Michael Römmich, Head of Valuation at RWE Supply & Trading; Rüdiger Kiesel, Professor of the chair "Energy & Finance" at University Duisburg-Essen; Professor Michael Goedicke, Dean of the Faculty of Business Sciences at the University of Duisburg-Essen (from the left to the right side).
Rüdiger Kiesel was born in Bad Bocklet/Aschach in Lower Franconia. He habilitated in mathematics at the University of Ulm in 1995 and most recently was Professor and Head of the Institute of Financial Mathematics at the University of Ulm. Kiesel also holds guest professorships at the London School of Economics and the University of Oslo. His two areas of specialisation are the modelling and analysis of financial derivatives – for fuels or electricity, for example – and risk management, both of which play an important role in energy trading.
The chair of energy trading and financial services is based at the University’s Essen campus and employs five research assistants in addition to the professor himself. A total of 16 students have embarked on a master’s degree course in energy & finance since the winter semester 2008.
In a series of events and initiatives, the chair will examine and explain how trading in electricity, gas, coal, oil, carbon and other commodities as well as the relevant financial products actually works. The idea for such a chair came from RWE Supply & Trading, which moved into its new headquarters in the vicinity of the University in Essen in March of this year. At the heart of the new premises, in which some 800 people work, is the energy trading floor: this alone occupies an area of 3,000 square metres, making it the largest of its kind in Europe with room for 250 work spaces.