Meet the Professional Traders that Teamed Up to Revolutionize Risk Management

About Wayne Penello and Andrew Furman | R-Squared

Wayne Penello

Wayne Penello is the CEO, president, and founder of Risked Revenue Energy Associates (R^2 or “R squared”). Since 2001, his firm has been developing financial solutions for corporations and private equity firms that wish to enter, optimize, or exit the energy-trading/marketing arena. R^2 currently assists clients with the management of more than $65 billion in assets. In 2010, Wayne was awarded a patent for R^2’s methodology for quantifying risk (US Patent 7,822,670B2). He has forty years of market-making, option-trading, and asset-management experience in the energy industry.

He earned a master’s degree in marine sciences from Stony Brook University and an undergraduate degree in marine biology from Southampton College. “The life of a research scientist I had been living was slow and methodical,” Wayne remembers. “Needless to say, I was drawn to the trading floor like a moth to a flame.” Wayne’s career began on the New York Mercantile Exchange, where he became a market maker and served as ring chairman of options trading. After 10 years he left the trading floor to hold positions managing globally distributed energy assets for Vitol S.A., Vitol U.S.A., Tenneco Gas Marketing, and Torch Energy. Wayne was formerly a research scientist.

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Andrew Furman

Andrew Furman has thirty-five years of experience in energy and trading. For the past ten years at R^2, he has delivered hedge solutions to senior management of public corporations, private firms, institutions, and utilities. After serving as a managing director at two hedge funds, he assisted in the growth of R^2 through the deployment of its patented analytics. A risk-management and financial-engineering expert, Furman received a bachelor of science degree in chemical engineering from MIT.

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