Frankfurt School’s Master of Finance Programme (MoF), with the Risk Management concentration is the first programme in Germany to be accredited by Global Association of Risk Professionals (GARP), covering 70% of the Financial Risk Manager (FRM®) Part I and Part II examination knowledge. Frankfurt School plays an important role in supporting GARP’s efforts in preparing the next generation of risk professionals equipped with best global practices and dedicated to the advancement of the risk profession through high quality education and research.
Through this important academic partnership, our students acquire the necessary skills and techniques required by the global risk management profession. In December 2020, two MoF students, Hauke Lehnhoff and Lucas Peikert, won the prestigious GARP Research Award to conduct research on the ”Impact of Fiscal and Monetary Policy on Asset Liquidity Metrics”. Hauke is currently a FIRM Risk Management Scholar in the Msc. of Finance Class of 2022 and Associate at KPMG, Risk Management Advisory for Banks and Insurance and Research Assistant at Frankfurt School, while his fellow student Lucas, who is also a Research Assistant at Frankfurt School and Management Consultant at Cofinpro, advises asset managers and banks on innovation strategy for securities and payment services. This is a great achievement for which Frankfurt School is proud of, with its students being committed to understanding the impact of stimulus packages of the German Government and European Central Bank (ECB) on asset liquidity risks.
The goal of Lucas and Hauke’s research is to address and analyse the impact of the ECB or the German Government on asset liquidity and to evaluate whether their findings are particularly divergent in some industries. They want to assess if certain metrics differed from each other and how investors reacted to those potential changes. They will be using metrics like bid-ask-spreads, Amihud illiquidity indicators or Hui-Heubel liquidity ratios in principal component analysis and dynamic factor models to find answers to their research questions.
In their own words, Hauke and Lucas indicated that with this research, they intend to address market participants and institutional investors, but also regulators such as the ECB. This can create new investment, risk management and market stability approaches for market participants as well as help government bodies in their crisis management efforts. Prof. Dr. Greg Vilkov, Academic Director of MoF at Frankfurt School serves as mentor and supports the team sharing his subject matter as well as methodological expertise.
Prior to joining Frankfurt School, Lucas worked for the German Parliament on trade deals, for venture capital funds and strategy consultancies in London and Abu Dhabi, while Hauke has prior work experience in a finance and risk department at a MDAX Company and the development cooperation sector with international work experience in Egypt and South Africa.
Frankfurt School wishes its very best to Hauke and Lucas to succeed in achieving their research goals in collaboration with our academic partner GARP!