From left to right: Arnav, Luka, and Jasmine. Not pictured: Michael.
In January, a team of Accounting and Financial Management (AFM) students—Arnav, Luka, Jasmine, and Michael—achieved a remarkable victory, securing first place at the National Investment Banking Competition (NIBC) in Vancouver. Competing against over 300 teams from 16 countries, they showcased their exceptional financial skills on the global stage and took home the prestigious $10,000 grand prize.
The NIBC is a multi-stage competition, where the competitors act as advisors to chosen company. This year, the team was tasked with advising Bumble, an online dating platform, on various decisions such as how it can increase its user base including user acquisition and monetization strategies.
After submitting their first-round case, the team was delighted to advance to the final round, which would be held in Vancouver. The team prepared as much as they could before the conference and they were ready for the opening ceremonies.
On the first day of the conference, it was announced that the final round would be to craft a recommendation in 24 hours whether Match Group should acquire Bumble. The team used the knowledge they acquired from previous work on the company, stock pitch competitions and notes from Professor Garvin Blair’s M&A class to determine that the proposed acquisition would be a strong strategic move.
After preparing the pitch deck and presenting it to a panel of judges, the team heard that they were 1 of 3 teams advancing on and would present at the final gala. Ultimately, the SAF team of students stood out due to their in-depth analysis of Bumble’s shareholder structure, value creation ideas, and cohesive presentation skills, bringing them the win.
The team credits their success to their dedication to extracurricular initiatives including Waterloo Business Review, the Student Investment Fund, and Waterloo Private Capital.
Additionally, coursework offered at SAF, such as Mergers & Acquisitions and Private Equity provided them with the technical expertise required to excel in the competition.
Reflecting on the experience, the team has expressed immense pride in their accomplishment at the competition. Competing on a global stage against top-tier talent while engaging with industry professionals was an invaluable learning opportunity.
The team’s advice to fellow SAF students is to find ways to have unique analysis and to learn as much as you can from alumni and fellow students. Ultimately, the team ability to think outside the box and present cohesively helped them stand out in Vancouver. Overall, it was an amazing experience and the team hopes to compete in more pitches in the future and hone their skills on the global stage!