.00 in seed series investment for the startup. We have partnered up with Alexander Kraev for our designing, Evernet Technologies in India for our software development, and with Atit Shah from Create Entertainment in New York, U.S.A who is producing the application launch video.  
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Viet Ha: What gave you the courage to go by yourself and start this adventure?

Niraj: It was firstly the support of my family, but also the training I got at IE Business School, especially the Knowledge Incubator course, which taught us how to think about creating a startup to pitching it to Investors. The Master in Finance really gave the students the tools to be successful working for multinational organizations but also those who wish to be successful as entrepreneurs  

Viet Ha: What are the next steps for you and when is the app being launched?

Niraj: We are currently putting emphasis on the application launch video which we are aiming to release with the beta version of the Airporter by between February and March 2015 on the Apple Store after which we will launch the Android version. 

Viet Ha: I look forward to downloading the application soon and best luck with your project!  


Interviewed by Viet Ha Tran, Senior Associate Director of Admissions for Finance Programs.

Just before Christmas and New Year holidays, I had the opportunity of interviewing Francisco Padilla, current student of GMIF, despite his very busy year-end schedule at work, between board meetings at the company and study sessions of GMIF program. Francisco holds a Bachelor of Industrial Engineering from Purdue University (U.S), an MBA from Universidad Católica de Chile, and has 10 years of professional experience in finance area before joining IE´s GMIF program. He is currently working as Chief Financial Officer (CFO) at CREDIQ, GrupoQ – a leading vehicle distributor in Central America.
Francisco at GMIF Opening Ceremony

Viet Ha: Hi Francisco, I greatly appreciate your time for the interview, can you tell us briefly about yourself?

Francisco: Hello Viet Ha, pleasure talking to you once again. First of all thank you for having me. As for myself,  I am 35 years old, married for almost 6 years now and father of two, a 1 year old baby girl and a 3 year old boy. I was born and raised in El Salvador, Central America. I consider myself ambitious and driven. I think we define our own boundaries: it is all about attitude, perseverance and dedication. I also enjoy good movies, a good day at the golf course or a nice motorcycle ride.

Viet Ha: I see you are working as Chief Financial Officer at CREDIQ, can you tell me a little bit about your current position and perhaps also a bit about your professional background?

Francisco: My undergraduate academic background is in Industrial Engineering from Purdue University (U.S) in 2001 and I believe this field of studies provided me with the critical thinking in order to view all aspects of running a company as a process and to find ways of improving that process. I started my career in Logistics area and I occupied the Regional Logistics Manager role for the largest department store chain (Almacenes Siman) in Central America. In 2005, I realized that I required additional tools in the finance areas in order to better manage the impact of these processes and that is why I opted for an MBA at Pontificia Universidad Católica de Chile to better complement my skills set and to move forward within my career. From there, I went to become the Strategic Development Senior Project Leader and later, Corporate Finance – Aircraft Leasing Manager for TACA Airlines, which recently merged to become AVIANCA. In 2008 I became the Finance and Operations Director for a Special Purpose Finance Vehicle for the Caribbean, focusing on real estate development, before moving up in 2010 to become Portfolio & Analysis Head – Retail Banking of Citibank El Salvador. After 18 months, I was offered my current position as CFO of CrediQ, a financial institution that originated as the financial arm of GrupoQ, a leading vehicle distributor in Central America, overseeing Panama, Costa Rica, Honduras and El Salvador. At CrediQ, among other duties, I am in charge of defining appropriate funding strategies at the regional level in order to provide the correct amount of funding at the correct costs in order to optimize our resources and obtain the projected profitability. I also lead the local commercial paper and international short-term notes program, which has become a strategic source of funding, and also the budgeting and accounting processes at each individual country and the ongoing follow-up of the company’s performance.

Viet Ha: Can you tell us why you chose IE´s Global Master in Finance? What is it about the GMIF that appealed to you and what are your expectations towards this program?

Francisco: I first became interested in IE´s GMIF program after investigating many different programs available in the market. From IE’s website to extensive research on different reviews and blogs, to strong recommendations from friends who are alumni; I believe that I had gained a profound understanding and thorough appreciation of the program. I consider that the program’s strength lies in its focus on enhancing students’ intellectual and interpersonal skills through academic excellence and numerous options to expose students to real-world experiences and leadership opportunities. IE is an internationally recognized institution with world-class professors whose focus and structure (blended) is aligned with my current needs. Furthermore, IE’s focus on a collaborative culture and community will provide me a strong network of like-minded “next-generation” leaders. In short, IE best prepares students to become skilled world leaders.

Viet Ha: How did the first month of the GMIF 2014 go? So far, what is it about that program that you like the most?

Francisco: It has been a great experience so far. I had the chance to meet great classmates and great faculty who are leading capital markets professionals. I even had the chance to sit down with two of the professors and get their advice on different subjects; which shows me the level of faculty that is teaching in the program. The level of depth and analysis in each course has been very appropriate and I have learned so much in just a short period of time, thus I cannot wait to see the level of expertise I will gain by the time I am done with the program.

Viet Ha: How do you find the blended methodology? How do you coordinate group assignments with members who are living in different time zones?

Francisco: I am very lucky to be part of a well-diversified group of classmates, geographically and professionally. Because of this, we all knew from the beginning that the coordination would be a challenge that we needed to figure out.

I think the IE Management Team is well aware of this challenge and, therefore, tries to facilitate the process by assigning the first-period groups based on time-zones, which I believe, in our case, has been a key factor of success. Of course, you must bear in mind that part of a top Master Program such as the GMIF is exchanging experiences and knowledge between classmates, to generate discussions and to learn from different points of view, and to better potentiate that process, groups change during the course of the program, providing you with the ability to strengthen personal relations with all your classmates.

For us, the coordination has been very smooth, mainly due to the level of commitment of our group and because none of us wants to miss a group session and the discussions that are held. The topics of our assignments have been very interesting and in my case because of the diversified group I am part of, there is always someone with a strong background on a specific topic and you want to listen and learn from his/her experience.

As part of the GMIF and a blended structure, we all are aware that in some cases due to professional or personal matters or as pointed out before – a different time-zone, one or more members will not be able to meet, and that is something that we all understand and we all try to manage in the best way possible.

From the face-to-face sessions held in Madrid, we all agreed to pre-define meeting schedules, it varies sometimes, based on the workload, but we try to meet at least once or twice per week.

Viet Ha: How are you coordinating your studies with your full time job and family?

Francisco: A top Master program requires and demands some sort of sacrifice. My kids are only 3 and 1 respectively so it is even harder since I want to spend more time with them at this stage, however, I do understand that this sacrifice will finally pay off for my whole family. I have established a schedule where I study during the nights and very early in the morning, allowing me to spend more time with my family during the day and over the weekend. As any other change in your current schedule, it is just a matter of committing to it and getting used to it. I have been on this schedule for around two months now and it is not impossible, it requires some dedication and sacrifice, but that is part of obtaining a top Master’s degree. I am very happy and honored to be part of the program since it is structured in a way that allows you to study in a balanced way, once you figure out the best schedule for you. I wouldn’t change my decision of opting for the GMIF program.
Viet Ha : Do you have any advice for future candidates of the Global Master in Finance?

Francisco: If you are looking for THE top Master’s program led by experienced and successful practitioners and professors, which allows you to keep on working, look no further and apply for the IE Global Master in Finance. Talk to the IE team and get a grasp of the program and its faculty, and if possible get in touch with a current GMIF student, so they can furnish you with more details about their experience, I am sure I am still falling short with all the benefits that the GMIF can provide. For me, it is an Honor to be part of the GMIF and the IE.
Welcome Party for Executive Programs

Viet Ha: Thank you very much Francisco for your time for sharing with us your experience with the GMIF program, and I wish you a very successful 2015 ahead!

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