Alumni Profiles Series: Mauricio Cañas

Mauricio Cañas is an associate partner and chief investment strategist in the wealth management division at BTG Pactual Chile, where he provides insights on the global economy, financial markets, geopolitics, and long-term asset allocation across public and private markets. Previously, he served as head of equity research at Banco Penta, overseeing fundamental equity strategy and portfolio research. Mr. Cañas holds a Master of Arts in economics from Duke University and a Master of Science in finance from the Universidad de Chile. 

How would you describe yourself professionally today?

I work for a Latin American investment bank in Chile, and my work focuses on investment strategy. As the voice of the market for my clients, I provide investment outlooks and guidance, including asset allocation and portfolio implementation. 

What I find most intellectually engaging about my current role is the need to stay adaptable. Markets can change at any time, so you need to keep your mid- and long-term goals relatively fixed, but with some margin to adjust flexibly. 

What brought you to Duke for graduate study?

I decided to apply to Duke because it offered a strong core economics foundation, with the flexibility to take courses across other programs. I took core economics courses in the first year and applied economics and MBA courses in the second. As a top-tier university, Duke met all the criteria I was looking for and added strong value to my resume.

When you were finishing your graduate degree, what kind of career path did you initially imagine for yourself?

I was studying in the U.S. on a full scholarship, and one of the conditions was that I had to return to Chile. My previous company also wanted me to come back, which made returning the straightforward path.

Before graduating from Duke, I was evaluating different business lines within my company. I needed to stay open and flexible, depending on the needs of the firm. Since I had been working in asset management as a portfolio manager before coming to Duke, it was the path I initially had in mind. However, the head of research position on the sales side was vacant around the time I returned to Chile, so I stepped in, covering both equity and fixed income.

Were there any major turning points that shaped the direction of your career path?

In my second year during my undergraduate study, I decided that I wanted to pursue a career in finance. From then on, I shaped my studies around finance and built a solid resume. The second turning point came after I had four to five years of work experience, when I decided to pursue an international graduate degree. That decision brought me to Duke for graduate study.

The third turning point came when I was the head of research at my previous firm. Things changed and the firm went through an ownership transition. My former bosses were very considerate and many of us received offers to stay with the acquiring institutions, but I decided I wanted a career change and to move to a more multinational platform. I took the risk and spent a few months looking for my next opportunity. I then joined my current employer, BTG, one of the leading investment banks in Latin America. 

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Do you feel that the way you understand markets now is different from when you first started?

Definitely yes. I think there are two key parts to working in financial markets. The first is the fundamentals. If you have a strong academic background, a solid network, and you were challenged to think critically in class, that gives you the core framework you need. But that is not enough.

You need to keep learning every day, because markets keep changing. In the classroom, you rarely learn how to react when there is a sudden policy change, like a sharp increase in tariffs beyond textbook cases. The same is true for new trends like artificial intelligence. When you work in investments, you have to learn about these new trends quickly and understand how to be well positioned to generate gains.

This also means being aware of your own biases. Some investors are value-oriented, others are growth-oriented. Some focus on technical patterns, others on fundamentals. In all cases, you have to stay humble and nimble when your thesis proves wrong. In those moments, you need to go back to your initial assumptions and ask which ones were right, which ones were wrong, and why. It doesn’t necessarily change your entire way of thinking, but you do have to adjust to the new outcome. 

What do you think about work–life balance in the finance industry?

Finance is a highly competitive industry. My advice is to think of the first four to five years of your career as an investment cycle. If you lean more towards work in the early stages of your career to learn and build experience, you tend to see the payback sooner. At the same time, work–life balance is still important for your health, and for keeping friendships and family relationships, so you need to be careful where you draw that line. 

Is there any advice you would like to share with Duke students, especially those interested in finance?

For those who want to work in highly competitive financial hubs, try to decide early what you want to do. Different paths require different skills, networks, and recruitment processes. If you are still exploring, investment banking can be a practical starting point, because the recruiting process is more structured and the exit opportunities are broad. 

Additionally, try to do well in your coursework and build connections through internships, professors, and colleagues. Most people are willing to help or share advice, so don’t be shy about reaching out cold as long as you’re polite and professional. 

Finally, be open and adaptive. New things happen every day, so you need to be open-minded and willing to keep learning.

Do you have a favorite memory from your time at Duke?

My time at Duke was demanding but rewarding. The courses were not easy and the first year was tough. But that was also something I valued about Duke: you have to work hard to earn your degree. On the other hand, I really liked the international setting and the strong sports culture. I enjoyed the basketball games, as well as playing golf and soccer with friends.

AUTHOR

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Tianai Wang

M.A. student, Economics

Tianai Wang is a master’s student in economics at Duke University. She is interested in using fundamental analysis as well as data-driven methods to study companies and financial markets. Outside of class, Tianai enjoys rock climbing and backpacking.