Guest Speaker: Federico Lupin

We had the pleasure of hosting our very first guest speaker, Federico Lupin, who shared valuable insights from his impressive career in finance and sales, along with timeless lessons on growth and adaptability.

From Bloomberg to Merrill Lynch: A Career Built on People and Opportunity

Federico began by emphasising the importance of the people around you, noting that many great projects begin with those you already know, and that professional paths often intersect in unexpected ways. His journey is a testament to how staying connected, adaptable, and open-minded can shape one’s career.

He started his professional path at Bloomberg, where he focused on acquiring institutional clients to trade bonds through the Bloomberg Terminal. At the time, the bond market was only beginning to transition into digital platforms, and Federico played a pioneering role in helping institutions adopt this Bloomberg's technology for bond trading.

After two years at Bloomberg, one of his clients, Merrill Lynch (now Bank of America Merrill Lynch) recognised his talent and offered him the opportunity to join their team. When he arrived, the firm had only a few thousand clients buying bonds, and over his 12 years there, he helped grow that number massively, playing a key role in the firm’s expansion in the bond market.

Understanding Bonds: The Foundation of Fixed Income

Following his career overview, Federico provided our members with an in-depth introduction to bonds and the fixed-income market. He covered the essentials: who issues bonds, who buys them, the distinctions between secured and unsecured bonds, and the concept of floating vs fixed bonds.

He explained that bonds are often viewed as safer investments because of their fixed-income structure and their position in the payment waterfall; meaning bondholders are prioritised for repayment in the event of a company default, whereas equity holders are last in line. This structure allows investors to balance their portfolios, taking more risk elsewhere while maintaining stability through bond investments.

Lessons Beyond Finance: The Power of Consistency

To conclude his talk, Federico shared some powerful analogies drawn from sports. He noted that a soccer player touches the ball for only 60–90 seconds during a 90-minute game, yet what they do during the moments without the ball determines their overall impact. Similarly, Roger Federer, one of tennis’ greatest, said in a speech that he won only 54% of the points in his career, showing that success doesn’t require perfection; it comes from winning just a bit more than you lose, consistently over time.