MUNICH, Germany, August 1 /PRNewswire/ -- Effective October 1, 2007,the Corporate Executive Committee of Siemens AG has appointed Dominik Asam,38, to be the new Group President and Head of the Management Board ofSiemens Financial Services GmbH (SFS). He will succeed Herbert Lohneiss,61, who will serve as a consultant to the company as of October 1. Anadditional change taking effect on October 1 will be the integration of alltreasury and insurance-related activities into the SFS Group with theexception of selected corporate tasks. Asam has headed Corporate Finance Treasury since 2006 and, in thisresponsibility, works closely with SFS. "In Dominik Asam, we have found astrong entrepreneur to head the financial services Group. He has years ofexperience at one of the world's leading investment banks in internationalfinancial centers, and he has also proven his leadership competencies andstrategic skills in industrial companies," said Joe Kaeser, Chief FinancialOfficer of Siemens AG. "At SFS, everything is set to accelerate profitablegrowth in the external business, to support and drive Siemens sales as afinancial services provider and to strengthen its role as a center ofcompetence for financial risk management at Siemens. I am confident thatSFS will make a significant contribution to the successful implementationof our strategy in the coming years by focusing its services on the threeapplication fields energy, industrial infrastructures as well ashealthcare," Kaeser said. "I am very much looking forward to working with all SFS colleagues inmy new role and to further developing financial services of Siemens to thebenefit of customers, investors and employees," Asam said. Dominik Asam was born in Munich on March 6, 1969. He earned his degreein mechanical engineering at the Ecole Centrale in Paris and the TechnicalUniversity in Munich, followed by an MBA at INSEAD business school inFontainebleau, France. He started his career at Goldman Sachs in investmentbanking in Frankfurt/Main in 1996. Within Goldman Sachs, Asam moved on toNew York and London, where he became the executive director for investmentbanking in the semiconductor industry from 2000 onwards. In 2003, Asamjoined Infineon, where he was in charge of investor relations, M&A,corporate ventures and corporate strategy. From October 2005 to January2006, Asam was a member of the management team at Siemens FinancialServices GmbH before he took over responsibilities for Corporate FinanceTreasury in February 2006. Also effective October 1, Siemens Venture Capital as well as thefinancial responsibilities for global pensions that have been part of theSiemens headquarters will be integrated into SFS. Inside SFS, theInvestment Management and Treasury & Financing Services divisions will bemerged into Treasury & Investment Management. Except for selected corporatetasks that will remain at Siemens headquarters, SFS will perform alltreasury and insurance-related functions for Siemens. With its roughly 1,800 employees and an international network offinancial companies coordinated by Siemens Financial Services, Munich, theSiemens Financial Services (SFS) Group offers a broad range of financialservices. This covers everything from sales and investment financing totreasury services, fund management and insurance brokerage. SFS's keycustomers are above all internationally active industrial and servicescompanies, as well as public-sector operators. For more information see:
Dominik Asam to Head the Group and Management Board of Siemens Financial Services GmbH
August 08, 2007, 1:11 a.m. EDT 3 Min Read
