In this ongoing series, we’ll profile Ivey’s faculty, giving you insights into their work and lives.
Felipe Restrepo doesn’t shy away from adventure. Whether it’s rock climbing, a major career change, or a move to a new country, he embraces each opportunity to reach new heights.
After five years working in the financial industry in Colombia, first as a stock analyst and later working with derivatives, he decided to switch from the business world to the world of academia. Restrepo received a Fulbright Scholarship, a prestigious grant program for international educational exchange for students, scholars, teachers, professionals, scientists, and artists, and went on to do his Master of Science in Finance and PhD in Finance at Boston College.
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“I enjoyed my work, but one of the benefits of being an academic is that you can pursue the questions you’re really interested in,” he said. “Having previous work experience is a great asset for me for both my research and my teaching and, hopefully, I can translate that experience to both my students and to my research.”
The next stop on his academic journey is Ivey. Restrepo and his family chose Ivey out of numerous options even before his wife, Ana, had ever been to Canada. Fortunately, he said her first impression of London, and Canada in general, was very positive.
“London is a great city in which to raise a family,” he said. “We were both surprised by how nice the people are. People have helped us with information such as where the schools are and how to get a doctor’s appointment. Everybody has gone above and beyond. It might sound simple, but it has been great for us.”
And as for the rock climbing? While Restrepo was once passionate about the hobby, along with playing soccer and photography, he has had to put it aside while he focuses on his new career and young family. But he said he still enjoys playing soccer with his sons, Lucas, 3, and Daniel, 1, in the family’s back yard.
Now his new adventures involve making an impact with his research on empirical corporate finance and financial intermediation and making a difference in the classroom.
“I’m really happy to be here. Ivey is a great place to be. It’s very challenging, but provides great opportunities as a faculty member,” he said. “It’s great to be in a School where the quality of the students is so high.”
At A Glance
WHO: Felipe Restrepo, Assistant Professor, Finance
PAST OCCUPATION: Restrepo previously worked in the financial industry in Colombia, first in Valores Bancolombia, Colombia's largest brokerage firm, as a Quantitative Analyst in the Economic Research Department. He next worked in Bancolombia, Colombia's largest bank, as a Project Manager in the Derivatives and Risk Management division.
RESEARCH INTEREST: Restrepo’s research focuses on empirical corporate finance and financial intermediation, including the financial and real effects of bank transaction taxes, and the impact of credit rating policies on the investment and financing decisions of firms
FINDINGS: In his most recent paper, coauthored with Miguel Ferreira, Heitor Almeida, and Igor Cunha, Restrepo and his colleagues study the effects of credit rating downgrades on firms’ investment and financing decisions. They exploit the “sovereign ceiling rule” (a policy enforced by rating agencies that strongly limits a company’s rating based on its corresponding government’s rating) to estimate how an external reduction in a firm’s credit rating affects its corporate behaviour.
RELEVANCE: The researchers’ findings suggest that public debt management has real effects on the corporate sector through the sovereign ceiling channel, and not only through changes in macroeconomic fundamentals.
FUN FACT: Restrepo is the proud father of two young boys and he tries to spend his free time playing soccer with them (his youngest is only one-year-old so trying is the key word!). He is also an enthusiast photographer and enjoys rock climbing, although he hasn’t practised the latter in a while.
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