Prof. Dr. Peter Schwendner

Prof. Dr. Peter Schwendner

ZHAW School of Management and Law
Institut für Wealth & Asset Management
Gertrudstrasse 8
8400 Winterthur

+41 58 934 78 86
peter.schwendner@zhaw.ch

Arbeit an der ZHAW

Tätigkeit

Arbeits- und Forschungsschwerpunkte

Lehrtätigkeit

Lehrtätigkeit in der Weiterbildung

CAS Sustainable Investing

Berufserfahrung

Dozent
Zürcher Hochschule für Angewandte Wissenschaften
2013 - heute
Partner, COO
Fortinbras Asset Management
2009 - 2013
Managing Director, Head of Quant Research
Sal. Oppenheim jr. & Cie.
1998 - 2009
Doktorand
Max-Planck-Institut Göttingen
1995 - 1998

Aus- und Weiterbildung

Ausbildung

Dr. rer. nat. / Physik
Georg-August-Universität Göttingen
1995 - 1998

Weiterbildung

Instructor Certification and University Ambassador
NVIDIA Deep Learning Institute
2024
Nanodegrees in Deep Learning, Computer Vision, Autonomous Flight Engineer
Udacity
2024
Advanced Course on Earth Observation for the Raw Materials Sector
EIT Raw Materials
2024
CAS Foreign Affairs & Applied Diplomacy
ZHAW
2019
CAS Hochschuldidaktik
ZHAW
10 / 2015
Commodity-Advisor
ebs/BAI
2012
Financial Risk Manager
GARP
2003
Chartered Financial Analyst
CFA Institute
2002

Netzwerk

Mitglied in Netzwerken

ORCID digital identifier

ORCID ID: 0000-0001-9366-3564

Auszeichnungen

Best Paper Award for V. Adjiski, T. Orpiszewski, P. Schwendner: "Portfolio-Scale Screening of Conditional Life-Loss Consequences from Tailings-Dam Failure Using Open Global Data"
11th International Conference on Geotechnical Research and Engineering (ICGRE 2026)
04 / 2026
Best Paper Award for A. Posth, P. Schwendner, P. Laube, T. Orpiszewski: "Bio-Value-at-Risk: A Concept to Assessing the Implications of Biodiversity Risks on Portfolio Management using Geospatial Analysis"
3rd Conference on Sustainable Banking and Finance CSBF 2025 at University of Napoli Parthenope
07 / 2025
Excellence in Environmental and Social Impact: Zurich University of Applied Sciences & University of Zurich: Spatial Sustainable Finance Project
Geospatial World Forum
04 / 2025
SML Publication Award 2017 for P. Schwendner, M., Schüle, T., Ott, M. Hillebrand, M.: "European government bond dynamics and stability policies: taming contagion risks"
School of Management and Law
12 / 2017
SML Publication Award 2016 for N. Packham, J. Papenbrock, P. Schwendner, F. Woebbeking: "Tail-risk protection trading strategies"
School of Management and Law
12 / 2016

Empfehlungen

Named in the top 20 2024 European Quant & Finance Professors list by Rebellion Research.

Social Media

Medienpräsenz

Featured in SSF Whitepaper: AI in Sustainable Finance

Projekte

Publikationen

Beiträge in wissenschaftlicher Zeitschrift, peer-reviewed

Teng, H.-W. et al. (2026) 'Digital assets : risks, regulations, mitigation', Financial Innovation, 12(1), p. 65. doi: 10.1186/s40854-025-00848-y.
Günster, A. M., Jud, R. and Schwendner, P. (2025) 'Explaining new issuance premiums in the US corporate bond market (2016–2020)', The Journal of Financial Data Science, 7(3), pp. 8–21. doi: 10.3905/jfds.2025.1.192.
Orpiszewski, T., Thompson, M. J. and Schwendner, P. (2024) 'The stock and option market response to negative ESG news', The International Journal of Accounting, 60(4), p. 2440002. doi: 10.1142/S109440602440002X.
Sutiene, K. et al. (2024) 'Enhancing portfolio management using artificial intelligence : literature review', Frontiers in Artificial Intelligence, 7(1371502). doi: 10.3389/frai.2024.1371502.
Hillebrand, M., Mravlak, M. and Schwendner, P. (2023) 'Investor demand in syndicated EFSF/ESM bond issuances', Open Research Europe, 3(96). doi: 10.12688/openreseurope.15961.1.
De Meer Pardo, F., Schwendner, P. and Wunsch, M. (2022) 'Tackling the exponential scaling of signature-based generative adversarial networks for high-dimensional financial time-series generation', The Journal of Financial Data Science, 4(4), pp. 110–132. doi: 10.3905/jfds.2022.1.109.
Jaeger, M. et al. (2021) 'Interpretable machine learning for diversified portfolio construction', The Journal of Financial Data Science, 3(3), pp. 31–51. doi: 10.3905/jfds.2021.1.066.
Schwendner, P. et al. (2021) 'Adaptive seriational risk parity and other extensions for heuristic portfolio construction using machine learning and graph theory', The Journal of Financial Data Science, 3(4), pp. 65–83. doi: 10.3905/jfds.2021.1.078.
Posth, J.-A. et al. (2021) 'The applicability of self-play algorithms to trading and forecasting financial markets', Frontiers in Artificial Intelligence, 4(668465). doi: 10.3389/frai.2021.668465.
Papenbrock, J. et al. (2021) 'Matrix evolutions : synthetic correlations and explainable machine learning for constructing robust investment portfolios', The Journal of Financial Data Science, 3(2), pp. 51–69. doi: 10.3905/jfds.2021.1.056.
Schwendner, P. (2020) 'Advances in financial machine learning', Quantitative Finance, 20(2), pp. 189–190. doi: 10.1080/14697688.2019.1703030.
Schwendner, P., Schüle, M. and Hillebrand, M. (2019) 'Sentiment analysis of European bonds 2016 - 2018', Frontiers in Artificial Intelligence, 2(20). doi: 10.3389/frai.2019.00020.
Packham, N. et al. (2016) 'Tail-risk protection trading strategies', Quantitative Finance, 17(5), pp. 729–744. doi: 10.1080/14697688.2016.1249512.
Schwendner, P. et al. (2015) 'European government bond dynamics and stability policies : taming contagion risks', Journal of Network Theory in Finance, 1(4), pp. 1–25. doi: 10.21314/JNTF.2015.012.
Papenbrock, J. and Schwendner, P. (2015) 'Handling risk-on/risk-off dynamics with correlation regimes and correlation networks', Financial Markets and Portfolio Management, 29(2), pp. 125–147. doi: 10.1007/s11408-015-0248-2.

Schriftliche Konferenzbeiträge, peer-reviewed

Schwendner, P., Hillebrand, M. and Mravlak, M. (2022) 'Investor demand in syndicated bond issuances : stylised facts', in 32nd EURO Conference, Espoo Finland 3-6 July 2022.
Schüle, M., Ott, T. and Schwendner, P. (2016) 'Forecasting correlation structures', in Proceedings of the 2016 international symposium on nonlinear theory and its applications. IEICE.
Schwendner, P. (2015) 'European government bond dynamics and stability policies : taming contagion risks', in 6th ESOBE Conference «Complexity in Economics», Gerzensee, 29. Oktober 2015.
Schwendner, P., Packham, N. and Papenbrock, J. (2014) 'Tail-risk protection trading strategies', in 8th World Congress of the Bachelier Finance Society, Brussels, Belgium, 2-6 June 2014.

Weitere Publikationen

Kotsch, R. et al. (2024) Network analysis of the global trade of hot air : key lessons for the Paris Agreement. SSRN. doi: 10.2139/ssrn.5038486.
Plepi, A. and Schwendner, P. (2024) A method for uncovering tokenisation archetypes and their effects : thus spoke Switzerland. SSRN. doi: 10.2139/ssrn.5017084.
Bolesta, K. et al. (2024) AI-driven failed trials in investment strategies : a network data analysis approach. SSRN. doi: 10.2139/ssrn.4944243.
Arakelian, V. et al. (2024) A discussion paper for possible approaches to building a statistically valid backtesting framework. SSRN. doi: 10.2139/ssrn.4893677.
Hillebrand, M. et al. (2024) Investor activity in EFSF/ESM secondary bond markets. Luxembourg: European Stability Mechanism. Available at: https://www.esm.europa.eu/publications/investor-activity-efsfesm-secondary-bond-markets.
Schwendner, P. and Posth, J.-A. (2024) 'Editorial: Trends in AI4ESG : AI for sustainable finance and ESG technology', Frontiers in Artificial Intelligence, 7(1448045). doi: 10.3389/frai.2024.1448045.
Posth, J.-A. et al. (2024) Bio-value-at-risk : a concept to assessing the implications of biodiversity risks on portfolio management using geospatial analysis. SSRN. doi: 10.2139/ssrn.4784271.
Teng, H.-W. et al. (2023) Mitigating digital asset risks. SSRN. doi: 10.2139/ssrn.4594467.
Henrici, A. et al. (eds) (2023) Artificial Intelligence in Finance and Industry : Volume II - Highlights from the 7th European Conference, 7th European COST Conference on Artificial Intelligence in Industry and Finance, Winterthur, Switzerland, 28 September 2022. Frontiers Research Foundation. Available at: https://www.frontiersin.org/research-topics/38909/.
Kimmerle, H., Schwendner, P. and Döbeli, S. (2023) The role of derivatives in sustainable investing : a practical guide to addressing sustainability-related challenges linked to the use of derivatives in sustainable portfolios. Zurich: Swiss Sustainable Finance. Available at: https://www.sustainablefinance.ch/upload/rm/ss/fs/ssf-spotlight-derivatives-final-1.pdf.
Henrici, A., Füchslin, R. M. and Schwendner, P. (2023) 'Editorial: Artificial Intelligence in Finance and Industry: volume II—highlights from the 7th European conference', Frontiers in Artificial Intelligence, 6(1267377). doi: 10.3389/frai.2023.1267377.
Orpiszewski, T., Thompson, M. J. and Schwendner, P. (2023) The stock and option market response to negative ESG news. SSRN. doi: 10.2139/ssrn.4478825.
Deflorin, P. et al. (eds) (2022) Artificial Intelligence in Finance and Industry : highlights from 6 European COST conferences, 5th European COST Conference on Artificial Intelligence in Industry and Finance, Winterthur, Switzerland (online), 3 September 2020. Frontiers Research Foundation. Available at: https://www.frontiersin.org/research-topics/18514/.
Papenbrock, J., Ashley, J. and Schwendner, P. (2022) 'Accelerated data science, AI and GeoAI for sustainable finance in central banking and supervision', in International Conference on 'Statistics for Sustainable Finance', Paris, France, 14-15 September 2021. Available at: https://www.bis.org/ifc/publ/ifcb56_23.pdf.
Hillebrand, M., Mravlak, M. and Schwendner, P. (2021) Investor demand in syndicated bond issuances : stylised facts. European Stability Mechanism. doi: 10.2852/793259.
Jaeger, M. et al. (2021) "Adaptive seriational risk parity" and other extensions for heuristic portfolio construction using machine learning and graph theory. SSRN. doi: 10.2139/ssrn.3806714.
Papenbrock, J. et al. (2020) Matrix evolutions : synthetic correlations and explainable machine learning for constructing robust investment portfolios. SSRN. doi: 10.2139/ssrn.3663220.
Jaeger, M. et al. (2020) Understanding machine learning for diversified portfolio construction by explainable AI. SSRN. doi: 10.2139/ssrn.3528616.
Posth, J.-A. et al. (2020) The applicability of self-play algorithms to trading and forecasting financial markets : a feasibility study. SSRN. doi: 10.2139/ssrn.3737714.
Giudici, P. et al. (2019) 'Editorial : AI and financial technology', Frontiers in Artificial Intelligence, 2(25). doi: 10.3389/frai.2019.00025.
Anhorn, R. and Schwendner, P. (2018) 'Das Hedge-Fund-Jahr hat die hohen Erwartungen erfüllt', Neue Zürcher Zeitung, p. 34.
Papenbrock, J. and Schwendner, P. (2017) 'Maschinelle Intelligenz für Asset-Allokation und Portfoliokonstruktion', Portfolio Institutionell, 2017(2), pp. 16–18.
Schwendner, P. (2017) 'The impact of the European Union's funding programs on bond yields', The Charter, 17, pp. 16–17.
Schwendner, P. (2016) 'The universe, an odd place', The Charter, 2016(13), pp. 13–16.
Schwendner, P. and Meier, P. (2016) 'Multi-Asset-Portfolios konvergieren zu Hedge Funds', Schweizer Personalvorsorge, 2016(11), pp. 2–3.
Kelly, S. et al. (2015) Stress test scenario : eurozone meltdown. Cambridge: Cambridge Centre for Risk Studies. Available at: https://www.jbs.cam.ac.uk/fileadmin/user_upload/research/centres/risk/downloads/crs-eurozone-meltdown-financial-catastrophe.pdf.
Packham, N. et al. (2015) Tail-risk protection trading strategies. Social Science Research Network. doi: 10.2139/ssrn.2702275.
Höllerich, J. and Schwendner, P. (2015) 'Social Trading als Renditekick : Follower kopieren Trader', Finanz und Wirtschaft, p. 23.
Papenbrock, J. and Schwendner, P. (2014) 'Jetzt absichern! Aber wie?', Portfolio Institutionell, 2014(1), pp. 16–19.
Papenbrock, J. and Schwendner, P. (2013) 'Dynamische Korrelationen : Wegweiser für Managed Futures', Portfolio Institutionell, 2013(6), pp. 12–15.

Mündliche Konferenzbeiträge und Abstracts

Posth, J.-A. et al. (2026) 'Bio-value-at-risk : a scenario-based concept to assessing the implications of biodiversity risks on financial portfolio management using geospatial analysis'. doi: 10.5194/wbf2026-75.
Hillebrand, M. et al. (2024) 'Investor activity in EFSF/ESM secondary bond markets', in 33rd European Conference on Operational Research (EURO), Copenhagen, Denmark, 30 June - 3 July 2024.
Schwendner, P. (2023) 'Case studies of primary and secondary market dynamics', in 16th International Conference of the ERCIM WG on Computational and Methodological Statistics, 17th International Conference on Computational and Financial Econometrics, Berlin, Germany, 16-18 December 2023.
Orpiszewski, T., Schwendner, P. and Thompson, M. J. (2022) 'How do stocks react to negative ESG incidents?', in SSF/ZHAW Novel Data Solutions: Big Data and AI for Sustainable Investing - from Biodiversity Risks to Sustainable Gold, Zurich, Switzerland, 2 November 2022.
Jaeger, M. et al. (2021) 'Interpretable machine learning for diversified portfolio construction', in 6th European Conference on Artificial Intelligence in Industry and Finance, Winterthur, Switzerland, 9 September 2021. Available at: https://www.zhaw.ch/storage/engineering/institute-zentren/iamp/sp_acss/Schwendner_Interpretable_ML_20210909.pdf.
Schwendner, P., Schuele, M. and Hillebrand, M. (2020) 'Convergence and divergence in European bond correlations', in 4th Regtech Workshop on AI in Finance, Vienna (Austria), 26 February 2020.
Schwendner, P., Schüle, M. and Hillebrand, M. (2019) 'Correlation influence networks for sentiment analysis in European sovereign bonds', in Financial Revolution - Sentiment Analysis, AI and Machine Learning, London, United Kingdom, 25-26 June 2019.
Schwendner, P. (2019) 'Convergence and divergence in European sovereign bonds', in 1st European Workshop on ML-Based Solutions in Finance, Winterthur, Schweiz, 4. September 2019.
Schwendner, P. (2019) 'Current European sovereign bond dynamics', in Zurich Volatility Investing Event, Zurich, Switzerland, 24 October 2019.
Schwendner, P. and Papenbrock, J. (2019) 'Financial application of network analysis', in Big Data Analytics Knowledge Exchange Platform M1 Fin – Tech HO2020 project, Copenhagen, Denmark, 26-27 August 2019.
Schwendner, P., Kotsch, R. and Betz, R. (2019) 'Risks in carbon markets : lessons-learned from the flexibility mechanism under the Kyoto Protocol', in UN Climate Change Conference (COP25), Side Events, Madrid (Spain), December 2019.
Hillebrand, M. et al. (2019) 'Predicting investor behaviour in European bond markets : a machine-learning approach', in 4th European Conference on Artificial Intelligence in Finance and Industry, Winterthur, Switzerland, 5 September 2019.
Betz, R., Schwendner, P. and Kotsch, R. (2019) 'Transfers of Kyoto units in the Swiss Emissions Trading Registry : a network analysis from 2007-2014', in 4th European Conference on Artificial Intelligence in Finance and Industry, Winterthur, Switzerland, 5 September 2019.
Schwendner, P. et al. (2018) 'Sentiment in European sovereign bonds', in 3rd European COST Conference on Mathematics for Industry in Switzerland, Winterthur, 6 September 2018. Available at: https://www.zhaw.ch/storage/engineering/institute-zentren/iamp/sp_acss/Schwendner_20180906.pdf.
Schwendner, P., Schüle, M. and Hillebrand, M. (2018) 'Correlation influence networks for sentiment analysis in European sovereign bonds', in Financial Revolution - Sentiment Analysis, AI and Machine Learning, Zürich, Switzerland, 30 October 2018.
Schüle, M., Ott, T. and Schwendner, P. (2018) 'Influence networks in financial markets : forecast scenarios', in NDES 2018, 26th Nonlinear Dynamics of Electronic Systems Conference, Acireale, Italy, June, 11-13 2018.
Schwendner, P., Schüle, M. and Hillebrand, M. (2017) 'Sovereign bond network dynamics', in Mathfinance Conference, Frankfurt, Germany, 20-21 April 2017.
Schwendner, P., Schüle, M. and Hillebrand, M. (2017) 'Network analytics of sovereign bond dynamics', in Frankfurt Summit on Network Analysis, Frankfurt, Germany, 26 October 2017.
Schwendner, P. (2017) 'Data-driven risk analytics', in 26th Risk Management Innovation Platform, Frankfurt a. M., 23 November 2017.
Schüle, M., Ott, T. and Schwendner, P. (2017) 'Forecasting correlation structures', in NDES 2017, 25th Nonlinear Dynamics of Electronic Systems Conference, Zernez, 5-7 June 2017. Available at: https://www.ini.uzh.ch/~lorimert/NDES2017/assets/NDES2017_programme_booklet.pdf.
Schüle, M. and Schwendner, P. (2016) 'European government bond dynamics and stability policies : taming contagion risks', in 9th Financial Risks International Forum, Paris, France, 21 March 2016.
Hillebrand, M. et al. (2016) 'European government bond dynamics and stability policies', in ADEMU Workshop on Risk-Sharing Mechanisms for the European Union, Fiesole, Italy, 20-21 May 2016.
Schwendner, P. (2015) 'Case study : global macro correlation dynamics in 2016', in TradeTech FX 2015, London. United Kingdom, 15-17 September 2015.
Schwendner, P., Schüle, M. and Hillebrand, M. (2015) 'European government bond dynamics and stability policies : taming contagion risks', in Financial Risk and Network Theory, Cambridge, United Kingdom, 9 September 2015.
Schwendner, P. and Papenbrock, J. (2014) 'Multi-asset correlation dynamics : impact for specific investment strategies and portfolio risk', in TSAM Europe: Performance Measurement & Investment Risk, London, United Kingdom, 1 March 2014. The Summit for Asset Management (TSAM).
Schwendner, P., Papenbrock, J. and Eichenberger, A. (2014) 'Currency correlations in various timeframes and what this means for trading strategies', in TradeTech FX 2014, London, United Kingdom, 16-18 September 2014.
Schwendner, P. (2013) 'New methodological answers to the new normal in risk and investment management', in PRMIA Chapter Event, Frankfurt, Germany, 4-5 November 2013. Professional Risk Managers" International Association (PRMIA).
Schwendner, P. and Papenbrock, J. (2013) 'Understanding the changing relationships in asset class correlation and the impact for trading FX', in TradeTech FX 2013, London. United Kingdom, 17-18 September 2013.

Publikationen vor Tätigkeit an der ZHAW

Engelmann, Bernd; Fengler, Matthias; Schwendner, Peter (2009). "Hedging under alternative stickiness assumptions: an empirical analysis for barrier options". Journal of Risk, 12
Engelmann, Bernd; Fengler, Matthias; Nalholm, Morten; Schwendner, Peter (2006). "Static versus Dynamic Hedges: An Empirical Comparison for Barrier Options". Review of Derivatives Research, 9, 3.
Fengler, Matthias; Schwendner, Peter (2004). "Quoting Multiasset Equity Options in the Presence of Errors from Estimating Correlations. Journal of Derivatives, 11, 4.
Engelmann, Bernd; Schwendner, Peter (1998). "The Pricing of Multi Asset Options using a Fourier Grid Method". Journal of Computational Finance, 1, 4.
Schwendner, Peter; Beck, Christian; Schinke, Reinhard (1998). “Ladder Climbing and Multiphoton Dissociation of Polyatomic Molecules Excited with Short Pulses: Basic Theory and Applications to HCO." Physical Review A, 58, 3.
Schwendner, Peter; Seyl, Frank; Schinke, Reinhard (1997). "Photodissociation of Ar_2^+ in Strong Laser Fields". Chemical Physics, 217, 2.
Fengler, Matthias; Pilz, Kay; Schwendner, Peter (2007). "Basket Volatility and Correlation": Nelken I. (ed.), "Volatility as an Asset Class". London: RISK Books.
Andreas, Annette; Engelmann, Bernd; Schwendner, Peter; Wystup, Uwe (2002). "Fast Fourier Method for the Valuation of Options on Several Correlated Currencies": Hakala J. (Ed.), U. Wystup (Ed.): Foreign Exchange Risk. London: RISK Books.
Schwendner, Peter; Engelmann, Bernd (2001). "Effizientes Pricing und Hedging von Multi-Asset Optionen": Eller, R. (Ed.), W. Gruber (Ed), C. Reif (Ed): Handbuch Gesamtbanksteuerung. Frankfurt: Schäffer-Poeschel.
Schwendner, Peter; Martin, Stephan; Papies, Simon (2002). "Transparentes Monte-Carlo-Verfahren zur Risikosteuerung im Aktienderivatebereich". Die Bank, 1
Schwendner, Peter; Engelmann, Bernd (2001). "Electronic Tools for Retail Hedging". Equity Risk Special Report, RISK, 1
Schwendner, Peter (2001). "Transparente Investmentstrategie durch konsistente Handelssysteme". Die Bank, 5

Übrige Publikationen

Interessenbindungen

Aktuelle Interessenbindungen

PanGeo Nature Risk GmbH: Gesellschafter und Geschäftsführer
Der ZHAW-Spinoff PanGeo Nature Risk GmbH bezweckt die Erbringung von Beratungs-, Analyse- und Forschungsdienstleistungen für Unternehmen, Politik, Nicht-Regierungs-Organisationen (NGOs) und Verwaltung sowie den Handel mit Lizenzen und Analyseprodukten., Winterthur
03 / 2025 - heute

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