Siegfried Ruhl is Hors Classe Adviser in the Directorate-General for Budget of the European Commission since 1 December 2021. Since October 2020 he was seconded by the European Stability Mechanism (ESM) to the European Commission. As Counselor to the Director General in the Directorate-General for Budget of the European Commission he supported the European Commission in the funding of NGEU. At the ESM he was Head of Funding & Investor Relations and responsible for the management of €300 billion of outstanding debt with a more than €80 billion funding programmes in bonds and bills for both ESM and European Financial Stability Facility (EFSF). He was also in charge of the management of the funding related derivatives transactions. Additionally he managed the communication and relationship with more than 1700 investors. Siegfried Ruhl officially joined ESM in January 2013 but he was already heading the division that established the funding programme for EFSF at the Bundesrepublik Deutschland Finanzagentur, which was initially responsible for issuing the EFSF bonds and bills. Prior to this, he had worked in the trading and issuing business at the Bundesrepublik Deutschland Finanzagentur for 11 years. He also worked for the Deutsche Bundesbank for six years, where he started his career in financial markets as a trader at the Frankfurt Stock Exchange. Siegfried Ruhl graduated in Business Administration from the University of Applied Science in Hachenburg.