WHU Team Advances to German Final

A team of students from WHU – Otto Beisheim School of Management has advanced to the German final of the CFA Institute Research Challenge following an outstanding financial analysis. Maxim Hofmann (BSc 2026), Moritz Kautzsch (MSc 2026), Bruno Kutz, Alice Puschkarow and Jonathan Wienciers (all BSc 2026) will represent WHU at the final, hosted in Frankfurt by CFA Society Germany, one of the leading professional associations in the investment industry.

“The CFA Institute Research Challenge offers students an excellent opportunity to gain first-hand experience in the field of investment,” said Professor Nic Schaub, Chair of Household Finance at WHU, who supported the team as Faculty Advisor. “Throughout their studies at WHU, students are thoroughly prepared for precisely these kinds of demanding tasks.”

As part of the competition, the students assumed the role of financial analysts and conducted an in-depth financial analysis and company valuation of BASF SE. Based on their findings, they developed an investment recommendation. Their analysis, valuation and recommendation were consolidated in a comprehensive report whose high quality secured the team’s place in the final round.

More than ten German universities initially participated in the preliminary round. Alongside WHU, Rheinland-Pfälzische Technische Universität Kaiserslautern-Landau and RWTH Aachen have qualified for the final.

During the final presentation on February 25, the jury will assess the financial analysis and company valuation as well as the evaluation of environmental, social, and governance factors. The overall quality of the presentation will also be taken into account. The winning team will qualify for a subregional round and may then proceed to the European regional semi-final. “The WHU team has produced an excellent report. I am confident that they will deliver a strong presentation on February 25,” Professor Schaub added.

About the CFA Institute Research Challenge

The CFA Institute Research Challenge is a global academic competition that connects the next generation of finance professionals with experienced mentors from the investment industry each year. In Germany, the competition has been organized by CFA Society Germany since 2010, following its inaugural edition in New York in 2002. Participating teams are supported by faculty advisors and industry mentors who provide guidance throughout the process.

About CFA Institute & CFA Society Germany e. V.

CFA Institute is a global not-for-profit professional organization dedicated to promoting the highest standards of ethics, education and professional excellence in the investment industry. It is widely recognized as a trusted source of expertise in capital markets. The organization’s mission is to create an environment in which investors’ interests come first, markets function effectively and economies grow. Worldwide, nearly 200,000 CFA charterholders are active across 160 markets. CFA Institute operates through ten offices and 160 local societies globally. In Germany, it has been represented by CFA Society Germany since 2000. With more than 2,900 members, it is the country’s largest professional association for investment professionals and portfolio managers.