Meet the IESE MBA Class of 2018

Jean-Paul Destarac

IESE Business School

Describe yourself in 15 words or less: Guatemalan-born, US-raised, European-MBA student willing to learn and grow from those around me.

Hometown: Guatemala City, Guatemala (but grew up around the US)

Fun Fact About Yourself: I was on the rowing team of my university.

Undergraduate School and Major:

Southern Methodist University

B.S. Economics with Financial Applications

B.A. Markets and Culture

Minor, French

Employers and Job Titles Since Graduation: Immediately prior to IESE, I was the Deputy Head of Investments and Strategy for Stelac, a New York City-based investment advisory firm overseeing assets for ultra-high net worth families, foundations, and endowments. Stelac also has a private equity arm and a foundation supporting the arts and education. My interest in finance traces itself back to my undergraduate education, where I spent two years working at Merrill Lynch with the head of the Dallas office.

Following Merrill Lynch, I worked for LVMH, starting with the Louis Vuitton brand. However, before starting my work in NYC, I was a consultant in France for at a Châteauneuf-du-Pape vineyard. After learning about the industry, I spent some time in Bordeaux, providing feedback and recommendations to the LVMH vineyards located there, along with other premier grand crûs.

Describe your biggest accomplishment in your career so far: While I was a High School sophomore, I met a Guatemalan boy half my age who was dying of cancer. Since his family had no means to pay for medical treatment, I challenged myself to make a difference. The only thing I could think of to help him was to use my musical talents. I proceeded to arrange music, record, and sell CDs of myself playing saxophone with profits going to his chemotherapy. My team was able to fund all of his treatments. Helping this complete stranger struggling for life has changed me more than I could ever help him. Now, many years later, he is still alive and this project has now touched countless lives. At the time, I had no idea this would have taken on a life of its own, but it might be the most satisfying thing I have been a part of. Sometimes, all it takes to make a difference is to take the first step.

Looking back on your experience, what advice would you give to future business school applicants?  There are many MBA programs, each with amazing professors and driven students. The main piece of advice I would offer to future applicants would be to ask themselves who do they want to be shaped by? These two years are highly transformative and the person you will become at the end of an MBA is highly dependent on who you were formed by, both inside and outside of the classroom.

Another piece of advice I would give is to remember the purpose of an MBA is much greater than the job offer you receive. Having an MBA from a good university is a badge of prestige that will mean something, not just to employers but also to family members, friends, and to the greater society. With this prestige comes a great ability to influence and to guide. I would remind applicants that an MBA is not just for you, but also for others and throughout a program and after, to stay other-centered and use the impact of this title for good.

What led you to choose this program for your full-time MBA? I knew I wanted to study at IESE many years ago, and was admitted through its Young Talent pre-admissions program while pursuing my undergraduate degree. I knew I wanted to attend a top-tier academic institution and IESE fit that criterion perfectly. However, there are many good MBAs in the world. What separated IESE from the rest of the schools I was considering was its humanitarian approach to business, understanding that being a manager in a business is more about leading people than simply increasing profits and decreasing costs. This does not mean IESE seeks to send all of its graduates to non-profits and NGOs. Conversely, the school intends to create positive change in the world through being involved in all levels of business across the world. I aligned well with this vision and wanted to be formed in this context. In addition, I am highly interested in entrepreneurial ventures and IESE is well differentiated with many courses on various types of entrepreneurship, and is located in the entrepreneurial hub of Barcelona.

My overall goal for life is to leave behind an imprint of goodness. This is being a good role model, being good to my family and friends, and leading by example. I don’t want the place to just influence me, but I want to influence the place to be a little bit better — to be able to make choices knowing whether a company culture is the right place for productive growth personally and professionally rather than just professionally. However, being a force for good is not just about dreaming, but about acting and not just causing a local impact, but a global one. To act on the global sphere, I need appropriate training. This training can happen both through experiences and through coursework and I believe IESE will offer me both. I am honored to be a part of the school’s movement of change, where I can do well by doing good.

Tell us about your dream job or dream employer at this point in your life? My time at Louis Vuitton revolutionized the expectations I had on what I thought I could achieve in a job. I discovered that I had a true passion for international business in multicultural settings. Any multi-billion dollar industry is filled with layers of complexities. I was unaware, until being immersed in this environment, how much more there is to Louis Vuitton than the fashion aspect. I fell in love with its fast-paced environment, the constant respect for quality, the challenges that were thrown at me, and the impact a large conglomerate has on the world. However, while in New York City, I realized that I also enjoyed the entrepreneurial side of business. The firm was smaller and, while not under problems of surviving, it was deciding how to thrive. Being a part of these managerial conversations made me want to be at the helm of an organization, leading corporate change.

Though a close friend, I was introduced to the search fund model, which seemed the avenue through which I could have this impact on organizations, at a young age. Through this model, a young entrepreneur raises capital from investors to fund a private investment. When the investment is made, the same entrepreneur runs the operations of the acquired firm. Since the entrepreneur is generally inexperienced at running the fund or company, the investors become highly involved in guiding his or her efforts. I greatly enjoy the mentorship side of this model and think it is an excellent way to run an existing firm. Post-MBA, I seek to launch a search fund in the US with the purpose of acquiring and then managing a company. Down the road, I would enjoy mentoring other young entrepreneurs by investing in their firms and teaching at a local university.

What would you like your business school peers to say about you after you graduate from this program? After leaving IESE, I would be proud of my time at the school if my peers said, “he had a great spirit of service.” A great example of this is a conversation I had with a member of the IESE administration a few weeks ago. While we were having lunch, his phone rang so I suggested he take it if he thought it might be important. The IESE administrator responded, “Right now, you are important to me.” That response perfectly embodies the type of leader I want to be-a servant leader. By leading by serving, I would help continue the mission of the school.

The way I see it, my goals for leadership on campus aren’t about wanting others to follow me personally.  It is about others following because they want to be part of a difference I’m making because when someone sees beyond themselves, it changes their perception. As I go on to the next stage of my life, I have no idea what may lie ahead, but I do know my eyes are open to see problems and to know that what seems impossible and out of my control is not actually unreachable. My hope is to make a difference no matter where I am and what I am doing. I understand that leadership is about doing the right thing and about taking a step forward when no one else will or can. Leadership is about being an example and the best way I can live my life is by living my mission, being truthful to who I am and what I believe in.  That only comes from day to day experience.  That doesn’t come with a rulebook or owner’s manual. But it starts with service.