CRO Dr Clemens Völkert to leave ECC / Dr Ralf Prinzler designated successor
Leipzig, 27 March 2024 – Dr Clemens Völkert, Chief Risk Officer (CRO) of European Commodity Clearing (ECC) will leave the company at the end of March 2024. Clemens Völkert did not seek an extension of his contract for personal reasons. He has been CRO of ECC since July 2021.
The Supervisory Board agreed to Clemens Völkert’s request and intends to appoint Dr Ralf Prinzler, currently Head of Risk Controlling at KfW, as his successor. Ralf Prinzler will join the company as Director Risk Management on 1 July 2024. The appointment as CRO is subject to regulatory requirements as well as the approval or non-objection of the Federal Financial Supervisory Authority and targeted for 1 January 2025. Until the appointment of the new CRO, the duties of this role will be taken over by Dr Tobias Paulun, CEO of ECC.
Dr Tobias Paulun comments: “We are delighted to welcome Ralf to ECC. He will bring extensive experience in the risk management segment and we are looking forward to working with him on the overall risk strategy and the implementation of ongoing projects. I’d like to also thank Clemens for all his dedication to ECC over the years as he made a significant contribution in strengthening ECC’s leading position as clearing house for energy and commodity transactions in Europe. In particular, this comprises initiating one of the most important projects for now and the upcoming years, the transitioning of our margining model to a portfolio-based Value-at-Risk approach, which will bring ECC’s risk management to the next level.”
Heike Eckert, Chairwoman of the Supervisory Board at ECC, comments: ”We are convinced that Ralf will be a great addition to the ECC team and look forward to welcoming him shortly. On behalf of the Supervisory Board I would like to thank Clemens for his contribution in ensuring stable risk management over the last years, providing security on energy markets throughout their recent high volatility.”
European Commodity Clearing (ECC) is a central clearing house which specialises in energy and commodity products. ECC assumes the counterparty risk and guarantees the physical and financial settlement of transactions, providing security and cross-margining benefits for its customers. As part of EEX Group, ECC provides clearing services for EEX, EEX Asia and EPEX SPOT and for the partner exchanges HUPX, HUDEX, NOREXECO, SEEPEX and SEMOpx. For more information, please visit www.ecc.de
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