FINANCIAL MANAGEMENT

It studies the way to interpret correctly the essential financial information through an analysis of the investment structure that makes up the operating assets, the identification and determination of solution pathways for a company’s financial needs, the optimization of cash flows and profitability, the identification of pathways to enhance the value of the business, and the evaluation of invesment projects and development of strategies to enable the achievement of the financial objectives.

DEPARTMENT DIRECTOR

Francisco Javier Hurtado García

Professor and Director at the Financial Management Department
Associate Director of the Executive MBA Program (MEDEX), Class 2015-2017, Group B

  • PhD in Finance, University of Essex, UK.
  • MBA, Instituto Panamericano de Alta Dirección de Empresa (IPADE Business School).
  • BA in Economics, Universidad Panamericana (UP).

Financial Consulting in:

  • Business appraisal, risk management and value generation.
  • Financial diagnosis and analysis.
  • Analysis of economic/financial value generation in the organization.
  • Risk management.
  • Director and Associate Director of the IPADE MBA Program Promotion, 2005-2009.
  • Graduate Teacher Assistant (GTA), University of Essex, UK, 2012-2013.
  • Course: Financial Modelling, Essex Business School.
  • Corporate Finance
  • Business Valuation and Investment Projects
  • Financial Markets (Commodities, Derivatives, Foreign Exchanges, Futures, Stocks)
  • Financial Modelling
  • Risk Management
  • Personal Finance
  • Global Colloquium on Participant–Centered Learning (GloColl), Harvard Business School (HBS).
  • Senior Management Program in Private Equity (ADeCaP), Instituto Panamericano de Alta Dirección de Empresa (IPADE Business School).
  • University of Essex Induction Programme for Graduate Teaching Assistants, University of Essex, UK.
    “Equality and Diversity Essentials”, University of Essex, UK.
  • University of Essex Induction Programme for Graduate Demonstrators and GraduateLaboratory Assistants, University of Essex, UK.
  • MBA Exchange Program, IAE Business School, Argentina.
  • Postgraduate Diploma of Specialization in Risk Management, Universidad Panamericana (UP).

DEPARTMENT PROFESSORS

Oscar Carbonell López

Professor at the Financial Management Department
Associate Academic Director of IPADE

  • PhD in Business Economics, specialized in Finance, IESE Business School, Spain.
  • MBA, Instituto Panamericano de Alta Dirección de Empresa (IPADE Business School).
  • BS in Industrial Engineering, Universidad Panamericana (UP).
  • Treasury Manager, Citibank.
  • Credit Card Division Consultant, Bancomer.
  • Business Valuation, Risk Management, and Value Generation for Shareholders.
  • Advisor to several firms.
  • Associate Professor of Finance at IESE Business School, Spain.
  • Member of the Advisory Board, Tayasal Escuela de Negocios, Guatemala.
  • Guest Professor:
    • Instituto de Estudios Empresariales de Montevideo (IEEM), Uruguay.
    • INALDE, Escuela de Dirección y Negocios, Colombia.
    • Tayasal Escuela de Negocios, Guatemala.
    • IDE, Escuela de Dirección de Empresas, Ecuador.
  • Financial derivatives
  • Foreign exchange markets
  • Business valuation
  • International Finance
  • Financial markets efficiency

Federico José D’Kuba Chávez de Ita

Financial Management Department Professor
Management Development Program Director D-1, Monterrey

  • EDBA Doctor at Rollins College – Crummer Graduate School of Business 2021.
  • Executive MBA, Instituto Panamericano de Alta Dirección de Empresa (IPADE), 1997-1999.
  • MBA, Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM), 1986-1987.
  • Certified Public Accountant, Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM), 1982-1985.
  • Member of the Board of Directors, Grupo QAR del Noroeste, S.A. de C.V., 2017.
  • CEO, Colchones Romi, S.A. de C.V., 2008-2014.
  • CEO and Chairman of the Board of Directors, Colchones Príncipe, S.A. de C.V., 2001-2008.
  • CEO, Colchones D y D, S.A. de C.V., 1988-2001.
  • Assistant to Chairman of the Board of Directors, Transcapital, S.A. de C.V., 1987-1988.
  • Accountant-General, Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM), 1986-1987.
  • Invited Professor, Universidad del Istmo in Guatemala (UNIS Business School), 2016.
  • Staff Professor, Accounting and Finance Departments, ITESM, Campus Monterrey, Mexico and Cuernavaca, 1985-2012.
  • Management finance
  • Private equity
  • Investment projects
  • Financial modeling

International Faculty Program, Instituto de Estudios Superiores de Empresa (IESE), 2016.

Javier Duarte Schlageter

Decision Analysis Professor
Financial Management Professor

  • Master’s degree in Government and Culture of the Organizations, Universidad del Istmo, Guatemala (with the collaboration of the Instituto Empresa y Humanismo de la Universidad de Navarra, Spain), 2016.
  • Executive MBA, IPADE Business School.
  • Executive MBA, UNIS Business School, Universidad del Istmo, Guatemala.
  • BS in Applied Mathematics, Universidad de San Carlos de Guatemala (USAC).
  • Business advisor in Mexico, Guatemala and El Salvador.
  • Member of several Boards of Directors in Mexico, Guatemala and El Salvador.
  • Guest Professor at IDE Business School, Quito and Guayaquil, Ecuador, 2008 up to date.
  • Guest Professor in the Finance Division at the Instituto de Estudios Empresariales de Montevideo, IEEM, Uruguay, 2000 up to date.
  • Professor of Finance and Decision Analysis, UNIS Business School, Universidad del Istmo, Guatemala 1990 up to date.

Publications

  • Finanzas operativas: un coloquio, Co-author with Lorenzo Fernández.
  • Finanzas estructurales: otro coloquio, co-author with Lorenzo Fernández Alonso.
  • Finanzas de valuación: un nuevo coloquio, co-author with Lorenzo Fernández Alonso.
  • Project evaluation of investment
  • Business appraisal
  • Finance transaction
  • Treasury management
  • Decision Analysis Process
  • Qualitative factors in Decision Analysis
  • Focused Program “La correcta toma de decisiones: pilar básico en tiempos complejos”, IESE Business School, 2012.
  • Colloquium on Participant-Centered Learning, Harvard Business School, 2007.

Lorenzo Fernández Alonso

Dean at IPADE Business School
Professor at the Financial Management Department

  • MBA, Instituto Panamericano de Alta Dirección de Empresa (IPADE Business School).
  • BS in Industrial Engineering, Universidad Panamericana (UP).
  • Appraisal Partner Consultant: mergers and acquisitions.
  • Appraisal: Hipódromo de las Américas; Seguridad y Protección Contra Incendios, S.A.; Decar del Valle, and others.
  • Financial Analysis and Implementation of Value Generation: Grupo Auriga; Grupo Alsea; ICA.
  • Member of the Board of Directors in several companies.

At IPADE Business School:

  • Director of the Monterrey campus.
  • Director of the Financial Management Department.
  • Secretary General.
  • Director of the Senior Management Programs.
  • Liaisons Director.

Visiting Finance Professor:

  • INALDE Business School (Colombia).
  • IAE Business School (Argentina).
  • ISE Business School (Brazil).
  • UNIS Business School (Guatemala).
  • PAD Escuela de Dirección (Peru).

Co-author of the book “Un coloquio inesperado: cómo sacarle jugo a una crisis” (2020).

  • Corporate finance
  • Personal finance
  • Business appraisal
  • Stock market
  • Investment projects
  • Financial models
  • Family Office
  • The United States Mergers and Acquisitions, New York Institute of Finance.

José Elías González Rogel

Professor of Financial Management
Director of the Senior Management Program D-1 Regional

  • PhD candidate, Strategic Management and Development Policies, Universidad Anáhuac.
  • Full-Time MBA, IPADE Business School, 1999.
  • BS in Administration, Instituto Tecnológico Autónomo de México (ITAM), 1996.
  • Founding Partner and Chairman of the Board, Grupo Mexicano de Medios, 2006 to date.
  • Founding Partner and Member of the Board, Instituto Universitario del Prado, 2011 to date.
  • Assistant Vice president, Corporate Banking, GE Commercial Finance Mexico, 2006.
  • Relationship Manager, Corporate and Investment Banking, Citibank México, 2003.
  • Investment Projects Evaluation Manager, CARSO Global Telecom, 1997
  • Consultant in financial analysis, project evaluation and company valuation.
  • Member of the Board of Directors of various companies in the financial, agribusiness and food sectors.
  • Guest lecturer, Escuela Superior de Comercio y Administración del Instituto Politécnico Nacional (ESCA, IPN), 2010-2011.
  • Professor of Strategic Finance, Universidad Iberoamericana Ciudad de México, 2003-2006.
  • Professor of Financial Strategy, Instituto Tecnológico Autónomo de México (ITAM), 2001-2003.

Awards:

  • Chevening Scholarship, Foreign and Commonwealth Office (FCO), United Kingdom, 2002.
  • Citigroup Team Recognition Award, Citigroup, 2001.
  • Ranked 3rd in class, IPADE Business School, 1999.
  • Jerome A. Chazen Exchange Student, Columbia Business School, 1998.
  • Corporate Finance
  • Valuation of companies, mergers and acquisitions
  • Financial models
  • Personal Finance
  • Family and Self Program, IPADE Business School, 2014.
  • Advanced Credit and Risk Management Course, Citibank, Mexico, 2002.
  • Core Credit and Risk Management Course, Citibank, Bogota, Colombia, 2000.
  • Major in Finance, IPADE Business School, 1999.
  • Major in Finance, Instituto Tecnológico Autónomo de México (ITAM), 1996.
  • English Teacher Course, the Anglo Mexican Foundation, 1992.

Marcos Gutiérrez Díaz

Professor of Financial Management

  • Full-Time MBA, IPADE Business School.
  • BA in Economics, Universidad de las Américas, Puebla.
  • Deputy General Director of Bank Resolutions, Strategic Planning and Asset Sale, Deposit Insurance Agency in Mexico (IPAB), 2008-2018.
  • Director of Financial Research and Liquidation of Financial Institutions (IPAB).
  • Administrative Director in distribution agencies of products Nestle and Cervecería Cuauhtémoc Moctezuma.
  • Guest lecturer at various Mexican universities on Financial Education.
  • Advisor of the Superintendence of Banks of Guatemala on issues of Deposit Insurance and Simulations of Bank Resolutions.
  • Professor of Microeconomics, Universidad de las Américas, Puebla.

Publications:

  • Monetary Magazine, Centro de Estudios Monetarios Latinoamericanos, 1994.
  • Newspaper El Financiero “Evaluation of the Efficiency of Mexican Banking 1980-1990”, 1993.

Awards:

  • National Banking Commission Award. Second annual competition of Bachelor´s thesis. 1992.
  • Honorable Mention by the Tlacaélel National Award of Economic Consulting. 1992.
  • Corporate Finance
  • Investment Projects
  • Business and Asset Valuation
  • Mergers and Acquisitions
  • Diploma in Valuation and Bank Asset Markets (ITAM).
  • Diploma in Bank Risk Management (ITESM).
  • Deposit Insurance, Bank Supervision and Resolutions, Corporate University, Federal Deposit Insurance Corporation, Washington, D.C.

Carlos Humberto Muñoz Valdez

Professor of Financial Management Department

  • MBA, IPADE Business School, 2005-2007.
  • Bs, Management and Finance, Universidad Panamericana, 1997-2001.
  • Project Finance Manager, Natural Flavor, 2017-2018.
  • Plant Finance Manager, HFI, 2017.
  • Finance Manager and PMO, Pfizer, 2011-2012 and 2014-2017.
  • Finance Director, Gasbo, Choya & Bomanz, 2012-2014.
  • Sales Controller and Planning Manager, Johnson & Johnson, 2007 and 2010-2011.
  • Construction Manager and Finance Manager, 3M, 2007-2009.
  • Financial Analyst, General Electric, 2002-2005

Camilo Posse

Professor at the Financial Management Department

  • Executive MBA, INALDE, Escuela de Dirección y Negocios, Colombia.
  • Veterinary, Universidad Nacional Autónoma de México (UNAM).
  • President, Astral Products Inc., Jacksonville, Florida (Company of Fluidra, S.A.), 2006-2009.
  • General Manager, Inquide Flix, Barcelona (Company of Fluidra, S.A.), 2004-2005.
  • Member of the Budget and the Control Committees, Fluidra, S.A., Spain, 2000-2005.
  • General Manager, Avícola Algeciras Ltda., Bogotá, Colombia, 1988-1993.
  • Member of the Board of Directors, Concentrados Cresta Roja, S.A., 1990-1993.
  • Consultant (financial analysis, company valuation, cost system, balanced scorecard, economic added value, control risk self assessment), 1994-2005.
  • Professor of Managment Control and Finance, Escuela de Alta Dirección y Administración (EADA), Spain, 1995-2004.
  • Professor, Director of the Finance and Management Control Department, Associate Director of the Executive MBA, INALDE, Escuela de Dirección y Negocios, Colombia.
  • Veterinary, Production Manager and General Manager, Avícola Algeciras Ltda.
  • Assistant Professor and Researcher, Genetics and Statistics Department, FMVZ, UNAM.
  • Programmer and Statistician Analyst for the Program “Diagnóstico Integral de la Ganadería Bovina en el Trópico Mexicano”, Instituto Nacional de Investigaciones Pecuarias, Universidad Autónoma Chapingo.

DEAN PROFESSORS

Ramón Ibarra Ramos

Professor at the Philosophy and Business Department

Professor at the Financial Management Department

Member of the Board of Governors of Universidad Panamericana and IPADE

  • PhD in Philosophy of Action and Organizational Management, Universidad de Navarra (Cum Laude).
  • Executive Officers Management Program (AD-2), Instituto Panamericano de Alta Dirección de Empresa (IPADE Business School).
  • BA in Business Administration, Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM), Mexico City campus.
  • CPA, Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM), Mexico City campus.
  • General Director, Center for the Study of Institutional Governability (CEGI), 2006.
  • President, Editorial MiNos, S.A., 1975-2002.
  • Department Manager, Systems and Procedures Department, Troqueles y Esmaltes, S.A., a Monterrey, 1969-1974.
  • Administrative Consultancy Department Manager, Gossler, Navarro, Ceniceros y Cía., Monterrey office, 1967 -1969.
  • Professor of Administration, Universidad Panamericana (UP), 1981-2002.
  • Founding Professor, Instituto de Mandos Intermedios en Monterrey, 1970.

Publications:

  • Código de ética: cómo implementarlo en la empresa. México, Trillas, 2002.
  • Acoso sexual en la empresa: cómo prevenirlo. México, IPADE, 2001.
  • Empresa-Familia. Una relación constructiva. México, Trillas, 2000.
  • Ethics
  • Finances
  • Ethics Culture in the Organization
  • Colloquium on Participant-Centered Learning, Harvard Business School.
  • “Achieving Breakthrough Service” Program, organized by Harvard Business School, IPADE and the Western Business School.

Alexis Kretchmar Hernández

Professor at the Financial Management Department

  • MBA, Instituto Panamericano de Alta Dirección de Empresa (IPADE Business School).
  • MD in Economics and Finance, Boston University.
  • BA in Economics, Instituto Tecnológico Autónomo de México (ITAM).
  • Board Member: Grupo Prendamex and OPRESA.
  • President of the Committee of Finance, Grupo Prendamex Partner SFA Consultants, M&A and Corporate Finance 2001- 2008.
  • Correspondent Banking and Capital Markets, Grupo Financiero Inverlat, 1994-1998.
  • Foreign Investment Division, Grupo Financiero Serfín, 1992- 1994.
  • Financial Consultant: Tecnofire, Ferwood, Huawei.
  • Collaborator in newspapers such as El Universal, El Financiero, Expansión.
  • Professor, Corporate Finance, Universidad Panamericana.
  • Professor International Finance, Banco Central de Guatemala.

Lectures:

  • “Financial Mechanisms to Face New Challenges.” Event organized by Ingram Dicom. México City, 2006.
  • “Covered Interest Rates.” Banco Central de Guatemala. Guatemala, Guat. 1996.
  • “Mexican Financial System.” Universidad Panamericana. Mexico City, 1995.
  • “Consequences of the Mexican Peso Devaluation.” D.R.A. Associates. El Paso, Tex. 1995.

• Growth and Profitability
• Valuation
• Startups
• Mexican Stock Exchange

• Graduate course in Finances, Instituto Tecnológico Autónomo de México (ITAM).

Ángel Valle Yrusteta

Dean Professor

  • MBA, IPADE Business School.
  • BA in Industrial Relationships (Magna cum laude), Universidad Iberoamericana.
  • Member of the Board of Directors and CFO as Vice-president of Selmec Group.
  • Member of the Board of Directors and General Director of Belther Group.
  • Member of the Board of Directors and Corporate Director of Human Resources of Oaxaca Group.
  • Member of Board of Directors in the National Construction Industry Chamber (CNIC), COPARMEX and of the Unión Social de Empresarios Mexicanos (USEM).
  • Financial Management professor, IPADE Business School.
  • CEO of Executive Management Program (AD-2), IPADE Business School.
  • Advisor and Member of the Board for various companies: Agricultura Nacional, Bolsa de Maquinaria, Centro de Estudios en Ciencias de la Comunicación, Cleaver Brooks, Fibracel, Grupo Corvi, Grupo Master, Interlabel, Maquinaria Hidráulica Mexicana, Masari Casa de Bolsa, Novopan de México, Shasa and Super Diesel.
  • Carried out the sale of companies in several industries, among which stand out: Construction industry (Concretos Cotita and Decar del Valle sold to APASCO, Cotrisa sold to ICA); Beverage industry (Embotelladora Coca-Cola de Soconusco sold to FEMSA); and Housing industry (Fácil S.A. sold to Corporación GEO).
  • Creation and structuring of Corporate Governance bodies in various companies
  • The United States Money and Capital Markets, New York Institute of Finance.
  • Finance Seminar, Michigan University.
  • Frontiers in Corporate Valuation, New York University, Stern School of Business.