Careers activity before the end of the year.

Written on December 19, 2014 by Finance Masters Team in News

Dear IE finance community and interested candidates,

We want to share with all of you the reasons why we are ranked 


for placement in Investment Banking. We want to show reasons for this success and transmit the strength of our Career Service.

We want you to feel and believe that our main goal is to support you and your future professional career since day one. So we will be showing you career activity month by month in this blog!



1)       Because it is all about Networking! LinkedIn Session for our Master in Finance students. Exploit all the resources given by new technologies!
2)      In house company presentations. We had the pleasure to have with us, Credit Suisse PB and Citi PB.

3)      HIRES AND MORE HIRES!! We want to congratulate 3 of our students that landed jobs in:

  1. - Morgan Stanley IBD Frankfurt
  2. - S&P Ratings
  3. - JP Morgan, Analyst in the Securitization team in London.

CONGRATULATIONS TO ALL OF YOU! Because this is the best return that you, students, can give to IE Business School finance team!   Thanks!

4)      OFFERS, OFFERS… AND MORE OFFERS: 35 new offers have been published in the Job Bank this month. From VP positions in Private Equity firms, to CFO´s for emerging market companies, as well as internships and analyst positions in top banks and boutiques and many more! Go for them!


We wish you a great XMAS HOLIDAY and a HAPPY NEW YEAR!

Admissions Finance Team



FT | IE Corporate Learning Alliance (FT|IE CLA)

Written on December 15, 2014 by Finance Masters Team in News

IE_FT Corporate Learning Alliance




The Financial Times and IE Business School announce the launch of the FT | IE Corporate Learning Alliance (FT|IE CLA), a new joint venture providing premium custom learning for business leaders.

The partnership connects the academic excellence of prominent business schools with the FT’s award-winning journalism and insight into real world business challenges.

The FT|IE CLA partners with the world’s leading business schools from Europe, Asia, North and Latin America, to design and deliver tailored programmes that meet the learning needs of today’s executives. Schools partnering for the launch of the CLA include Yale School of Management (United States), Fundação Getulio Vargas (Brazil), Antai Business School (Jiatong University, China), Renmin Business School (China), Singapore Management University, and EGADE (Tec de Monterrey, Mexico), among others. Together they make one of the largest pools of local and international expertise and content. The unique programmes combine face-to-face modules with innovative online and offline learning methods. Programs can be delivered in multiple languages including Arabic, English, Mandarin, Portuguese, and Spanish.

The program includes a measurement framework developed by FT parent company Pearson, that uses the latest research from statisticians and experts in pedagogy to ensure clients’ broader business goals are met.

FT CEO John Ridding said: “The FT|IE CLA combines business insight from the FT’s renowned journalists and columnists with IE’s expertise and academic theory in the classroom. This will give leaders valuable context and a direct link to real time challenges and opportunities.”

Dean of IE Business School Santiago Iñiguez added: “We believe this innovative collaboration will deliver the next era of executive education, combining the FT’s world-class, real time business news and analysis with the very best that business schools have to offer. As corporate customers are demanding more tangible results from their learning programs, we will design and deliver tailored programmes that meet the changing needs of executives, drawing on extensive local and international expertise and content provided by our School and our academic partners.”

The CLA will be led by VanDyck Silveira, who has extensive experience in executive education and corporate development and was previously IE Executive Education CEO. Prior to joining IE Business School and the CLA, Silveira served as CEO and President of Grupo Ibmec, which focused on high-end for‐profit education and ranked among the top universities in Brazil.

To read more about the CLA please visit www.ftiecla.com


Enric Macià, Master in Finance student and BAT campus ambassador

Written on December 9, 2014 by Finance Masters Team in News

Enric shares his experience since he started the MIF program in September 2014.

“Since the start of my master’s program, the IE experience has been amazing. The MIF is a very challenging program, and I have learned so much already from my professors, all of whom have extensive experience in the financial sphere. The curricula gives students a very solid base from which to enter the finance sector. 

As the Bloomberg Aptitude Test (BAT) campus ambassador, I am in charge of informing students about the BAT through weekly emails and talks on campus. Specifically, the BAT is a multiple choice test that measures students’ skills and applies them towards a career in finance. The test also ranks students in comparison to the other test takers and once completed, it gives students the opportunity to be contacted by corporations through Bloomberg’s Talent Search tool. 

So far it’s been a very rewarding experience, especially since over 100 students have already taken the test this term. It’s an honour to serve as the BAT ambassador, and I look forward to hosting more succesful sessions throughout the year, and to keep spreading the word about the BAT!”

Keep it up Enric,

Thanks for your words and hope to hear from you in the near future.

Best regards,



IE weekend seen by the eyes of a candidate to our Master in Finance

IE we1


The green light I hope I will soon be facing if I get the chance to be an IE student for the Master in Finance. This is where my IE Weekend Edition started. I was lost in mythoughts, wondering how my first impression about the campus and the people would be. Then across the road, the shortest stoplight I had ever seen in my life showed the green right in front of the IE logo, as if it was telling me ‘now you begin a new adventure, and you will do so by starting with the little things.’ These two days definitely exceeded my expectations, and they were far more than a simple introduction to IE and their programmes. I had the honour to meet the people behind one of the top business schools in the world. I learned about their vision, passion, values, and the strong effort anyone put into making the event a success.





IE we2


It may sound a bit materialistic but I was left with open mouth the moment I stepped into the hotel, and I am sure they didn’t choose it for me only by chance. I believe IE wanted to impress me and the other contest winners in any aspect of the Weekend Edition. They picked Dormirdcine because it resembles what IE itself is and can offer, something different from what you can find in most top business schools. IE extremely is multicultural, just like the diversity of each and every single room in the hotel. It is warm, welcoming, surprising as much as Sherlock Holmes staring at you when you walk out of the elevator of the hotel. But most of all, IE is about personal branding, entrepreneurship, teamworking, innovation, practicality, peculiarities which will eventually make IE alumni stand out from the competition.




IE we3


Besides the very interesting activities and workshops I participated at, what surprised me were the numerous group challenges that I had to face with people I had just met. I made very good friends, high-caliber students with great aspirations with whom I really hope to still be in touch with and exchange experiences and knowledge in the future. The picture above symbolises the teamwork approach and vibe I was able to feel at IE in these two days, where across all the floors – even in halls! – there were whiteboard-looking walls were people would write anything from activities, opportunities, greetings. Overall, the IE Weekend Edition was a great experience which I would recommend anyone to attend in the coming years. And if I think about the fact that this was the first time the university organised such an event, I cannot imagine how exceptional the next editions will be.

Thank you IE!








Update on Finance program life…

Written on November 26, 2014 by Finance Masters Team in News

Many things happen in our Master in Finance programs.

Here is a short summary of some that took place last week.


- New York City Financial Center Trip is being closed and applicants selected to enjoy such a wonderful experience to network with professionals from this great finance hub.




- Bloomberg Aptitude Test 

A new session will take place on Tuesday the 25th of November. 

Just wante dto remind you that at IE we have a Trading Room with 12 Bloomberg terminals and a worth value software of $1 Million. only a few privileged have access to this “real” trading floor!


- Career Events

  • Societe Generale will be in campus to communicate about their career opportunities and about their company culture to our students. Friday November 28 th  


- Job opportunities

  • Standard & Poor´s Rating Services

Position: S&P Credit Ratings Excellence Development (CRED) Programme

  • Standard & Poor´s Rating Services

Position: S&P Credit Ratings 2015 Summer Internship Program

  • Credit Suisse Investment bank

Position: Credit Suisse graduate applications

  • HSBC global banking and markets

Position: HSBC graduate applications



Spain is back! IE Venture Day 2014 in Madrid

Written on November 26, 2014 by Finance Masters Team in News

Post by Falko Kremp, Master in Management current student September 2014 intake 

Spain is back! IE Venture Day 2014 in Madrid

The audience was cheering and applauding when Paris de l’Etraz, Managing Director of IE Venture Lab, stated in his opening speech: “No business school in the world has an international footprint in Entrepreneurship as IE has.

Mr de l’Etraz’statement was proven true by the Venture Day Madrid, which took place on November 13th at Auditorio Rafael Del Pino. Venture Day Madrid is the latest event in a series of Venture Days all around the world. The one-day conference featured panel discussions, keynote presentations and, most importantly, pitches of start-ups launched by past and present IE students.

The panel discussions gave attention to the regaining strength of the Spanish economy, not least due to the tourism industry and its technological innovation, and the importance of emotions in business. A wide range of guests contributed exciting insights. Thus, Joe Haslam, Associate Professor at IE and VP of Stratemic Capital, made many look surprised by revealing that the tourism industry would be bigger than the oil business. Besides, Olivier Gay, Director General at Cartier, shared company insights by stating that Cartier would watch the market entrance of Apple’s iWatch – but did not plan to react instantly. Thus, he reminded the audience that not every innovation is supposed to be be permanent.

The first presentation was held by Sam King, asinger from New York currently based in Berlin, who taught everybody about the power of emotions by sharing his very own emotions through an amazing musical live performance.

The second presentation featured Avi Biran, CEO and a co-founder of Cyber Odysseys. Under the titel „The Next Frontier in Cyber Security“, Mr Biran emphasized on the importance of data security for tech companies.

The highlight of Venture Day Madrid 2014 were the pitches from pre-selected startups. These were:

-     Scano – reinvents 3D-scanner and -printer

-     Unplugged – facilitates p2p-messaging by focusing on privacy

-     Robosoft – develops software for robots

-     Stylesage – delivers big data solutions for fashion stores

-     Fikstore – helps developing beautiful online stores

-     Invierte Mejor – wants to help ordinary people to have access to exclusive financial products

-     Ruramex – helps to improve the rural life in Mexico by offering a safe stove

-     Itaro –  provides auto parts and tires to Mexican users

-     Turismol – focuses on searching through touristic activities in Peru

-     Pich – wants to provide tools for developers and banks

-     Multifarmas – helps to compare medicine prices

At the end, Turismol was the winner of IE Venture Day. Pich could earn the trophy of the audience.

Looking into the future, the next venture day is already close. On November 28th, the Social Entrepreneurship Venture Day will take place, focusing on identifying, supporting and recognizing startup social enterprises in the Philippines and the Asia region.


IE Business School supports entrepreneurs and alumni and has therefore launched the IE International Venture Days tour. This tour consists of a series of competitions organized in collaboration with partners all over the world where IE will be seeking out the most promising ideas. It’s an opportunity to pitch innovative business projects and a chance to obtain international investment.

Venture Days started in Madrid but have gone global since. Venture Days took place in cities all around the globe like Berlin, Bogota, Doha, Lisbon, Madrid, Mexico City, Milan, Mumbai, Providence US, Sao Paolo, Shanghai, Singapore, and London. More Venture Days in new and amazing cities are already scheduled and about to be announced. By giving Entrepreneurship and Tech Innovation a platform, IE Business School underlines its self-conception to be one of the leading educational institutions for Entrepreneurship worldwide.


‘Plus Ultra’:

España liderará una Europa que será “la gran sorpresa económica” en 2015

Ignacio de la Torre, socio de la firma de asesoramiento financiero Arcano (Pablo López Learte)Ignacio

En la primera edición, la de 2012, su voz se abrió paso en un entorno sumamente pesimista para vaticinar la mejoría de la economía española en 2012 y subrayar las oportunidades de inversión existentes. En la segunda, que llegó un año después, redobló su apuesta al vaticinar que España tendría en 2014 el mismo empuje económico que Alemania en 2004. Y con la autoridad que le otorga el acierto logrado con ambos informes, Ignacio de la Torre, socio de la firma de asesoramiento financiero y gestión de activos Arcano, vuelve a la carga con una tercera entrega -The Case for Spain III- con la que no solo se ratifica en que España seguirá adelante con la recuperación en 2015, sino que avanza que se confirmará como “la locomotora” de una Zona Euro que será “la gran sorpresa económica de 2015″.

Para ello, y como la inscripción que figura en las dos columnas de Hécules del escudo de España en la que se lee la inscripción Plus Ultra, que da título al informe, De la Torre considera que España se apoyará en dos pilares fundamentales en 2015: el sector exportador y la demanda interna. Como puntales adicionales, la recuperación del sector inmobiliario y constructor, por un lado, y la mejoría de la financiación para las empresas y los hogares.

Con respecto a la resurrección del ladrillo, el autor del informe defiende laconveniencia de no confundir los términos. “Que este sector vuelva a representar el 7,5% del Producto Interior Bruto (PIB), como corresponde a su media histórica, desde el 5% actual, es bueno. Lo malo sería que volviera de nuevo al 12%, no se que normalice la situación”, matiza. En este sentido, enfatiza que “no tiene sentido” que en España se vayan a construir 35.000 viviendas en 2014, cuando la media histórica se sitúa en 250.000, y cree quepodrían volver a edificarse 200.000 casas al año, una evolución que generaría “entre 2 y 2,5 puntos al PIB, 500.000 empleos e ingresos para el Estado”.

Como consecuencia de todo, el informe de Arcano prevé un crecimiento “por encima del 2% pronosticado por el Gobierno y el consenso de mercado” para el próximo año y precisa que “con un crecimiento de un 2% la creación de puestos de trabajo puede estar más cerca de 400.000“. La depreciación del euro, la caída del precio del petróleo y la expansiva política monetaria que aplicará el Banco Central Europeo (BCE) aportarán más ingredientes que favorecerán el crecimiento de la economía española.

Y más que eso. En opinión de Ignacio de la Torre, lo visto en España en 2014, ejercicio que se cerrará con un crecimiento del 1,3% cuando a comienzos de año las previsiones eran inferiores al 1%, se repetirá en la Eurozona en 2015. Es decir, anticipa un crecimiento mayor al previsto. Desde su punto de vista, ni la posibilidad de sufrir una tercera recesión ni la deflación “son unas amenazas reales”. Por el contrario, augura que las medidas del BCE y los estímulos que ponvendrán de la política fiscal “están alineados para que Europa sea la zona del mundo que presente los mayores riesgos al alza en 2015″.


Aunque el informe prolonga el tono optimista de los dos anterios, no pasa por alto los riesgos que pueden complicar la situación. El elevado desempleo, los alto niveles de deuda, la crisis institucional o la demografía figuran entre las 10 amenazas que menciona Ignacio de la Torre, aunque destaca una por encima de las demás; la complacencia. “El más importante de todos los riesgos es pensar que ya hemos hecho suficiente para mejorar la economía”, avisa.

Con todo, y en línea con el enfoque general del documento, asegura que “aunque formidables, estos riesgos son mucho menores que los que España tenía en 2007″. En este sentido, resalta tres progresos principales que otorgan una mayor protección a la situación española actual: el primero, que España “exporta capital al resto del mundo” y ya no depende del ahorro exterior; el segundo, que “el sistema financiero está saneado y con cuentas verdaderas”; y el tercero, que la economía “es capaz de crecer sin aumentar el stock de crédito, con lo que el crecimiento no es adicto a la deuda”.










Congrats Swapnil and Suraj for winning! How did you feel, when you found out that you’d won the Consilium 2014 at Indian school of business? 

We felt proud and happy to win the competition for the school. Also, when we told Erik Schlie (Associate Dean of IMBA) that we were shortlisted as finalists for the competition, he showed lot of respect and confidence in our abilities to win the competition. We felt we have kept that trust intact by winning it for IE. This was also a big moment as we were competing against best global B-Schools. The feedback we received from judges was very confidence building as our business was a rational, unique and feasible business opportunity. Moreover the idea is going to help in addressing the global food security issue while maintaining ecological imbalance.

Tell us more about the competition and what inspired you to pursue this award and what does it signifies to you?

SurajThis competition was one of the few competitions that attracted top business schools from all over the world. It also included the IIMs and the ISBs, which are the known to attract the most intellectual and clever students from India. I wanted to benchmark myself by participating in the competition and see how I fared, compared to the students from these B-schools.

From the academic point of view, I was doing very well in school and the courses at IE equipped me with a lot frameworks and concepts; I felt it was the right time to apply these frameworks to solve a real world business problem. I was following various consulting competitons and I came to know about the Consulting Conclave, which was a global Inter B school case study competition. I saw an opportunity to apply what I learned to compete with the best schools across the globe. It also gave me the opportunity to do something different from my normal IE MBA routine.

Swapnil – I am passionate about Business Consulting aseach case brings unique challenges. As a Consultant at Honeywell before entering the MBA, I worked on several challenging business cases and learnt that problems are multidimensional and proposed consulting solution impacts different business matrix. For me, consulting not only needs a holistic view of business and strong analytical skills but also needs strong leadership skills to work with multiple stakeholders in the process of solving problem.

As we were approaching the end of the MBA program, I saw ISB Consulting Conclave as a competition which would pose another challenge and provide an additional opportunity to connect the dots from my several learning at MBA at IE Business School along with my past experience. Also, the competition had global participation which meant we would not just be applying our learning but also competing against best talent from global B-Schools. This was sounding board to testify my strong academic and professional performance.

How did or did the knowledge you gained during your MBA help you win this competition/challenge

The case study based methodology at IE gives you exposure to thinking at a much broader level.

In the first round we had a marketing case on the consumer goods industry to solve. The IE curriculum offered very strong marketing coaching during the core terms and also in elective terms. We could select, find and apply suitable frameworks to solve the case and get selected in top 10 finalists out of 500 teams participating.

In the final round we were given business case based on digital technology (Code Halo by Cognizant) to come up with a unique and new business idea applying Code Halo. We were also asked to come up with the market size for the consulting company if they pursue our idea. Here we could apply learnings and frameworks from Technology and Innovation curriculum of IE. Also this case required deep understanding of marketing, market and non-market strategy, Economics, corporate social responsibility.  It also offered the ability to connect the dots from different courses to think like a consultant and leader with vision and understanding of future of technology and how it will impact different industries.

On top of learning from IE, we had to very quickly learn about the Code Halo technology in a to work on the business consulting solution. High intensity learning at IE helped us to take up this challenge smoothly without affecting our regular curriculum.

How will winning this award affect your work as an IE student? 

Winning the award does not affect our class work and participation. It was a platform to apply our knowledge and experience we gained from IE to solve a real world business problem although we have to admit that it did create a lot of buzz in the school and we felt happy when students and friends congratulated us.

Any advice or tip you can give for future IE students that want to participate in this award

I would say that you need to be dedicated and committed if you want to win the competition. Do not participate just for the sake of it, because that affects the quality of work and ultimately affects the reputation of the school. You will have to sacrifice your social life and put in extra hours. The competition along with the IE routine made us put in almost 20 hours of work a day for ~10 days. These kinds of competitions are challenging-physically and mentally.  Make sure your goals align with your team and everyone is dedicated to the project before enrolling in the competition!

Winning the competition gives us the opportunity to work with Cognizant and could be our potential employers based on the business plan we create for this idea. If students are interested in consulting opportunities, such competitions will give the opportunity to network and convert your ideas into job opportunity / venture.

Interviewed by Zaid Saghah, current Int MBA student


Over 125 firms and institutions took part in the 14th edition of IE Business School’s International Fair. Recruiting firms and organizations gave more than 20 presentations to students at the IE campus to present their plans for expansion.

The key objective of the event, which was attended by more than 1,000 students and graduates, is to serve as a platform for networking with participating firms who seek to recruit talent for their organizations. Firms taking part in this year’s event included  Abbvie, Accenture, Acciona, Altadis, Amadeus, Banco Popular, Banco Santander, BBVA, Bertelsmann, Bravo Capital, BTS, Carrefour, Cepsa, Cumbria FSC,  Deloitte, EDP Renovaveis, Equifax, Everis, EY, FCC, Gas Natural, Generail, Gonvarri, Grupo Batle, Grupo SanJosé, Heinz, Hilti, IMS Health, Indra, J. García Carrión, Kellogg’s, KPMG, LG, L’Oréal, Mary Kay Cosmetics, MSD, Nestlé, NH Hoteles, Novartis, Orangina Schweppes, P&G, Pernord Ricard, Philip Morris, Prosegur, Peugeot,  PwC, Repsol, Richemont, Sandhills East, Schneider Electric, Seur, Sha Wellness Clinic, Sixt, Strategy &, Syngenta and UNFPA.

As in previous editions, IE Business School’s Annual International Fair included a day focused on law and tax firms. Twenty six international law firms interviewed students and graduates from IE Law School programs. Participating firms this year included Allen & Overy, Baker & Mackenzie, Clifford Chance, Cuatrecasas Gonçalves Pereira, EY, Freschfileds Bruckhaus Deringer, King & Wood Mallesons SJ Berwin, Garrigues, Gómez-Acebo & Pombo, Latham & Watkins, Linklaters, Uría Menéndez, Watson, Farley & Williams and White & Case. This year’s Fair also included for the first time a day dedicated to startups, with companies that included  BlaBlaCar, DriveGum, El Tenedor, Ketekelo, La Nevera Roja, Nonabox, Puentes Globales, Ticketea, Tyba and Uber.

“The start-up event was a great success. It was included in response to the growing interest of students who identify with entrepreneurial culture and a desire to work in that kind of environment,” says Rosalía Rodriguez, Director of Recruiter Relations at IE Business School’s Career Management Center.

Más de 125 compañías reclutadoras participan en la 14ª Feria Internacional de IE

Más de 125 compañías reclutadoras participan en la 14ª Feria Internacional de IE Business School

Más de 125 compañías e instituciones han participado en la 14ª Feria Internacional de IE Business School. Las empresas y organizaciones reclutadoras han realizado más de 20 presentaciones en el campus a los alumnos, a quienes han presentado sus planes de expansión.

El objetivo de este evento, en el que han participado más de 1.000 alumnos y graduados, es potenciar el networking con las empresas participantes para que puedan reclutar talento para sus organizaciones.   Abbvie, Accenture, Acciona, Altadis, Amadeus, Banco Popular, Banco Santander, BBVA, Bertelsmann, Bravo Capital, BTS, Carrefour, Cepsa, Cumbria FSC,  Deloitte, EDP Renovaveis, Equifax, Everis, EY, FCC, Gas Natural, Generail, Gonvarri, Grupo Batle, Grupo SanJosé, Heinz, Hilti, IMS Health, Indra, J. García Carrión, Kellogg’s, KPMG, LG, L’Oréal, Mary Kay Cosmetics, MSD, Nestlé, NH Hoteles, Novartis, Orangina Schweppes, P&G, Pernord Ricard, Philip Morris, Prosegur, Peugeot,  PwC, Repsol, Richemont, Sandhills East, Schneider Electric, Seur, Sha Wellness Clinic, Sixt, Strategy &, Syngenta o UNFPA figuran este año entre las compañías participantes.

La Feria Internacional de IE Business School ha contado, como en años anteriores, con una jornada dedicada al sector jurídico y fiscal. Veintiséis  despachos de abogados con presencia internacional han entrevistado a  alumnos y graduados de programas de IE Law School. Entre las firmas jurídicas, este año han participado Allen & Overy, Baker & Mackenzie, Clifford Chance, Cuatrecasas Gonçalves Pereira, EY, Freschfileds Bruckhaus Deringer, King & Wood Mallesons SJ Berwin, Garrigues, Gómez-Acebo & Pombo, Latham & Watkins, Linklaters, Uría Menéndez, Watson, Farley & Williams o White & Case. Además, como novedad, la Feria Internacional de IE ha incorporado este año una jornada dedicada a startups, en la que han participado empresas como BlaBlaCar, DriveGum, El Tenedor, Ketekelo, La Nevera Roja, Nonabox, Puentes Globales, Ticketea, Tyba o Uber.

“En esta edición destaca el éxito obtenido con la jornada dedicada a las start-ups como respuesta al creciente interés de nuestros alumnos, identificados con la cultura emprendedora, por trabajar en este tipo de compañías”, señala Rosalía Rodriguez, Directora de Recruiter Relations del Career Management Center de IE Business School.





With regards to the application process it varies from company to company and takes into account which imply that should not accept a CV in paper. Therefore, it is very common these days that companies request that candidates apply via email or online (company webpage, IE Career Portal, etc.). Following is the “Law for the protection of data”:

Its main objective is to regulate the processing of data and files, personal data, regardless of the media in which they are treated.

Royal Decree 994/1999 on Security Measures for automated files containing personal data of June 11, 1999 (RMS): A regulation implementing Organic Law 5/1992, of 29 October, regulating the automatic Processing of Personal Data (LORTAD) regulates the technical and organizational measures to be applied to information systems in which personal data are processed in an automated manner. (Repealed from April 19, 2010).
Royal Decree 1720/2007 of December 21 Development of the Organic Law on Data Protection. This is a development of the Organic Law on Data Protection 15/99 of 13 December; develops both the principles of law, such as the security measures to be applied in information systems. It applies to both automated support files, as in any other media.


In September and October 2014, IE Finance Professor Rafael Martins de Lima Ferreira traveled to different countries around the world to give Finance Master Classes. During his trip to CIS countries, Anna Jueterbock from IE Russia Office (also  IE alumnus of the Master in Corporate Communication) had the chance of interviewing Professor Rafael despite his busy schedule.

During this interview, Professor Rafael, a finance expert with 20 years of experience on three continents talks about his master classes in Azerbaijan, Kazakhstan, Russia and Ukraine, shares his views on the future of the economy and discusses what it takes to be a banker.

Professor Ferreira, you were travelling extensively lately, conducting eight master classes on Basel III and business financing in Azerbaijan, Kazakhstan, Russia and Ukraine. What makes the topics of your master classes so relevant for these markets?

All these markets are either enjoying impressive growth or have big potential. Every time I visit their capitals, I am amazed by the transformation that they are going through and their continuous development. So I think that the topics of Basel III and business financing are very relevant for such dynamic and high-potential markets.

Basel III rules are interesting for a more senior audience, for banking experts who want to understand the new requirements and their consequences for the economy. What I am telling during this master class is that Basel III rules appeared as a natural response to the crisis. And although the roots of the crisis are in the USA and Western Europe, banks are becoming increasingly global, money is interconnected and the crisis is affecting the CIS markets. I am confident that Basel III rules will have a profound impact on the economy. They introduce significant increases in minimum required levels of capital and liquidity, which means that banks need to go to global capital markets, and that in turn, is making money scarce and more expensive. In the long run, however, I believe it will lead to a much healthier economy. During these master classes, I speak about capital ratio and liquidity according to Basel III and discuss the Rules’ implementation and consequences.

And the second topic?

The second topic – business financing – targets the audience that is interested in starting or growing their own business. We all know that traditional ways of getting money for the business, that is, going to banks, is getting more difficult. So we need creative ways of finding the money. I argue that the new approach to Business Financing became much leaner and allows the money to go when and where it is needed most. Funding sources are becoming more diversified and we differentiate among three types of business financing: corporate finance, project finance and asset finance. The first type – corporate finance – typically includes M&A, IPOs, Debt issues and other transactions in order to get money to raise funds avoiding standard bank loans. The second type, as the name already implies, is used to fund capital-intensive projects, where amortization and interest payments are generated exclusively from the project itself. And the third way of business financing – asset financing – is normally used to fund ships, airplanes, real estate, etc. According to this model, asset becomes the main payment guarantee.

Depending on business needs and the given situation, we can choose the model that suits us best and thus, make new ventures possible. During master classes, I go in depth on each of the models so that participants get as much value as possible and can apply the knowledge they gained to real-life situations.

What was the audience especially interested in during your master classes?

I was happy to see that people were very interested in both topics. The audience was especially interested in the practical side of the question and was eager to get as many practical tips as possible. I was also impressed by the participation! In some master classes we had more than 60 attendees! It made me believe that we chose the right topics, and I truly enjoyed conducting the master classes.

What are three most important take-aways for the audience from your master classes?

First of all, I want the participants of my master classes to understand that finance is not bad at all. It’s an important function, a key for the economy development.

Secondly, finance can become a beautiful profession if exercised in a transparent and fair way. As a finance expert you get a chance to decide where the money is going, fund important projects and support good causes.

And lastly, it’s not easy to be a banker. Not only do you need extensive knowledge and, thus, need to study continuously, but you also have to possess superb interpersonal skills. It’s a key for this profession.


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