Helga Jung

If you had to explain your job to child, how would you describe what you do?

Helga Jung: I work in mergers and acquisitions, buying and selling companies in the core Allianz business areas – insurance, asset management, and banking, although there is now much less focus on this third area. To illustrate the buying aspect of the job, I would tell a child: Imagine your friend Jimmy offers to sell you his used soccer shoes for 25 euros. Before you decide to buy them, what questions would you ask yourself?

First of all you would think about whether you really needed the soccer shoes. Do you really enjoy playing soccer, or are you more interested in golf, the internet, or something else? Once you decide you want to invest in the shoes, then the next question is, can you afford them? Do you have the 25 euros or can you finance them by borrowing the money (from Grandma, for example)?

It's basically the same for us at Allianz. If we decide to invest in the company, we ask ourselves: Can we afford it or can we finance it? What effect will it have on our capital base?

During the last two years we have tended more toward the selling side, for example we sold Dresdner Bank, and we recently sold two Swiss insurance companies to Helvetia.

Don't the "shoes" have to fit too?

Jung: If we go forward with a project, then we go on to the next question: Is this a good fit? Does the company really fit with our portfolio both from a regional perspective and in terms of business area? Is it the right size? Do we face any anti-trust issues or other challenges, especially with regard to integration?

Then the next question is whether or not the price is right. And this means we will most certainly check the "shoes" to see whether they are still in good shape or not. How do the cleats etc. look? With companies, we analyze the company systematically and try to find out what the risks and opportunities are. For us and for the child the question is, are we paying the right price for what we're getting? That's more or less what I do.

What do you like most about your job?

Jung: As you can imagine, my job is mainly project driven, so there is no daily routine. That is what I enjoy most about my job. I'm always meeting different people and dealing with different authorities, countries and advisors. So there is always something new, in terms of knowledge, specific businesses and products. Those are the reasons why I really like my job and why I'm not bored, even after ten years of doing it.

What advice do you have for women who aspire to be top managers?

Jung: First of all, based on my personal experience I would give the same advice whether it were to a woman or a man. In my 17 years at Allianz I have felt neither advantaged nor disadvantaged in being a woman. My advice to all young colleagues is pretty simple: Do your job as well as you can and gain as much experience as you can.

On top of this, I think it's also important to stick to a fact-based opinion. Don't be swayed by what the boss might think or might expect as an outcome. Trust yourself. I have followed that principle throughout my professional career, and the approach has worked for me. I think that if an organization works – and I know Allianz does – then it will pay off.

Helga Jung
Helga Jung

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