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Global Scope,
Personal Impact

The Annual Report looks at IESE’s activity in 2014-2015 and illustrates –
through facts, figures and stories – the highlights of the past academic year.



“IESE’s commitment to serving companies, entrepreneurs and senior managers worldwide can be seen in our deep and diverse range of programs, which build on more than half a century of experience. Their growth is more than an opportunity to access new markets; by embracing the fresh perspectives that other business cultures offer, we expand our own understanding of the challenges presented by globalization and share it with students and alumni. At the same time, it presents us with an opportunity to share the core values of IESE around the world, and to deepen our legacy of leadership built on excellence, integrity and service to the communities in which we live.”





On September 21, 1964, a pioneering class of students began Europe’s first-ever two-year MBA program. The IESE MBA was conceived by IESE Faculty under the leadership of Dean Antonio Valero and encouraged by the founder of the University of Navarra, St. Josemaría Escrivá. The Program has been forging leaders for 50 years and the anniversary has been commemorated through a series of 20 events held around the world with renowned alumni and guest speakers. continue

  • Testimonial

    “Learning and incorporating certain values into your spirit is one of the most important things that you can get from IESE.”

    Francisco Reynés

    Francisco Reynés, MBA ’89, CEO of Abertis
  • Testimonial

    “It’s how you do things that defines you at IESE.”

    Leslie Rubio

    Leslie Rubio, MBA ’90, Managing Director of Corporate and Investment Banking at CITI
  • Testimonial

    “Great leaders don’t extrapolate, they anticipate; they are courageous enough to abandon a successful practice if necessary; they accept their social responsibility, build a culture of trust and cooperation and empower others.”

    Franz M. Haniel

    Franz M. Haniel, Chairman of the Supervisory Board of Franz Haniel & Cie
  • Testimonial

    “What is success in life? Most business schools equate success with having a good salary and an important job title. IESE allows you to look inside and develop your own definition of success.”

    Christopher Daniels

    Christopher Daniels, MBA ’00, Head of Partnerships and Communications at Hybrid Air Vehicles
  • Testimonial

    “When we deal with one another, the respect for diversity, for individuality, for the uniqueness of every person is critical. In this regard, IESE provides one of the best environments in the world’s leading business schools.”

    George Yeo

    George Yeo, Chairman of The Kerry Group


The 2014-2015 academic year ended with a milestone for IESE: the start of activities on the new Munich campus. IESE launched its first program in the German city in 2005, the Advanced Management Program (AMP), which was followed by the Program for Management Development (PMD) and Custom Programs. As well as consolidating IESE’s presence in Germany, the new facilities will also reinforce the international status of Munich itself.

  • munich
    Activities commenced at IESE’s new campus in Munich on June 29, 2015, consolidating the school’s 10-year presence in Germany. IESE began its activities in the country with the launch of the Advanced Management Program (AMP) for senior executives, which celebrated its 10th anniversary this year. The school currently has over 1,100 alumni in German-speaking countries and around 50 German students in its MBA programs every year. IESE Munich will be the hub for executive education for international companies located in Germany and Central Europe.
  • newyork
    With the inauguration of its New York campus in 2010, IESE gained a firm footing for its expansion in the United States. Since then, the number of activities, sessions, events, custom clients, programs, professors and participants has continued to grow. In 2014-2015, there were 700 senior executives attending programs in our New York Campus. Prestigious guests, including former Secretary of the US Treasury Robert Rubin and Continental Grain Company CEO Paul Fribourg, were interviewed at in-house, VIP breakfast events that attracted more than 100 senior executives. Besides, the Class of 2015 of IESE’s Global Executive MBA was the first to include senior international executives who started the program in New York.
  • sao-paulo
    IESE has developed and offered programs in Sao Paulo since 2001. The school’s activities in Brazil are designed to strengthen service to existing clients throughout the country and to increase the number of organizations there that we can serve. IESE delivers three general management programs in Brazil: The Global CEO Program, the AMP Sao Paulo and the PMD Sao Paulo. IESE launched a new program in Latin America for senior leaders with regional responsibility. The PADLA (Programa de Alta Dirección para Líderes de las Américas) started in September 2015 and is a joint program from IESE, IPADE and IAE. Additionally, the ceremony for the second graduating class of the IESE EMBA Sao Paulo took place in June 2015. The chairman of the board at Itautec gave the keynote speech for the 37 graduates.
  • asia
    IESE has been developing business leaders from Asia for almost 50 years, since it admitted its first student from the Philippines into the full-time MBA in 1964. Today, 26 percent of IESE MBA students come from Asia. In recent years, the increasing strategic importance of the region has been reflected in IESE’s activities. The school has offices in Hong Kong, Tokyo, Shanghai, Singapore and New Delhi. Two programs for CEOs were delivered in Asia this year in partnership with other business schools. Twenty-two MBA program participants elected to complete an overseas module in Shanghai this year. Shanghai was also the delivery location for a module of the Executive MBA this academic year, which was completed by 86 students.
  • africa
    For over 20 years, IESE has supported the development of management education in Africa. The school works alongside African business schools on the development of joint projects. IESE’s various activities in the region are organized under the umbrella of its Africa Initiative and have helped to form strong ties across the continent. The MBA program offered an opportunity to gain insights into the realities of doing business in Africa. Thirty-two second-year students took the chance to study an overseas module in Nairobi, Kenya, experiencing the country’s potential in-situ, and discovering the opportunities and challenges that it presents to business leaders. The module also included a course on Social Innovation and Social Entrepreneurship in Africa.



Job Creation

More than 4,000 jobs have been generated directly by IESE, through the school’s venture capital fund and through the Business Angels Network.



The school encourages entrepreneurship through its education and research, and supports start-ups through its Entrepreneurship Department.


Women in

IESE has a research center which promotes the professional advancement of women.


The Future of
Africa and Other
Emerging Economies

IESE assists Africa in its fight against poverty through the work of its professors and through executive education.



The Value Creation Through Effective Boards Program, delivered in partnership with Harvard Business School, focused on governance.


and Ethics

All IESE programs are created with a humanistic approach to business that is reflected in course curricula.


Business Schools
in Emerging Countries

IESE has helped develop 14 international business schools around the world.


50 Years Forging Leaders

IESE’s has developed business leaders and managers for more than half a century. The impact of the school can be seen in the broad, positive vision of management shared by its alumni, in which social needs such as job creation, ethics, social responsibility, and quality of governance and management play an important role.
Developing Leaders Around the World

IESE’s diverse portfolio of programs has been created for executives at every stage of their careers. Our Executive Education programs are designed to meet the specific needs of companies and their leaders around the world. All share a common goal: to have a positive and lasting impact on the way the world does business.
Ideas with Impact

IESE’s faculty members include world renowned names in academic fields. Full-time professors hold doctorates from the world’s leading academic institutions. They balance their roles as educators with a constant commitment to rigorous research and the development of knowledge.
Mission, People and Governance

The development of leaders who embody integrity and professional excellence, and who work with a spirit of service for the betterment of both business and society, is the constant focus of the school’s strategic decision-making and the motivation for its dedicated team members.
Worldwide Support

Many alumni, institutions, firms, foundations and other friends of IESE help us to carry out our projects. Without them, especially our alumni and Partner Companies, we would not be able to sustain our commitment to business and society.
Financial Information

After several years marked by a slow growth in Europe, the 2014-2015 academic year showed indications of a gradual recovery on the horizon. Total revenue was €92.2 million, reflecting a 4 percent increase over the previous year. This growth was mainly driven by Custom Programs.

Detailed information about IESE faculty articles in international refereed journals, academic appointments, alumni boards and the independent auditor’s report.