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  Success Story: Herta Von Stiegel
   
  Climbing Mt Kilamanjaro (2008)
 
Climbing Mt Kilamanjaro (2008)
Herta Von Stiegel

Herta von Stiegel is executive chairman of Ariya Capital Group, a fund management firm focusing on sustainable investments in Africa and non-executive Chairman of Stargate Capital Investment Group which runs Trapezia, a venture capital fund which directly targets women-focussed businesses. An international executive with a consistent track record of building profitable highly regulated structured finance businesses, she held senior positions at Citibank and JP Morgan and, until 2005 was Managing Director at AIG Financial Products, the financial services division of American International Group Inc. A US tax lawyer by training, Herta practiced law prior to becoming a banker specializing in international taxation and mergers and acquisitions. She holds a Juris Doctor degree from Thomas M. Cooley Law School in Michigan, a Masters of Law degree in Taxation from New York University School of Law and a B.A. from Andrews University. She is a member of the State Bar of Michigan and New York.

She serves on several boards in the corporate and not-for-profit sectors, including Stargate Capital Investment Group, Camco International (a market leader in climate change solutions with significant operations in China and Russia) where she chairs the audit committee and Opportunity International, a global microfinance organization with multiple financial services subsidiaries. She chairs the Prince's Trust Women's Leadership Group, serves on the board of The Committee of 200, and is a member of the Women's Leadership Board of Harvard University's Kennedy School of Government. Born in Transylvania, Herta has US and UK citizenship, is bilingual (English and German) and proficient in Romanian.
 
 
ExpatWomen's Interview with Herta
 
ExpatWomen: Congratulations on your impressive record of corporate success. Can you please share with us how you became an expat in the first place?
 
Herta: Sure. I was born in a German-speaking part of Transylvania (today part of Romania) and spent my formative years "behind the Iron Curtain". Through an amazing chain of events my parents and I were allowed to emigrate to the United States when I was 18 years old. I arrived in the US and the sky was the limit as far as I was concerned. I trained as a lawyer and after practicing law for a while became a banker. I lived in Michigan and then in New York City. In 1990, I asked for a transfer from New York to London. I was with Citibank at the time and really needed to be in London to do my job. My husband and I synchronized careers and expected to stay two years in London. That was 18 years ago! We are still in London and enjoying our life here.
ExpatWomen: How did your initial transition to London go? Are you able to recall for us some of the highs and some of the lows of your move?
 
Herta:  I remember being amazed at the general lack of service in London. Everything was geared toward the "housewife." The fact that both my husband and I worked made it very difficult for us to arrange for deliveries, the dry cleaning etc. But if you were at home, you could have milk bottles delivered to your door in Central London!... and the milk really arrived. (The milkman truly was coming!) On the other hand I was so impressed with the politeness of the English. London was not as cosmopolitan in 1990 as it is now and people everywhere queued in a very organized fashion and there was a proper way of behaving on the underground. Our friends referred to London as a "civilized New York!"
ExpatWomen:At Stargate, you focus a lot on women-led businesses. What do you believe makes women-led businesses different?
 
Herta: One always runs a risk when making general statements about gender since there are so many exceptions to the rule. I think the best leaders, whether male or female, are people with "bridge brains" because they have the best of the typical male and female pathways, that is, focus but also flexibility; grasp of the detail without losing the big picture. Women, while focused on the bottom line, tend to be better transformational leaders. Gifted female leaders surround themselves with the best people they can find and strive for diversity in their teams. The most innovative teams are those with gender parity and good leaders find people who share their vision but have complementary skills.
ExpatWomen: You have just launched Ariya Capital. Can you share with us why you are choosing to focus on Africa and sustainable development?
 
Herta: I believe Africa, particularly the sub-Saharan region, is the next major frontier market. Investors who want to generate decent returns need to start looking beyond emerging markets such as India and China to frontier regions. The Western approach to Africa has generally been to provide aid through NGOs or directly from government to government. This has resulted in limited benefit for the local population. I believe that there is a place for aid but, in addition, Africa deserves and needs funding from the private sector particularly when it comes to major infrastructure projects. We are focusing on significant projects ranging from alternative energy to eco-friendly mining that use local resources wisely and provide jobs for Africans, many of whom are very well educated and eager to build their future. The "grab and run" approach has not served Africa well in the past and will not be good for Africa in the future. Africa's resources need to be capitalized on and transformed in Africa not just extracted and exported to the highest bidder.
ExpatWomen: Herta, you dedicate time in your busy schedule to non-profits. What drives you to do this and do you have any advice for other women considering following your example?
 
Herta: There are so many needs out there but I decided to focus on the economic empowerment of people in general and women in particular. When people have money they may not have happiness but they can make informed choices. To that end, I have become very involved in microfinance both in emerging markets and the developed world. Microfinance is a very effective tool to break the cycle of poverty and women are proving to be excellent credit risks! They know how to handle money. I have seen hundreds of women in Africa and Asia who have transformed their lives and the lives of their families through education and enterprise. A slightly adjusted model can also work in the West. The Prince's Trust in the UK has demonstrated that disadvantaged young people can become successful entrepreneurs if they are given financial and intellectual support and access to networks. Mentoring is so important. I do this because I have been very blessed. My parents lost everything when the Communists took over and started from nothing several times. I believe it is so important hold everything loosely and to give back! It is really true - the more you give, the more you receive.
ExpatWomen: Thank you very much Herta. Your success is very inspiring and we wish you ongoing success for the future.
 
 
September 2008
 
 
 
 
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