UniCredit appoints Allianz director

UniCredit has appointed Helga Jung as a new member of the board of directors, to represent Allianz SE. The German insurance group holds a 2.043% share in the Italian financial services group.

Jung takes the place of Enrico Tomaso Cucchiani, who has left his role as head of Allianz’s business in Italy to join Intesa Sanpaolo as a director. He replaced Corrado Passera, who left to join Mario Monti’s government.

At Allianz, she was the first woman to join the board, but joins Lucrezia Richelin and Marianna Li Calzi on the board at UniCredit. She joined Allianz in 1993, rising to become head of the mergers and acquisitions division in 2000 and later head of the insurance division for Spain and Latin America. This month, she was appointed to the board of Allianz.

Other UniCredit shareholders with more than a 2% share are: the Milanese investment bank Mediobanca (5.247%); the International Petroleum Investment Company, from Abu Dhabi (4.991%); Libyan Central Bank ad Libyan Investment Authority (4.988% and 2.594% respectively); and three Italian foundations (11.440%).

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