Michael Diekmann (born December 23, 1954) is a German manager who served as the CEO of Allianz in between 2003 and 2015.

Early life and education

Diekmann knew early that the family construction business would go to his twin brother, who was more interested in engineering. Instead, he earned his degree from Goettingen University, where he studied law and philosophy.

Career

Diekmann began his career with Allianz in 1988 after becoming frustrated with his own business, a publishing house that focused on travel guides. During his career, he later worked in Australia and the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...

, where he successfully revamped the

Fireman's Fund Insurance Company Fireman's Fund Insurance Company was an insurance company based in Petaluma, California which provided personal and commercial property and casualty insurance products in the United States. The company was a principal U.S. subsidiary of Allian ...

, the Allianz subsidiary there. In 1996, he moved to

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bor ...

to run Allianz's Asia-Pacific business front.European CEO
/ref> As CEO, Diekmann steered Allianz through a difficult period at the start of the century, moving it from a low point in profitability to a bumper year in 2013 with an operating profit of €10.1 billion. Under his leadership, the insurer also converted its legal form, then

Aktiengesellschaft (; abbreviated AG, ) is a German word for a corporation limited by share ownership (i.e. one which is owned by its shareholders) whose shares may be traded on a stock market. The term is used in Germany, Austria, Switzerland (where it is equi ...

, or German joint-stock company, to

Societas Europaea A ''societas Europaea'' (, ; "European society" or "company"; plural: ; abbr. SE) is a public company registered in accordance with the corporate law of the European Union (EU), introduced in 2004 with the Council Regulation on the Statute f ...

(SE) in 2006. By 2014, Allianz had grown to become the world’s second-biggest investor after

BlackRock BlackRock, Inc. is an American multi-national investment company based in New York City. Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager, with trill ...

. That same year, Diekmann weathered a hailstorm of criticism about the sagging performance at the firm’s asset manager, Pimco. Diekmann's total compensation from 2010 was around one hundred and five million Euros. In late 2014, it was announced that Diekmann, would step down the following year after he turned 60, which is traditionally the age limit for board members at Allianz. At the time, investors widely expected him to stay in his role for a further one to two years.

Other activities

Corporate boards

Temasek Holdings Temasek Holdings (Private) Limited, or simply Temasek, is a Singaporean state holding company owned by the Government of Singapore. Incorporated on 25 June 1974, Temasek owns and manages a total of US$496.59 billion (S$671 billion) in assets u ...

, Member of the European Advisory Panel (since 2016) *

Linklaters Linklaters LLP is a multinational law firm, headquartered in London, England. Founded in 1838, it is a member of the " Magic Circle" of elite London-headquartered law firms. It currently employs over 5,000 lawyers across 31 offices in 21 coun ...

, Member of the International Advisory Group (since 2016) * Fresenius, Deputy Chairman of the Supervisory Board (since 2015) * Siemens, Member of the Supervisory Board (since 2008) *

BASF BASF SE () is a German multinational chemical company and the largest chemical producer in the world. Its headquarters is located in Ludwigshafen, Germany. The BASF Group comprises subsidiaries and joint ventures in more than 80 countries ...

, Member of the Supervisory Board (2003-2019) * Linde, Deputy Chairman of the Supervisory Board (2003-2017) * Lufthansa, Member of the Supervisory Board (2003-2008)

Non-profit organizations

* Allianz Umweltstiftung, Deputy Chairman of the Board of Trustees (-2015) *

European School of Management and Technology The European School of Management and Technology, also known as ESMT Berlin, is a private non-profit business school based in Berlin, Germany. The business school was founded in 2002 by 25 global companies and institutions including McKinsey & Co ...

(ESMT), Chairman of the Board of Trustees (2007-2015) * Siemens Stiftung, Member of the Board of Trustees * International Business Leaders Advisory Council for the Mayor of Shanghai (IBLAC), Member *

Monetary Authority of Singapore The Monetary Authority of Singapore (MAS) is the central bank and financial regulatory authority of Singapore. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well ...

, Member of the Advisory Board *

Munich Security Conference The Munich Security Conference (MSC; german: Münchner Sicherheitskonferenz) is an annual conference on international security policy that has been held in Munich, Bavaria, Germany since 1963. Former names are ''Wehrkundetagung'' and ''Münchner ...

, Member of the Advisory Council (2008-2015)Advisory Council

. * Pan-European Insurance Forum (PEIF), Member (2003-2015) * Geneva Association, Vice Chairman (2003-2015)

References

{{DEFAULTSORT:Diekmann, Michael 1954 births Living people Businesspeople from Bielefeld BASF people