Prof. Dr. Peter Schwendner

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

+41 (0) 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
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

Social Media

Projekte

Publikationen

Beiträge in wissenschaftlicher Zeitschrift, peer-reviewed

Sutiene, Kristina; Schwendner, Peter; Sipos, Ciprian; Lorenzo, Luis; Mirchev, Miroslav; Lameski, Petre; Kabasinskas, Audrius; Tidjani, Chemseddine; Ozturkkal, Belma; Cerneviciene, Jurgita,

2024.

Enhancing portfolio management using artificial intelligence : literature review.

Frontiers in Artificial Intelligence.

7(1371502).

Verfügbar unter: https://doi.org/10.3389/frai.2024.1371502
Hillebrand, Martin; Mravlak, Marko; Schwendner, Peter,

2023.

Investor demand in syndicated EFSF/ESM bond issuances.

Open Research Europe.

3(96).

Verfügbar unter: https://doi.org/10.12688/openreseurope.15961.1
De Meer Pardo, Fernando; Schwendner, Peter; Wunsch, Marcus,

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), S. 110-132.

Verfügbar unter: https://doi.org/10.3905/jfds.2022.1.109
Posth, Jan-Alexander; Kotlarz, Piotr Kamil; Hadji Misheva, Branka; Osterrieder, Jörg; Schwendner, Peter,

2021.

The applicability of self-play algorithms to trading and forecasting financial markets.

Frontiers in Artificial Intelligence.

4(668465).

Verfügbar unter: https://doi.org/10.3389/frai.2021.668465
Papenbrock, Jochen; Schwendner, Peter; Jaeger, Markus; Krügel, Stephan,

2021.

Matrix evolutions : synthetic correlations and explainable machine learning for constructing robust investment portfolios.

The Journal of Financial Data Science.

3(2), S. 51-69.

Verfügbar unter: https://doi.org/10.3905/jfds.2021.1.056
Schwendner, Peter; Papenbrock, Jochen; Jaeger, Markus; Krügel, Stephan,

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), S. 65-83.

Verfügbar unter: https://doi.org/10.3905/jfds.2021.1.078
Jaeger, Markus; Krügel, Stephan; Marinelli, Dimitri; Papenbrock, Jochen; Schwendner, Peter,

2021.

Interpretable machine learning for diversified portfolio construction.

The Journal of Financial Data Science.

3(3), S. 31-51.

Verfügbar unter: https://doi.org/10.3905/jfds.2021.1.066
Schwendner, Peter,

2020.

Advances in financial machine learning.

Quantitative Finance.

20(2), S. 189-190.

Verfügbar unter: https://doi.org/10.1080/14697688.2019.1703030
Schwendner, Peter; Schüle, Martin; Hillebrand, Martin,

2019.

Sentiment analysis of European bonds 2016 - 2018.

Frontiers in Artificial Intelligence.

2(20).

Verfügbar unter: https://doi.org/10.3389/frai.2019.00020
Packham, Natalie; Papenbrock, Jochen; Schwendner, Peter; Woebbeking, Fabian,

2016.

Tail-risk protection trading strategies.

Quantitative Finance.

17(5), S. 729-744.

Verfügbar unter: https://doi.org/10.1080/14697688.2016.1249512
Schwendner, Peter; Schüle, Martin; Ott, Thomas; Hillebrand, Martin,

2015.

European government bond dynamics and stability policies : taming contagion risks.

Journal of Network Theory in Finance.

1(4), S. 1-25.

Verfügbar unter: https://doi.org/10.21314/JNTF.2015.012
Papenbrock, Jochen; Schwendner, Peter,

2015.

Handling risk-on/risk-off dynamics with correlation regimes and correlation networks.

Financial Markets and Portfolio Management.

29(2), S. 125-147.

Verfügbar unter: https://doi.org/10.1007/s11408-015-0248-2

Konferenzbeiträge, peer-reviewed

Schwendner, Peter; Hillebrand, Martin; Mravlak, Marko,

2022.

Investor demand in syndicated bond issuances : stylised facts [Paper].

In:

32nd EURO Conference, Espoo Finland 3-6 July 2022.
Schüle, Martin; Ott, Thomas; Schwendner, Peter,

2016.

Forecasting correlation structures [Paper].

In:

Proceedings of the 2016 international symposium on nonlinear theory and its applications.

2016 International Symposium on Nonlinear Theory and Its Applications (NOLTA2016), Yugawara, Japan, 27-30 November 2016.

IEICE.
Schwendner, Peter,

2015.

European government bond dynamics and stability policies : taming contagion risks [Poster].

In:

6th ESOBE Conference «Complexity in Economics», Gerzensee, 29. Oktober 2015.
Schwendner, Peter; Packham, Nathalie; Papenbrock, Jochen,

2014.

Tail-risk protection trading strategies [Poster].

In:

8th World Congress of the Bachelier Finance Society, Brussels, Belgium, 2-6 June 2014.

Weitere Publikationen

Arakelian, Veni; Bolesta, Karolina; Vlah Jeric, Silvija; Liu, Yiting; Osterrieder, Joerg; Potì, Valerio; Schwendner, Peter; Sutiene, Kristina; Weinberg, Abraham Itzhak,

2024.

A discussion paper for possible approaches to building a statistically valid backtesting framework.

SSRN.

Verfügbar unter: https://doi.org/10.2139/ssrn.4893677
Hillebrand, Martin; Mravlak, Marko; Breitsamter, Lorenz; Schwendner, Peter,

2024.

Investor Activity in EFSF/ESM secondary bond markets.

Working Paper Series

; 62.

Luxembourg:

European Stability Mechanism.

Verfügbar unter: https://www.esm.europa.eu/publications/investor-activity-efsfesm-secondary-bond-markets
Schwendner, Peter; Posth, Jan-Alexander,

2024.

Editorial: Trends in AI4ESG : AI for sustainable finance and ESG technology.

Frontiers in Artificial Intelligence.

7(1448045).

Verfügbar unter: https://doi.org/10.3389/frai.2024.1448045
Posth, Jan-Alexander; Schwendner, Peter; Laube, Patrick; Orpiszewski, Tomasz,

2024.

Bio-value-at-risk : a concept to assessing the implications of biodiversity risks on portfolio management using geospatial analysis.

SSRN.

Verfügbar unter: https://doi.org/10.2139/ssrn.4784271
Kimmerle, Hendrik; Schwendner, Peter; Döbeli, Sabine,

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.

Verfügbar unter: https://www.sustainablefinance.ch/upload/rm/ss/fs/ssf-spotlight-derivatives-final-1.pdf
Henrici, Andreas; Füchslin, Rudolf M.; Schwendner, Peter,

2023.

Editorial: Artificial Intelligence in Finance and Industry: volume II—highlights from the 7th European conference.

Frontiers in Artificial Intelligence.

6(1267377).

Verfügbar unter: https://doi.org/10.3389/frai.2023.1267377
Orpiszewski, Tomasz; Thompson, Mark James; Schwendner, Peter,

2023.

The stock and option market response to negative ESG news.

SSRN.

Verfügbar unter: https://doi.org/10.2139/ssrn.4478825
Henrici, Andreas; Schwendner, Peter; Deflorin, Patricia; Wilhelm, Dirk; Füchslin, Rudolf Marcel, Hrsg.,

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.

.

Verfügbar unter: https://www.frontiersin.org/research-topics/38909/
Papenbrock, Jochen; Ashley, John; Schwendner, Peter,

2022.

Accelerated data science, AI and GeoAI for sustainable finance in central banking and supervision [Paper].

In:

International Conference on "Statistics for Sustainable Finance", Paris, France, 14-15 September 2021.

Verfügbar unter: https://www.bis.org/ifc/publ/ifcb56_23.pdf
Deflorin, Patricia; Füchslin, Rudolf Marcel; Henrici, Andreas; Osterrieder, Joerg; Schwendner, Peter; Wilhelm, Dirk, Hrsg.,

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.

.

Verfügbar unter: https://www.frontiersin.org/research-topics/18514/
Jaeger, Markus; Krügel, Stephan; Papenbrock, Jochen; Schwendner, Peter,

2021.

'Adaptive seriational risk parity' and other extensions for heuristic portfolio construction using machine learning and graph theory.

SSRN.

Verfügbar unter: https://doi.org/10.2139/ssrn.3806714
Hillebrand, Martin; Mravlak, Marko; Schwendner, Peter,

2021.

Investor demand in syndicated bond issuances : stylised facts.

Working Paper Series

; 50.

European Stability Mechanism.

ISBN 978-92-95223-11-0.

Verfügbar unter: https://doi.org/10.2852/793259
Posth, Jan-Alexander; Hadji Misheva, Branka; Kotlarz, Piotr Kamil; Osterrieder, Jörg; Schwendner, Peter,

2020.

The applicability of self-play algorithms to trading and forecasting financial markets : a feasibility study.

SSRN.

Verfügbar unter: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3737714
Papenbrock, Jochen; Schwendner, Peter; Jaeger, Markus; Krügel, Stephan,

2020.

Matrix evolutions : synthetic correlations and explainable machine learning for constructing robust investment portfolios.

SSRN.

Verfügbar unter: https://doi.org/10.2139/ssrn.3663220
Jaeger, Markus; Krügel, Stephan; Marinelli, Dimitri; Papenbrock, Jochen; Schwendner, Peter,

2020.

Understanding machine learning for diversified portfolio construction by explainable AI.

SSRN.

Verfügbar unter: https://doi.org/10.2139/ssrn.3528616
Giudici, Paolo; Hochreiter, Ronald; Osterrieder, Jörg; Papenbrock, Jochen; Schwendner, Peter,

2019.

Editorial : AI and financial technology.

Frontiers in Artificial Intelligence.

2(25).

Verfügbar unter: https://doi.org/10.3389/frai.2019.00025
Anhorn, Regina; Schwendner, Peter,

2018.

Das Hedge-Fund-Jahr hat die hohen Erwartungen erfüllt.

Neue Zürcher Zeitung.

S. 34.
Schwendner, Peter,

2017.

The impact of the European Union’s funding programs on bond yields.

The Charter.

17, S. 16-17.
Papenbrock, Jochen; Schwendner, Peter,

2017.

Maschinelle Intelligenz für Asset-Allokation und Portfoliokonstruktion.

Portfolio Institutionell.

2017(2), S. 16-18.
Schwendner, Peter; Meier, Peter,

2016.

Multi-Asset-Portfolios konvergieren zu Hedge Funds.

Schweizer Personalvorsorge.

2016(11), S. 2-3.
Schwendner, Peter,

2016.

The universe, an odd place.

The Charter.

2016(13), S. 13-16.
Packham, Natalie; Papenbrock, Jochen; Schwendner, Peter; Woebbeking, Fabian,

2015.

Tail-risk protection trading strategies.

Social Science Research Network.

Verfügbar unter: https://doi.org/10.2139/ssrn.2702275
Höllerich, Johannes; Schwendner, Peter,

2015.

Social Trading als Renditekick : Follower kopieren Trader.

Finanz und Wirtschaft.

S. 23.
Kelly, Scott; Chaplin, Andrew; Coburn, Andrew; Copic, Jennifer; Evan, Tamara; Neduv, Eugene; Ralph, Daniel; Ruffle, Simon; Schwendner, Peter; Skelton, Andrew; Yeo, Jaclyn Zhiyi,

2015.

Stress test scenario : eurozone meltdown.

Cambridge:

Cambridge Centre for Risk Studies.

Verfügbar unter: https://www.jbs.cam.ac.uk/fileadmin/user_upload/research/centres/risk/downloads/crs-eurozone-meltdown-financial-catastrophe.pdf
Papenbrock, Jochen; Schwendner, Peter,

2014.

Jetzt absichern! Aber wie?.

Portfolio Institutionell.

2014(1), S. 16-19.
Papenbrock, Jochen; Schwendner, Peter,

2013.

Dynamische Korrelationen : Wegweiser für Managed Futures.

Portfolio Institutionell.

2013(6), S. 12-15.

Mündliche Konferenzbeiträge und Abstracts

Hillebrand, Martin; Mravlak, Marko; Lorenz Breitsamter, Lorenz; Schwendner, Peter,

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, Peter,

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, Tomasz; Schwendner, Peter; Thompson, Mark James,

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, Markus; Krügel, Stephan; Marinelli, Dimitri; Papenbrock, Jochen; Schwendner, Peter,

2021.

Interpretable machine learning for diversified portfolio construction.

In:

6th European Conference on Artificial Intelligence in Industry and Finance, Winterthur, Switzerland, 9 September 2021.

Verfügbar unter: https://www.zhaw.ch/storage/engineering/institute-zentren/iamp/sp_acss/Schwendner_Interpretable_ML_20210909.pdf
Schwendner, Peter; Schuele, Martin; Hillebrand, Martin,

2020.

Convergence and divergence in European bond correlations.

In:

4th Regtech Workshop on AI in Finance, Vienna (Austria), 26 February 2020.
Schwendner, Peter; Kotsch, Raphaela; Betz, Regina,

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, Martin; Schwendner, Peter; Winant, Bastien; Mravlak, Marko,

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, Regina; Schwendner, Peter; Kotsch, Raphaela,

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, Peter,

2019.

Convergence and divergence in European sovereign bonds.

In:

1st European Workshop on ML-Based Solutions in Finance, Winterthur, Schweiz, 4. September 2019.
Schwendner, Peter; Schüle, Martin; Hillebrand, Martin,

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, Peter,

2019.

Current European sovereign bond dynamics.

In:

Zurich Volatility Investing Event, Zurich, Switzerland, 24 October 2019.
Schwendner, Peter; Papenbrock, Jochen,

2019.

Financial application of network analysis.

In:

Big Data Analytics Knowledge Exchange Platform M1 Fin – Tech HO2020 project, Copenhagen, Denmark, 26-27 August 2019.
Schüle, Martin; Ott, Thomas; Schwendner, Peter,

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, Peter; Schüle, Martin; Hillebrand, Martin,

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.
Schwendner, Peter; Schüle, Martin; Ott, Thomas; Hillebrand, Martin,

2018.

Sentiment in European sovereign bonds.

In:

3rd European COST Conference on Mathematics for Industry in Switzerland, Winterthur, 6 September 2018.

Verfügbar unter: https://www.zhaw.ch/storage/engineering/institute-zentren/iamp/sp_acss/Schwendner_20180906.pdf
Schüle, Martin; Ott, Thomas; Schwendner, Peter,

2017.

Forecasting correlation structures.

In:

NDES 2017, 25th Nonlinear Dynamics of Electronic Systems Conference, Zernez, 5-7 June 2017.

Verfügbar unter: https://www.ini.uzh.ch/~lorimert/NDES2017/assets/NDES2017_programme_booklet.pdf
Schwendner, Peter,

2017.

Data-driven risk analytics.

In:

26th Risk Management Innovation Platform, Frankfurt a. M., 23 November 2017.
Schwendner, Peter; Schüle, Martin; Hillebrand, Martin,

2017.

Network analytics of sovereign bond dynamics.

In:

Frankfurt Summit on Network Analysis, Frankfurt, Germany, 26 October 2017.
Schwendner, Peter; Schüle, Martin; Hillebrand, Martin,

2017.

Sovereign bond network dynamics.

In:

Mathfinance Conference, Frankfurt, Germany, 20-21 April 2017.
Hillebrand, Martin; Ott, Thomas; Schüle, Martin; Schwendner, Peter,

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.
Schüle, Martin; Schwendner, Peter,

2016.

European government bond dynamics and stability policies : taming contagion risks.

In:

9th Financial Risks International Forum, Paris, France, 21 March 2016.
Schwendner, Peter,

2015.

Case study : global macro correlation dynamics in 2016.

In:

TradeTech FX 2015, London. United Kingdom, 15-17 September 2015.
Schwendner, Peter; Schüle, Martin; Hillebrand, Martin,

2015.

European government bond dynamics and stability policies : taming contagion risks.

In:

Financial Risk and Network Theory, Cambridge, United Kingdom, 9 September 2015.

Verfügbar unter: https://www.jbs.cam.ac.uk/fileadmin/user_upload/research/centres/risk/downloads/150909_slides_schwendner.pdf
Schwendner, Peter; Papenbrock, Jochen; Eichenberger, Alexander,

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, Peter; Papenbrock, Jochen,

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, Peter,

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, Peter; Papenbrock, Jochen,

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

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