Who are you?
My name is Jean-Philippe and I am a graduate from the MSc&T in Economics, Data Analytics and Corporate Finance from Ecole Polytechnique.
Before joining this program, I graduated from the Double Degree Program between Sciences Po and the National University of Singapore in Economics.
I also had several professional experiences in consulting, in a Private Equity/Venture Capital firm as well as in Project Financing. I just left my position at BNP Paribas in energy, natural resources and infrastructure project financing in order to pursue my studies in the Master of Finance at MIT, in the United States.
Why did you choose to pursue your studies at Ecole Polytechnique?
I chose this school for the curriculum, the school’s reputation and the overall environment quality.
After obtaining my Bachelor’s degrees, I had the opportunity to pursue my Master’s degree at Sciences Po. Since the economics program I had taken in Singapore covered most of the subjects of the Master’s program offered by Sciences Po, I wanted to pursue my studies in an engineering school to focus on a field that I liked very much: the intersection of economics and statistics.
This type of program is now more common but at the time I was looking for a Master’s degree, Ecole Polytechnique was a pioneer in this type of cross-fields program.
In addition, the school is top-notch in terms of quality of teaching and the excellence of the student body.
Tell us more about your current position
I must admit that in the world of finance, my job is not the best known! I do project financing (or structured financing), I work in a team of bankers who analyze projects to provide debt, and advise other projects to help them raise debt. On a daily basis, we receive projects that are supported by "sponsors" (corporates or funds). We run thorough due diligence on each project to know the risks, assess them and determine an amount of debt to allocate. A large part of the analyst's job is devoted to the financial model which tends to be quite complex in project financing.
The particularity of this debt provided to the project is that it will be ring-fenced in a Special Purpose Vehicle entirely dedicated to the project. If ever there is an event of default, the bank can only recover its money from the project itself, and not from the sponsor or fund behind the project.
This type of financing is more expensive but makes it possible to set up long-term, riskier projects (especially during construction phases) or to make co-investment with companies. It is a particularly popular type of funding for infrastructure, natural resources and energy.
What do you like the most about it?
I like the subject matter that we deal with in project financing. These are topics that require a very technical and complex analysis. At the same time, these subjects are also linked to macroeconomic, political and sometimes even geopolitical events. For example, understanding the issues behind the construction of offshore wind farms, the resources needed for the energy transition, or the gradual reduction in financing for oil & gas, fascinates me.
It is necessary to take a step back to realize that a given project has a significant impact for an entire community. Which I find amazing!
What memories do you have from Ecole Polytechnique?
I made very good friends with whom I have been able to work, learn and grow. The ties created are both professional and friendly which is an excellent memory since I did not have the chance to work in this way during my Bachelor years. That is to say, working on projects as if we were employees in a company and not just students in a school. It is very rewarding and impactful.
Unfortunately, COVID happened during my second year at l’X. I was lucky enough to have a “normal” full first year filled with encounters and sharing.
What skills did you gain during your MSc&T and use at your job?
Generally speaking, all the financial courses ("Corporate Finance", "Valuation of Startups", "Case Studies in Corporate Finance", "Financial Markets", “Behavioral Finance”, “Financial Decisions Under Risk”…) were extremely useful to me. The teaching staff is very knowledgeable and up-to-date about what’s happening in the industry and how professionals concretely approach certain issues.
More specifically, I would list the following skills:
- Professionalism when working as a team
- Financial analysis skills
- Data analysis skills (with the mindset that any decision or conclusion must be data-driven)
- Rigorous programming
Why did you choose to continue your studies with a second Master?
Before joining Ecole Polytechnique, I was very specialized in economics. What drove me to continue my studies at l’X was the MSc&T EDACF program which combined data analysis and its application to the economy and finance. That’s exactly what I was looking for.
I took advantage of my time at Ecole Polytechnique to deepen my knowledge in finance and after a few months of work experience, I now want to supplement this «corporate finance» training and expand my skills in this area with more quantitative finance and financial mathematics to touch on public markets topics.
What are your ambitions?
I would like to continue working in the field of energy and infrastructure in order to help finance and promote major renewable energy projects in the Asia Pacific region.
How would you describe the EDACF program in 3 words?
1. Rigorous – the level required and the workload are high
2. Teamwork – there is a lot of teamwork to be done throughout these two years, which are key in building up experience applicable to the industry
3. Fun – I enjoyed working, studying, building relationships and sharing during this program
What advice would you give to future students?
I would advise them to be passionate!
Find what interests you the most and let yourself be guided by this passion. This will allow you to have a totally different approach to your studies and your work. It is this passion that must lead you to your studies and your career, not the other way around.