He spent previously nearly two years working for Banco Santander, the Eurozone’s biggest bank by market value, in Mexico. But dealing with the legacy IT systems and rigidity common at large lenders has pushed him towards the fintech – financial technology – sector.
New technology and alternative forms of finance are shaking up the financial services industry. Tech changes have brought finance to the masses, with countries like Nigeria, Kenya and those across Latin America deepening the global financial market.
David believes Imperial’s focus on entrepreneurship and innovation, and diverse cohort, are a fit with his ambitions to work in London’s fintech sector, before jetting back to Mexico, his home country.
London was a natural choice for David’s MBA – the UK capital is regarded as a fintech hub, able to marry financial services to tech with aplomb. Investment in fintech start-ups has tripled globally, with the UK and Ireland accounting for more than two-fifths of the European total.
Why did you decide to begin an MBA degree?
I knew I wanted to remain in the finance sector in the long-term and felt that further studies were the best way to accelerate my professional path.
At first I was not sure if I was better off pursing an MSc in Finance or an MBA, but after some research I concluded that an MBA would give me more access to leadership positions.
I decided while working as a financial manager three years before applying to Imperial College. The right moment to apply came the same month I proposed to my now wife. We both wanted to get a postgraduate degree and thought that getting them [together] as newlyweds would be a great experience. Also, we did not want more time to pass as growing responsibilities might make it harder.
What made your business school stand out from the rest?
One of the reasons I chose Imperial was its leadership in entrepreneurship and innovation. Coming from a slow-moving sector like finance, I wanted a school with a strong focus on what is needed to re-shape an industry.
Also, it had to be in London. Not only are my wife and I huge fans of the city, but it also is one of the only places in the world where finance and technology come together.
Additionally I liked that Imperial's MBA was a one-year program, which meant that I would not stay out of work for too long. The cohort size was something that also attracted me – a smaller class means more personalized education and, considering that MBA students come from all kinds of different backgrounds, I considered this to be huge advantage.
How would you describe the culture at your business school?
If I could describe the culture at Imperial College in three words they would probably be: entrepreneurial, diverse and intense.
Something that worried me about getting an MBA is that many are very “corporate” focused. Many of their students come from corporate backgrounds and consider the MBA to be the next logical step in climbing the corporate ladder.
What I have personally learned from Imperial is that even though that path exists, it is not the only one. I believe that the Imperial culture teaches you that, no matter what your background is, you can always forge your own future through hard work and dedication.
Which aspect of the MBA has been the most valuable?
The intensity of the MBA has been of great value.
I think that the value of an MBA not only comes from what you learn in lectures but also from everything that happens outside of class.
I feel that an MBA is more of a mind-set than a title. There is no specific formula on how to be successful in business. What you really need to be successful is to be aware of what opportunities are out there and [be] constantly pursuing them. This is the kind of mind-set an MBA gives you. It teaches you that you can’t wait for things to come your way – you have to go out and get them.
What advice would you give to people who are about to apply to business school?
Two things come to mind. First, choose your school wisely and don’t only focus on the [MBA] rankings. Look for a school that suits your needs and will give you access to what you want. At Imperial, for example, we have the advantage of being close to other highly technological Imperial College departments. This, combined with the MBA’s entrepreneurial approach, could represent great opportunities.
Secondly, while you’re applying for your MBA, do absolutely everything you can. Attend every event you find and meet every person you can.
What was your biggest challenge at Banco Santander Mexico?
My biggest challenge in Santander Bank was dealing with their legacy IT systems and bureaucratic processes. Like all high street banks, innovation and change is hard to achieve.
That inspired me to get involved with the fintech industry.
What are your future career plans?
My future plans consist of working in the fintech sector in London for a while and then going back to Mexico, my home country, to develop my own project. After learning how the finance sector is changing in a fintech hub like London, I wish to apply those ideas in a country where more people need access to financial services.
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