Nurten Erdogan to become CFO of ING Germany
Giving up is not an option. „When I set my mind to something, I almost always followed through with it,“ says the new ING CFO Nurten Erdogan clearly, flanking her statement with a broad smile. With an unwavering determination, curiosity, empathy and a solid set of values, the 54-year-old German-Turkish woman has worked her way up to the top of the financial industry. After joining Deutsche Bank as a trainee in 1998 and spending six months at Dresdner Bank in Shanghai, she quickly took on responsibility.
When I set my mind to something, I almost always followed it through.
With PwC to Amsterdam
First at the consulting firm PwC, where she was appointed to Amsterdam to set up a business unit and where she passed the exam to become an auditor. Later at Deutsche Bank and Commerzbank, where she worked for many years in a responsible position in the strategy departments. She further looked for suitable takeover targets in the M&A sector for her own companies, prepared competitive analyses and also made up a large part of her work in retail banking. In 2019, she finally joined the German branch of Société Générale as CFO and also took on the role of Chief Operating Officer in 2021.
Erdogan joined ING Germany nine months ago, initially as Chief Representative and Deputy CFO. Following the departure of CFO Norman Tambach in the summer, she took over the operational management of the CFO units and officially assumed the position on the Management Board on 1st of April after receiving the supervisory blessing.
Erdogan's strong motivation and open manner opened doors for her. She moved to Germany from Turkey with her family at the age of ten. „I was really looking forward to the change. That's why I was also open to making new friends here quickly.“ She was sent to secondary school because she didn't know a word of German. „It was clear to me as a ten-year-old that I had to learn the language quickly in order to be part of a playgroup, the class, society,“ she says.
She always carried a little book with her, in which she wrote down words she didn't know when she was out so that she could look them up at home, she recalls. After a good six months, she had mastered the language quite well, or at least understood it. Speaking came with time.
She later trained as a paralegal and notary's assistant and then moved to an insurance company, where she worked full-time during the day and studied at the same time in the evenings. This enabled her to obtain her secondary school certificate and high school diploma via the second-chance route.
Plunged into new tasks
After studying economics in Bochum and Kingston upon Hull, England, she threw herself into new challenges and decided to become an auditor. „Then PwC offered me the opportunity to go to Amsterdam and set up a business unit there. I thought: Can I do both at the same time? A new environment and setting up a business area and the auditor exam? Then I just carried on.“
Qualities that are generally also attributed to prominent people who are able to inspire them. When asked which personality in human history she would like to meet, she answers Barack Obama. What she particularly appreciates about the former US president, whose biography she has read, is that he knows how to convince and inspire. A people whisperer, in other words.
I believe that we are all only successful - and sustainably successful - when we act with integrity.
What motivates Erdogan in life are family, values, a thirst for knowledge and interaction with others. „Integrity, appreciation and respect: these are important values for me in my private life and also in business,“ she explains. „I believe that we are all only successful - and sustainably successful - when we act with integrity.“
A question of respect
Respect plays an extremely important role in Turkish culture and has been passed on to her from the very beginning, says Erdogan, who always appears very polite and engaging in conversation. „I think if at least 80% of the people I treat with respect give it back, then that has a positive impact. And that's a huge success for me.“
Moving things forward with others
She describes other drivers as people with whom she can create value and advance the company and other things through interaction, constructive and serious discussions on a daily basis, both privately and professionally. By her own admission, she also likes to get to the bottom of things, loves learning and sharing experiences and supporting others.
Helping out at „Rock your Life“
She also does this on the board of trustees of „Rock your Life“. The non-profit organization provides students and trainees with volunteer mentors to show them the way and serve as a kind of compass.
Lots of time with the family
Erdogan spends a lot of time with her family - her husband and son. „That's super important to me.“ She also makes time for herself and her health. „I can only give my best when I'm healthy, when I'm balanced. That's why I go jogging and do a lot of yoga.“ This gives her serenity and balance.
The Frankfurt resident also enjoys reading and traveling and describes herself and her family as soccer fans. Then Erdogan, who appears calm and deliberate, is sometimes swept off her feet and finds herself on the pitch in her mind's eye, kicking a ball around, as she happily recounts. „We love Eintracht and go to the games. It's great fun to be a member of the club and a fan of this team. Because it has so many faces and the performance is so volatile. You really need self-confidence and resilience to say that this is my team - in good times and bad.“
We love Eintracht and go to the games. (…) You really need self-confidence and resilience to say that this is my team - in good times and bad.
Just as Erdogan always strives to treat her fellow human beings with respect and as equals, she also demands an honest word from her employees. „Openness and transparency are extremely important to me,“ she says. „If I say openly what it's all about, what the consequences of a project are, for example, and then also actively listen and take all opinions into account, then the best will come out of it,“ she is convinced.
„Then people also go the extra mile because they identify with the topic and the team. And because they realize that their contribution makes a difference and has a positive impact.“
You always meet two or three times in life.
Erdogan, a financial expert and people whisperer, knows that a value-based approach in the company ensures a good working atmosphere, more motivated employees and more satisfied customers and also pays off in business terms. „I always want to do everything I can to create a win-win situation,“ she says, „because you always meet two or three times in life.“
I rarely have to bang on the table. Because I am open to all arguments and put the facts and assumptions on the table.
That doesn't mean that she won't change her tune if all else fails. „I rarely have to bang on the table,“ says Erdogan. „Because I am open to all arguments and put the facts and assumptions on the table. I would never use my position in the hierarchy to push something through.“ In her opinion, arguments should always be convincing and the interests of the stakeholders should take priority.
Bank thoroughly screened
Even in her role as Deputy CFO, she focused on the four areas of technology, processes, employees and data. „I am glad that the CFO role has changed from retrospective reporting to an all-rounder who helps shape the future and strategy. It is very important to me to help define the strategy as a co-pilot, so to speak, and to support its implementation.“ It can be assumed that she will make her ideas a reality - as usual.